Each week on The Wela Show Podcast we ask our guests for their favorite piece of financial advice they've ever received, and we've gotten some fantastic answers. Here is a quick look at what some of our guests have said.
Kevin Peak - Podcast 25
My financial advisor told me that we'd never be able to save enough money for our kids' college because they're so young. We don't know how much college will cost in 10 or 15 years. So save something, but don't let it dictate your lifestyle now or your retirement savings. Even if you're great at saving, be careful that you have balanced savings.
Allyson Kuper - Podcast 26
My dad's advice is that if you're responsibly paying yourself first and budgeting, it's okay to splurge. My big splurge is usually travel. I love to travel, but it's important to save up, and not extend yourself on something that's unnecessary. First off, it gives you the gratification of saving for something and the ability to spend without feeling guilty. But, it also keeps you from over-spending.
Joey Fehrman - Podcast 27
The book that changed the course for me was Rich Dad Poor Dad. In college I had no interest in finance. I thought the whole thing was stupid. Then I read the book, and it opened my mind and changed my perspective. I realized that this stuff was valuable.
Greg Corey - Podcast 29
No one dropped a bombshell on me, but the way my dad raised me was that we had to go cut the grass. We had to go make money, and we had to save money. There wasn't an option. We didn't have money struggles even though we weren't wealthy, and that resonated with me. Ultimately, it comes down to don't spend more than you make.
Alex West - Podcast 30
A good friend and a mentor of mine told me, "No one can pay you what your free time is worth." It took me a long time to really understand what that meant. It's easy to get distracted by what car we drive, what phone we talk on, or what zip code we live in. At the end of the day, Wela or wealth is really about what you're doing with your life, and the love you have, and the pride you have. So I think that keeping that definition of wealth at heart and the number-one priority is really important to be who you are, and live within your means to do what you want to do with this life.
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