What's the best piece of financial advice you've ever received from someone else? How have you implemented this advice in your own life?

Question

Unveiling the essence of financial wisdom, this article brings together expert viewpoints on building a solid monetary foundation. It offers actionable strategies that have stood the test of time, tailored for anyone seeking to fortify their financial health. Discover the keys to a robust fiscal future without wading through complexity or jargon.

Karen Sampolski · Answer

"You can't out-earn poor financial habits."
That hit me hard when I first heard it, and it's something I've carried with me ever since. The truth is, it doesn't matter how much money you bring in; if you don't have the right systems, mindset, and structure in place, it'll slip through your fingers just as fast as it came in. For a while, I thought hustle alone was enough. I was focused on working harder, taking on more, and pushing for higher income. But what I learned, the hard way, is that without discipline and intentional money management, even a great income can leave you living paycheck to paycheck.
So I started focusing on structure. I created a monthly budget that I actually stick to. I track every dollar, not just what I spend, but what I save, invest, and set aside for future goals. I also built financial routines the same way I built recovery routines: consistent, intentional, and accountable. I don't let short-term impulses throw off long-term plans. I review my spending regularly, I set limits, and I make sure my money is working toward something bigger than just the next purchase. That one piece of advice changed everything for me, because it reminded me that real financial health starts with habits, not just income.

Brian Chasin · Answer

"Live below your means, even when you don't have to."
This piece of advice stuck with me early on, and it's shaped the way I approach nearly every financial decision in my life. It's easy to get caught up in the idea that success should come with a flashy lifestyle, expensive cars, luxury clothes, and oversized homes, but I learned that chasing those things too early can put you in a position where you're working just to maintain the image, not to build real security or freedom.
For me, living below my means hasn't been about deprivation; it's been about intention. I've made it a personal discipline to choose simplicity, even when I could afford more. That choice has created space—space to invest in things that truly matter, whether that's long-term savings, opportunities to grow, or simply having the freedom to pivot without financial pressure weighing me down.
This mindset helped me avoid unnecessary debt and gave me the breathing room to weather unpredictable seasons. It's also allowed me to invest in people and ideas without feeling stretched thin. I've found that financial peace doesn't come from how much you make; it comes from how you manage what you keep. That advice has helped me stay grounded, focused, and in control, and I continue to practice it every day, regardless of income.

Jonathan Orze · Answer

"Your time is your most valuable currency." This piece of advice changed the way I look at everything, not just finances, but the way I structure my days, make decisions, and build for the long term. It helped me shift my focus from just trying to make more money to being intentional about how I spend my time and what I'm actually building. I started asking myself: Is this opportunity truly worth the time it's going to cost me? Is it moving me closer to the life I want, or just keeping me busy?
That mindset led me to start building systems, not just income streams. I began creating structures that could work even when I wasn't directly involved every second. Whether that meant training the right people, setting up processes that run without constant oversight, or learning to delegate what doesn't require my involvement, the goal became freedom, not just profit.
Now, when something comes across my plate, I don't just look at the dollar figure. I calculate the time investment, the energy drain, and whether it aligns with my priorities. That one shift has helped me build a more balanced, sustainable way of living and working, one where I don't just chase money, but protect my time, because that's the one thing I can never get back.

Adam Garcia · Answer

As a financial advisor, the best advice I received was 'pay yourself first' - something I initially dismissed but now swear by. I automatically transfer 20% of each paycheck into investments before I even see the money, which has helped me build a solid emergency fund and retirement portfolio. What really made this click for me was seeing how an extra $200 monthly investment grew to over $15,000 in just a few years, making me wish I'd started even earlier.

Peter Lai · Answer

"Always know your numbers."
That was one of the best pieces of financial advice I've ever received, and it's something that's stuck with me ever since. Someone told me early on, "You don't have to be a CPA, but if you don't understand where your money's going, you're flying blind." That really clicked for me. It's easy to focus on big-picture goals or day-to-day operations and overlook the actual flow of money, but the truth is, your numbers tell the story.
I started making it a non-negotiable habit to stay close to my financials. I review everything weekly: income, expenses, savings, even the smaller line items. I want to know what's coming in, what's going out, what's being reinvested, and what those numbers say about where I'm headed. I don't wait for a quarterly review or an accountant to point something out. I treat my financial awareness like a discipline, part of my overall accountability, just like in other areas of my life.
That advice taught me to lead with clarity, not assumption. When you truly understand your numbers, you make better decisions, catch problems early, and stay in control, even during unpredictable times. It's not about being perfect with money, but being intentional. And that level of awareness has made all the difference for me.

Brandon Thor · Answer

"Always control the terms of the deal." A mentor told me that money isn't just made by buying low and selling high--it's made in the structure, in the negotiation, in understanding the fine print better than anyone else in the room.
That advice shaped the way I approach both business and personal finance. In the gold industry, margins can be tight, and the difference between a good deal and a bad one often comes down to how it's structured. It's not just about price--it's about timing, counterparty risk, and ensuring that every agreement protects your downside while maximizing your upside. I take the same approach to investing. Before I put capital into anything, I ask: Do I understand the risks? Can I walk away if the deal doesn't meet my criteria? Am I in control, or am I just following the herd?
This mindset has helped me build Thor Metals Group into what it is today. We don't just trade gold--we create opportunities for clients to hold wealth on their terms, whether that's through smart allocation strategies or secure storage solutions. Financial success isn't just about what you invest in, but how you structure those investments. If you control the terms, you control your future.

Melissa Cid · Answer

The best financial advice I ever received was, "Make your money work for you." It sounds simple, but it completely changed how I approached saving and spending. Instead of just cutting costs and hunting for deals, I started thinking about how every dollar I saved could be used to build something bigger.
This meant two things for me: being intentional about where my money went and making sure it was always growing. I stopped letting savings sit in a regular account and instead put them in high-yield savings accounts, CDs, and investments that worked harder for me. Even when using coupons and cashback apps, I made sure those extra savings didn't just get absorbed back into my budget but went toward something meaningful--whether it was my emergency fund, a family trip, or investing in my kids' future.
I also applied this mindset to everyday spending. Instead of just looking for the cheapest option, I focused on getting the best value. That meant investing in quality items that last, taking advantage of rewards programs, and being strategic with credit card points. It's about making smart choices that don't just save you money in the moment but keep benefiting you long-term.
As a mom of four, I know how easy it is to feel like there's never enough money to go around. But the best thing I've learned is that small, intentional choices add up. Whether it's earning interest on savings, stacking discounts, or choosing experiences over things, every decision helps stretch our dollars further. That one piece of advice--making my money work for me--has helped me not just save, but build a life where we can enjoy what we love without unnecessary stress.

Gregory Rozdeba · Answer

I learned the '50/30/20 rule' from my first finance mentor - allocating 50% for needs, 30% for wants, and 20% for savings - which completely changed how I manage money at Dundas Life. When I started using this system, I noticed my personal savings grew from barely anything to a solid emergency fund within eight months, giving me peace of mind to take calculated risks in business. Now, I help our insurance clients implement this same principle to build their financial safety nets while still enjoying life.

Austin Rulfs · Answer

The best financial advice I ever received was from a mentor who told me, "Don't just work for money; make your money work for you." This stuck with me because it shifted my mindset from focusing solely on earning to thinking about investments that would generate passive income.
I've implemented this by diversifying my investments. Instead of putting all my resources into a single asset class, I spread them across property, stocks, and business ventures. The goal is to build a foundation of assets that grow over time and require minimal day-to-day involvement.
This advice has allowed me to focus on long-term wealth-building strategies, rather than short-term gains. It's been one of the driving forces behind how Zanda Wealth operates. We thrive on helping clients build a portfolio of investments that work for them, rather than constantly chasing the next paycheck.

Ryan Hetrick · Answer

"Have a plan for every dollar."
This piece of advice completely shifted the way I think about money. It made me realize that budgeting isn't about restriction; it's about intention and direction. It's about telling your money where to go instead of wondering where it went. Before I really absorbed that, I used to handle my finances in a reactive way, spending first, then figuring it out after. But once I adopted this mindset, everything changed. I started building both personal and professional budgets that reflect my values, my goals, and my long-term vision.
Every dollar now has a purpose. Whether it's going toward savings, expenses, investments, or giving back, I assign it a role before it ever hits my account. That level of clarity gives me a sense of control and peace, even when things fluctuate. I review my budgets monthly, not just to track the numbers, but to stay accountable and make adjustments based on what's actually happening in real time. It's a discipline that's become second nature, and one that's helped me build a foundation that's not just stable, but scalable. Having a plan for every dollar doesn't mean you're limiting yourself; it means you're leading yourself, financially and personally.

Niclas Schlopsna · Answer

The best piece of financial advice I ever received came during my banking apprenticeship at Sparda Bank: "Live below your means, especially when it's tempting not to." It was from an older colleague who had seen plenty of clients fall into the trap of living paycheck-to-paycheck despite earning well. At the time, I didn't fully grasp the power of that statement, but when I transitioned to startup life at N26, where everything moves at warp speed, it clicked.
In startups, both personally and professionally, cash flow is everything. I've carried that mindset into my roles, whether managing budgets at spectup or advising founders. For example, when I started spectup, we deliberately kept overhead low, utilizing remote teams and only investing in tools that directly contributed to growth. Personally, I've always prioritized an "emergency fund" and avoided debt wherever possible--lessons that have kept me focused even when unexpected situations arose.
One time, a tech startup we advised was over-leveraged because they assumed their next funding round was a sure thing--it wasn't. That experience reinforced the importance of financial breathing room, whether you're managing personal finances or building a business. It's not glamorous advice, but it's responsible, and it gives you the flexibility to weather storms while staying pointed toward growth.

Mike Wall · Answer

My dad's simple advice to 'buy assets that generate income' completely changed how I think about money and led me to start investing in rental properties. I started small by buying my first duplex, living in one unit while renting the other to cover the mortgage, which taught me the power of making money work for me. This mindset helped me build my current portfolio of 31 rental properties, though I wish I'd started even earlier since real estate has been my best financial move ever.

Shane McEvoy · Answer

Early in my career, I was tempted to upgrade my car, rent a flashy office, and spend on things that signaled success rather than build it. A close friend who had been through it warned me that spending on image can trap you in an endless cycle of needing to make more just to maintain appearances. Instead, he advised me to focus on income-generating assets before luxuries.
I took that advice to heart and prioritized building a solid financial foundation before upgrading my lifestyle. I reinvested earnings into my business, focused on revenue growth, and kept expenses low. Years later, I could afford more—but only when it made sense, not because I felt pressured to look the part.

Timothy Brooks · Answer

"Save like you're broke, even when you're not."
That's hands down one of the best pieces of financial advice I've ever received, and it's something I've carried with me every step of the way. I love that mindset because it keeps me grounded and disciplined, no matter how good things might look on the surface. It's easy to get comfortable when income starts to grow, but this advice reminded me not to let comfort turn into complacency.
I treat savings like a fixed bill; it's not optional, and it gets paid first. That simple shift in mindset completely changed how I manage my finances. It forced me to build habits that prioritize long-term security over short-term gratification. Whether it's personal savings or business reserves, I've learned that financial peace doesn't come from how much you earn; it comes from how consistently you put money aside.
That habit has helped me avoid a lot of unnecessary stress, especially when unexpected expenses pop up. Life throws curveballs; that's just a fact, and having that safety net in place allows me to respond calmly instead of scrambling. It's not about being fearful or stingy; it's about being intentional. Saving like I'm broke keeps me focused, keeps me humble, and gives me the freedom to make better decisions without being driven by financial pressure.

Yoad Bet Yosef · Answer

The most transformative financial advice I received came from my grandfather when starting Nature Sparkle: "Pay yourself first, then build your business." Following this wisdom, I established a disciplined approach to our company finances. Each month, before any other expenses, we allocate 15% of revenue to three separate accounts: 5% for emergency reserves, 5% for business expansion, and 5% for profit distribution.
This simple system created financial stability during our early years when cash flow was unpredictable. When the pandemic hit, our emergency fund covered three months of essential operations while competitors struggled. Our expansion fund later enabled us to open a second location without taking on debt, increasing our overall revenue by 37%.
The "pay yourself first" principle taught me that sustainable business growth requires intentional financial planning. By treating savings as non-negotiable expenses rather than afterthoughts, we've built resilience into our business model while maintaining the freedom to make strategic decisions without financial pressure.

Bill Lyons · Answer

The best financial advice I ever received was to treat debt as a tool, not a burden--but only if used wisely. A mentor once told me that leverage, when managed responsibly, can be the key to building wealth, whether through homeownership, investments, or business growth. This perspective shaped how I approach both personal and professional finances.
Professionally, I emphasize financial literacy for our clients, ensuring they understand how to use mortgages strategically rather than fear them. Personally, I've implemented this advice by making calculated investment decisions, maintaining strong cash flow, and always prioritizing financial sustainability over short-term gains.
Whether it's structuring loans for my business or advising homeowners, I always return to this core principle--debt should work for you, not against you.

Andrew Harris · Answer

The best financial advice I ever received was to invest in continuous education and professional development. This advice drove me to earn designations such as Certified Insurance Counselor (CIC) and Accredited Advisor in Insurance (AAI), which required hundreds of hours of study. These credentials not only allowed me to deepen my understanding of insurance but also boosted my credibility and connected me with industry leaders.
At Liberty Insurance, I implemented this advice by integrating ongoing learning into our company culture. Our team frequently participates in development programs like the CONNECT program with Marsh Berry Inc., which keeps us updated on elite industry trends. This practice enables us to serve clients with innovative and comprehensive insurance solutions customized to their unique needs.
Philanthropy also plays a crucial role in applying this principle. Engaging in community service, such as partnering with Special Olympics of NJ and Make-A-Wish of NJ, helps our team learn new perspectives and build relationships that improve our service offerings. This proactive approach to both education and community involvement has solidified our industry position and multiplied our growth opportunities.

Bob Schulte · Answer

One of the best pieces of financial advice I've ever received is: "Build systems, not just habits." This idea resonated with me because habits rely on willpower, whereas systems ensure that success happens by default. When applied to money management—whether in business or personal life—having the right systems in place eliminates stress, reduces errors, and frees up time for bigger goals.
I've seen this concept play out firsthand in lending. Many small lenders start by manually tracking payments, following up with borrowers, and handling compliance. However, as loan volumes grow, this approach quickly becomes unsustainable. That's why I focused on building Bryt Software to simplify loan servicing. By automating key processes, lenders can scale efficiently without adding complexity.
I applied the same principle to my personal finances. Instead of relying on willpower to save or invest, I've set up automatic contributions that move money into investments and savings accounts each month. I also use budgeting tools that categorize expenses for me, so I don't have to track every transaction manually.
In both business and personal finance, the right systems remove friction, turning good financial habits into effortless, repeatable actions.

Ollie Smith · Answer

The most valuable financial advice I received was, "Make your money work for you." I learned that, in addition to saving, focusing on investing strategically and building passive income streams is the way to go.
My journey began with consistent investing in low-cost index funds, even during volatile market periods. Gradually, through the magic of compounding, my portfolio flourished. I adopted this mindset with my business, automating income streams--building sophisticated financial tools and guides that earned money even in my absence. The most valuable lesson? True wealth isn't measured by the income you earn, but rather, the effective ways you utilize your money.

What’s the best piece of financial advice you’ve ever received?

Table of Contents

What’s the best piece of financial advice you’ve ever received?

Focus on Financial Habits, Not Just Income

Live Below Your Means for Security

Value Your Time as Currency

Pay Yourself First Automatically

Always Know Your Financial Numbers

Control the Terms of Every Deal

Make Your Money Work for You

Use the 50/30/20 Rule

Diversify Investments for Passive Income

Plan for Every Dollar

Live Below Your Means for Flexibility

Buy Income-Generating Assets

Prioritize Income-Generating Assets Over Luxuries

Save Like You’re Broke

Pay Yourself First for Stability

Use Debt as a Financial Tool

Invest in Continuous Education

Build Systems, Not Just Habits

Invest Strategically for Passive Income

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