"You become what you believe. You are where you are today in your life based on everything you have believed."

Don't buy a car just for the status it allegedly brings. It’s an object designed to transport you in safety and reasonable comfort, acting otherwise leads to money waste.Ingvar Kamprad of Ikea drives a 10-year-old Volvo, and Walmart billionaire Jim Walton drives a 15-year-old pickup truck.

Cars Are Consumer Goods

The sooner you start managing, saving, and investing your money, however limited, the better off you'll be as long as you avoid mistakes like investing everything into one stock. That’s the advice of Carlos Slim Helú.He is a Mexican businessman who was ranked as the richest person in the world for a few years. Slim started investing early, buying shares in a Mexican bank at age 12, and earning 200 pesos a week as a teen working for his father's company.

Start Now

“… the secret to success: find something you love to do so much, you can't wait for the sun to rise to do it all over again."

By doing something you love you are more motivated to put the time and effort it takes to succeed and may even develop a new business out of it. That’s the advice of Christopher Paul Gardner. Gardner is nowa millionaire, but he was a homeless single father for a time.

Find Your Passion

Learning how the system works and avoiding the major pitfalls is often enough to succeed. It’s slow but it’s safe and it’s also the advice of billionaire Warren Buffett.Buffett made his investment fortune on the fundamentals: focusing on companies with strong annual cash flow, and choosing companies that aren't at risk of technical obsolescence. Buffett spent the early part of his career investing in insurance companies.

You Don't Have to Game the System

There is nothing to be ashamed of in taking the public transport and walking. It's easy on the bank account, and better for the environment. Protect yourself and your money by not falling prey to meaningless social pressures or vanity.A few billionaires like John Caudwell, David Cheriton and Chuck Feeney walk, ride bikes or use public transport regularly.

Walking and Taking Public Transport 

Constantly pursuing things you don't need puts you on a financial treadmill, not an upward escalator.Warren Buffett lives in a house he bought in 1957 for $31,500. Carlos Slim has lived in the same house for more than 40 years.

Simplify Your Life

Many people instinctively roll their eyes at the thought of getting personal finance tips from rich people. After all, advice like "Buy topaz dog collars instead of diamond ones" doesn't exactly resonate with someone who has to stretch every paycheck to make ends meet.

CHRISTOPHER PAUL GARDNER

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Hard times will pass

ROBIN SHARMA

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