Warren Buffett: Kids Should Follow These Money Tips

Warren Buffett became a billionaire by working hard and understanding basic money principles like compounding interest and saving money. Now, Warren Buffett is trying to teach children about the importance of studying hard and saving money.

Secret Millionaires Club is an animated series that features Buffett as a mentor to a group of children who learn about business through adventures.

In the following video, Motley Fool Associate Advisor Alex Scherer visits the exhibition floor at the annual Berkshire Hathaway shareholder meeting in Omaha, Nebraska. This year, over 40 of Berkshire Hathaway's operating subsidiaries set up exhibits and allowed investors to see their latest products and innovations. During the meeting, Warren Buffett and his business partner, Charlie Munger, field questions from shareholders for nearly six hours and provide their thoughts on everything from investing, corporate governance, and personal success. Touring the floor, Alex found the Secret Millionaires Club exhibit -- the only booth that was not a Berkshire subsidiary. Alex explains why teaching money-saving habits to children is so important.

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