Money Advice That the Pros Wish You Would Actually Take!

50+ pieces of smart money advice that can help you grow your bank balance (and keep it there)!

Pssst… I have a confession… I was once a money dum dum. Yup, I said it, a DUM DUM! Harsh words I know (I have a 4yr old, that’s as harsh as we get in this house) 🙂

I cringe at what I “didn’t know” and could have easily handled, if I had only known, or realized. Do you have one of those “things” that you can’t believe you didn’t know? We all have those things. Right? I can’t be the only one (please don’t let me be the only one!!!)

Getting back to being a money dum dum. My biggest money regret is around something I didn’t know, and it KILLS ME! Yes, I need to just get over it, as we can never go back in time, but I’m stubborn, so I hold on to things. The main point is that I don’t want this for you! I want you to know ALL THE THINGS, especially the important things, the things that can dramatically change your financial trajectory!

Today, I am laying out all the best money advice that real (money nerd) women have taken to heart and shared with me. Because real women are the ones living life on our level, they know our struggles and our needs, so in my book, they’re the pros! All of these money tips are valuable, and each has resonated with women on a deeper level.  

Read their words of wisdom, and I hope that something “clicks” with you! Because you may have heard it all before, but sometimes, for some reason, someone says something in just the right way that totally blows your mind!

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I am not claiming these quotes/advice as my own; neither are the women who mentioned it. If I know the source, I will cite it accordingly.

The best money tips on investing | 1-7

• Don’t invest in something you don’t understand.
• Never invest more than you can afford to lose.
• Always max out your investments, if possible.
• Never make investment decisions or purchases out of fear.
• Spend less, save more, earn more, invest more & repeat.
• Don’t just save money, invest it! Spread it out into different buckets for safety.
• The enemy of smart investors is fear, greed & impatience.

Financial advice on being the boss of your money | 8-17

• Always pay yourself first!
• Save starting from your first paycheck. It’s all about the habit!
• Tell your money where to go, not wonder where it went.  (Dave Ramsey)
• Understand how taxes work. (read The Power of Zero).
• Spend more time learning about money, a little bit every day!
• Those that understand compound interest earn it, those that don’t pay it. (abbreviated from Albert Einstein quote).
• You work hard for your money, make it work hard for you!
• Get professional money advice.
• Freeze your credit, it is the ultimate safety belt for your credit
• There are two “haves.” Have a budget, have multiple streams of income.

Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.

Albert Einstein

Hard money truths on spending your money | 18-27

• The more you own, the more owns you.
• You can afford anything, not everything!  (Paula Pant)
• Only buy it if you can pay for it twice.
• You save even more by not buying that item on sale!
• We have food at home! (Moms everywhere)
• When it comes to cars, buy used & pay cash. Drive it till it dies.
• Play the “is it worth it” scenario in your head for every nonessential purchase. Sometimes it may not be worth the money, but it may be worth the time.
• The more you spend, the less you have.
• Just because you can pay the monthly cost doesn’t mean you can afford it.
• If you cant pay cash for it, then you can’t afford it.

Money advice for living your best life | 28-36

• Enjoy life’s moments when they happen. Don’t become a penny pincher that you can’t go to the concert, ball game, or dinner out. Tomorrow may never come. Make your bucket list happen a little bit every day.
• Don’t save for how much money you want, save for the experiences you want to have.
• Invest in yourself and your development.
• Learn how to provide value to others, and people will always be happy to see you.
• Save up experiences, not things!
• Live below your means.
• Learn the difference between a want and a need, and learn it early on.
• Only drive as fast as you can afford.
• The best thing that money can buy is freedom from worrying about money.

Money tips for your heart & relationships | 37-41

• Love people, use money. Never switch that around.
• Find a life partner that shares your money habits.
• View your budget from the lens of your values. To see this in action, check out how your Personal Core Values can impact your finances.
• Money isn’t everything, but not having it is.
• A wise person should have money in their head, but not in their heart.

Hard money truths about having debt | 42-47

• Eliminate all debt, no matter what.
• Don’t waste your money on depreciating assets.
• Debt is a curse; avoid it at all costs.
• Don’t ever get sucked into the interest-paying trap.
• Always pay off your credit cards in full every month.
• Freeze your credit cards, literally in a big bowl of water. By the time you get them thawed out you won’t want that purchase anyways.

Money advice on earning a paycheck | 48-55

• Learn how to make passive income.
• Learn how to turn $1 into $2, and you will never be broke.
• Stop trading time for money and start trading value for money.
• Get out of a “job” mindset and change it to that of a career. You will make a lot more money and be more fulfilled.
• Time is the only nonrenewable resource; you can always make more money.
• When you get a raise, increase your 401k by that same amount, you won’t miss it.
• Know your real hourly wage!  Do you really want to work for 14 hours to buy that shirt?
• Work to live, don’t live to work.

Money advice on saving money | 56-61

• Save, save, save!
• An emergency fund is a must!
• If your spending, you should be saving.
• Save as much as you can when you are young, harness the power of compound interest! This is my biggest financial regret!
• Save first, live on what’s leftover.
• Spend a little, save a little.

At the end of the day

We don’t need to recreate the wheel or make the same mistakes as those who have come before us. These pieces of money advice are given from the heart (and the logical brain; it’s how money nerds work). So learn from our mistakes as well as our wins. Because, if you can do better in less time, then you should absolutely do it, and these are the money tips that will get you there!

Articles related to money advice:

• Time vs. Money – Which is More Important to You?
• Problem Overspending? The Solution is Your Real Hourly Wage
• Your Personal Core Values are the Key to Setting and Reaching Your Goals
• How to be a Financial Powerhouse – the Power of Compound Interest

What is the best piece of money advice that you’ve ever heard?