Who goes around saying that they want to blow their money and never earn more? NO-body! Of course there’s tricks to keeping the money in your pocket.
Here's a few pieces of advice from some fierce financial advisors:
- Founder and CEO of Wealth Management LAB, Louis Barajas says, "Spend less than you earn, and invest the difference consistently in a well-diversified portfolio."
- Sophia Bera, founder of Gen Y Planning says, "The more you increase your income and become an expert on a specific area, the more money you'll have to reach your financial goals faster."
- "Do the right thing. Whenever I've been faced with a tough decision, I know that if I do the right thing, I will be okay in the end," explainsDouglas Boneparth, founder and president of Bone Fide Wealth.
- Rianka Dorsainvil, founder and president of Your Greatest Contribution says, "Put your financial oxygen mask on first. Being a first-generation wealth builder, you want to help everyone around you because you're financially better off. HOWEVER, you have to make sure you're financially taken care of BEFORE you can help your community."
- “Never rely on someone else for money,” explains Stacy Francis, president and CEO of Francis Financial.
- "You could lose your job, but NO ONE can ever take away your knowledge. Your knowledge can be leveraged for other professional opportunities,” says president of Harris and Harris Wealth Management Group, Zaneilia Harris.
- Ivory Johnson, founder of Delancey Wealth Management shares, "I told my dad I wanted to buy a Jeep. He then asked if I would have nice speakers and I said, 'Absolutely.' He paused and said, 'Make sure you have a shower inside,' because if I was dumb enough to buy a car when we lived in Manhattan, I would have to move out immediately."
- Diahann Lassus, co-founder of Lassus Wherley says, “No matter what phase of life you are in, understanding where you are IS themostcritical element in planning for the future."
- Helen Modly, wealth advisor at Buckingham Strategic Wealth explains, "Never use debt to acquire a depreciating asset.”
Hope you were taking notes!
Source:CNBC