If you do not develop the habit of saving, the seeds of greatness are not within you. Because if you buy the things you want, you will not have the capital available for the things you need. Doing this allows you to take advantage of Warren Buffett’s advice, “Be greedy when the market is fearful.”
—Clay Clark, founder of Thrive15.com
Related: 12 Easy Ways to Make Extra Money
The best financial advice is that it’s extremely important to live within your means. I believe frugality ultimately leads to being wealthy in all aspects of your life.
—Takanyi Garanganga, professional tennis player
The best thing you can do, as an entrepreneur, is to invest in your own business and see it grow. If you can’t do that, put your money in mutual funds and pick a stock or two that you are interested in following.
—Nathan Rothstein, president of Project Repat
Spend less money than you make. If you’re in business, it sounds easy but it’s not. If you’re spending more than you’re bringing in, you have a problem that needs to be fixed. So many entrepreneurs struggle with cash flow issues and get excited with a budget for a Rolls Royce but only have the cash flow for a Toyota Camry—looking at your cash flow forces you to be profitable.
—David Lopez, CEO of Dental Fix Rx