Discovering the best piece of financial advice can be a transformative experience, reshaping how we view and handle money. Thought leaders have shared their insights, revealing that the right guidance can instill confidence and clarity in financial decision-making. Whether it’s learning the importance of saving early, understanding the power of compound interest, or recognizing the value of living within one’s means, these nuggets of wisdom have the potential to change lives
Prioritize Savings: Pay Yourself First
One of the best pieces of financial advice I ever received was: “Pay yourself first.” This simple yet powerful principle transformed my perspective on money management and financial security.
The idea behind “paying yourself first” is to prioritize saving and investing before spending on discretionary expenses. Instead of treating savings as whatever is left after expenses, this advice encourages setting aside a fixed percentage of income immediately upon receiving it. This shift in mindset helped me view savings and investments not as an afterthought, but as a fundamental priority.
I developed better financial discipline, ensuring that I always had a safety net for emergencies and long-term goals. It also changed how I approached budgeting–rather than focusing solely on expenses, I started structuring my finances around building wealth. Over time, this strategy led to greater financial stability, reduced stress about money, and the ability to take advantage of investment opportunities.
Ultimately, this advice reshaped my financial habits, reinforcing the importance of consistency and foresight in wealth-building. Whether for retirement, an emergency fund, or financial independence, “paying yourself first” remains one of the most effective strategies for long-term success.
Loretta Kilday, DebtCC Spokesperson, Debt Consolidation Care
Assign Purpose To Every Dollar For Clarity
One of the most valuable pieces of financial advice I ever received was “Treat your money like an employee–give every dollar a job.” It completely changed the way I approach both personal and business finances.
Early in my entrepreneurial journey, I used to view money as something to be accumulated and spent as needed. But when I started assigning a purpose to every dollar–whether for reinvestment, emergency funds, or growth initiatives–I gained better control and clarity over my finances.
For example, we allocate revenue into specific “buckets” right away: operational costs, marketing, employee development, and a reserve fund. This disciplined approach has allowed us to scale sustainably while staying financially agile.
The biggest shift? Money became a tool, not a source of stress. When every dollar has a job, financial decisions become more strategic and intentional, setting the foundation for long-term success.
Max Shak, Founder/CEO, nerDigital
Start Investing Early For Compound Growth
One of the most impactful pieces of financial advice I ever received was to start investing early, even if it’s just a small amount. This concept was introduced to me during a casual conversation with a mentor who explained the power of compound interest. At a young age, the idea that money could grow on its own simply by being invested wisely made an immediate and profound impact. It shifted my view from seeing money just as a means for immediate purchases to a long-term tool that could provide security and freedom in the future.
Incorporating this advice, I began contributing to a retirement account with each paycheck, despite the temptation to spend that extra cash. Over time, watching my investments grow has been incredibly rewarding and has motivated me to continue learning and applying other financial principles. This simple, yet powerful piece of advice not only changed my financial trajectory but also instilled a habit of saving and respect for long-term planning. It’s a reminder that starting small doesn’t mean thinking small, and that early decisions can lead to substantial benefits down the road.
Alex Cornici, Writer, Insuranks
Build Emergency Fund Before Investing
The best financial advice I ever received was to build a robust emergency fund before diving into investments or other financial ventures. This guidance reshaped my approach to money by highlighting the importance of a safety net that provides peace of mind and financial stability during unforeseen events.
Consistently setting aside a portion of my income, I’ve not only reduced stress during economic downturns but also positioned myself to take calculated risks and seize opportunities when they arise. This strategy has instilled discipline in my budgeting, ensuring that I can confidently invest in long-term growth while safeguarding my financial well-being.
Shehar Yar, CEO, Software House
Read more personal insights from our roundup experts on our finance page.
