People often ask me which pieces of financial advice have shaped the life I live today.
I still have plenty to learn, but over the past few years I’ve grown a lot by following the lessons I’m sharing here.
I’m happier than I’ve ever been: I run a business I love, I have the freedom to retire when I choose, I practice frugality, I no longer spend recklessly, and I travel full time.
To be clear, I haven’t always been good with money. Just a few years ago my finances were a mess.
Back then I lived paycheck to paycheck, carried student loan debt, hadn’t started saving for retirement, and had a car payment. All of that produced intense and constant financial stress. I remember how terrible it felt to worry all the time.
Money once controlled much of my life, and that had a negative effect on everything else.
But things gradually changed.
I began taking deliberate steps to improve my financial situation. I learned from the advice others gave me and from the mistakes I had made.
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Here’s the best money advice I’ve received.
Use your extra time to make extra money.
A few years ago I learned how to earn extra income, and that decision changed my life. Before then, I assumed a typical 9-to-5 job was all anyone did and that was enough.
When I realized I was trapped in a paycheck-to-paycheck cycle, I knew something had to change. The financial pressure had become unbearable, and earning more was the answer.
By earning extra income I was able to pay off my student loans in seven months. Those months involved long hours, but reaching that goal so quickly was worth it. One side hustle even became my full-time business, which I still enjoy.
Extra income can be transformative: it helps break the paycheck cycle, accelerates debt repayment, and creates opportunities you might not have thought possible.
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Retiring before 67 is actually a thing.
In my twenties I rarely considered retirement. It felt distant and abstract—something for people much older than me. I didn’t know early retirement was even possible.
Once I became involved in the personal finance community, I discovered a group of people challenging conventional timelines. Many were retiring in their thirties and forties, proving you can design how long you want to work and when you want to stop.
I embraced the FIRE (Financial Independence, Retire Early) principles because they prioritize intentional living and financial control. While early retirement isn’t for everyone, understanding it opened my eyes to options and gave me the freedom to pursue financial independence.
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You can afford to travel.
One of the most important lessons my father taught me was that travel is affordable if it matters to you—you can always find a way to make it happen.
My dad loved travel and aviation. He worked in the airline industry, held a pilot’s license, and made travel a priority despite not being wealthy. He planned trips, kept travel journals, and created hundreds of photo albums that I still cherish.
I remember family trips to places like Disney World and even small-plane flights that felt magical. He didn’t prioritize expensive furniture or gadgets; he prioritized experiences and managed his money to support that lifestyle.
His example taught me that budget-conscious choices don’t mean giving up joy—you can save and still make meaningful travel a part of your life.
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Live on less than you earn.
This may sound like common sense, yet many people don’t follow it.
I used to compare myself to others—cars, restaurants, clothes—and convinced myself I needed those things. That mindset kept me stuck in the paycheck cycle.
Choosing to live below your means is one of the simplest, most powerful steps you can take. It creates room to save, invest, and build the life you want instead of constantly chasing the next purchase.
Start saving money as soon as you can.
One of the best bits of advice I received—which at first sounded like the worst—was to start saving early. I recall being told by a family member to spend freely when young because you wouldn’t enjoy money later. I thought that was terrible advice even as a kid.
Starting to save in your twenties builds good habits and makes saving feel natural. It doesn’t mean you can’t enjoy life; it means you plan for both present enjoyment and future security.
Saving early allows compound interest to work for you and reduces stress down the road. You can still socialize, travel, and have fun on a sensible budget—saving and enjoyment aren’t mutually exclusive.
Related content: Why Saving Money In Your 20s Is A Good Idea
Money doesn’t have to limit you.
My dad’s approach to money taught me perhaps the most important lesson: money should empower, not control, your life.
Even though he lived modestly and never reached retirement, he packed his life with the experiences he valued. He traveled widely, visited dozens of countries, and prioritized family and adventure over consumer goods.
You don’t have to let money dictate your happiness. With thoughtful choices, you can save, spend wisely, and still lead a fulfilling life without regret.
Be positive.
Mindset matters. Shifting from negativity to a positive outlook was essential to my financial turnaround.
A positive attitude helped me stop dwelling on mistakes, stay motivated, and move forward. Everyone faces low moments, but choosing a constructive outlook makes it easier to find solutions and keep going.
Being positive can help you:
- Discover new paths or solutions.
- Stay motivated through setbacks.
- Let go of past mistakes and move forward.
- Believe you can improve your situation—financially, professionally, or personally.
- Pursue and reach your goals.
- Increase your overall happiness.
I remind myself that negativity is often just a waste of time—it keeps you stuck in regret and prevents you from looking for the good or taking action.
What’s the best money advice you’ve received? What’s the worst?