How can you increase your earning power?

Everyone wants to earn more and have a good life which is carefree from financial worries.

Those who are young, and have just started their careers, should pay heed to these suggestions by one of the richest men in the world.

During an annual meeting of Berkshire Hathaway earlier in May, Warren Buffet suggested young people "find the job that you would like to have if you didn’t need a job."

The billionaire said that it is not necessary you get such a role right away but would take time.

During an interview, the 93-year-old said in an interview, quoted by CNBC that work on your communication skills because it is "a modest improvement that can make a major difference in your future earning power, as well as in many other aspects of your life".

The CEO of the American giant called it an essential skill because one needs to be "able to get others to follow their ideas".

Revealing his fears of early life, Buffet said: "Up until about the age of 20 ... just the thought of [public speaking] made me physically ill. I selected courses in college where I didn’t have to stand up in front of the class ... If I somehow did, I could hardly say my own name."

He said a public speaking course — which cost home merely $100 — transformed his life.

"I knew if I did not speak in front of people quickly, I would lapse back to where I’d started," Warren Buffet said, adding "I just kept doing it ... The impact that the class had on my life was huge."