This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
How I established financial success and the 11 ways you can do it, too
I used a piggy bank most of my childhood and was the sibling who always had the most quarters saved up. I took pride in my piggy bank and ended up saving quite a bit from using it. I also used a large apple juice jug to store my pennies; those pennies came in handy one day when I traded them in for dollars.
Some invaluable psychological and economic benefits come from religiously utilizing a piggy bank as a kid. If you’re lucky, the same saving habits will carry over through adulthood.
My piggy bank had three slots: one for giving, one for spending, and one for saving.
2. Invest: I signed up for my first ROTH IRA @ 14
My parents signed me up with an investment firm when I was 14 years old. A lady came over to our home and talked about ROTH IRAs, which marked the beginning of my investment journey. I’m not sure how I quite got so lucky, but I’m forever grateful to my parents for doing that.
3. Educate (Read): I read finance books at the dinner table with my family.
I can guarantee most stuff went in one ear and out the other. My family and I read the books, but we didn’t always understand the financial jargon, but some of it we did. “Rich Dad, Poor Dad” & “Rich Kid, Poor Kid” stayed on our dinner table as kids. We would read a few pages each day at dinner.
I still read finance books to date. I’m more into articles now, but currently, I’m reading “The Bitcoin Standard,” “The Intelligent Investor,” “Tax-Free Wealth,” and “What Your CPA Isn’t Telling You.”
Authors that helped me along my financial journey:
Napoleon Hill
Earl Nightingale
Warren Buffett
Robert T Kiyosaki
Dave Ramsey
David Bach
Suze Orman
Saifedean Ammous
4. Mentorship: Don’t learn money (entirely) independently.
Even if I had no clue what someone was talking about, I kept asking questions, learning, listening, and seeking mentors. As a kid, I would try to learn from everyone. Thankfully, I’ve had the pleasure to learn a few critical financial nuggets throughout my life that have transformed my relationship with money.
Don’t try to learn everything about money on your own. Sometimes, you need help to raise the bar you set for yourself. I know my bar has been raised as I continually expose myself to new information.
5. Debt: Never soak in it for extended periods – even if it doesn’t hurt you.
Here’s the thing about debt: it consciously weighs on you.
You might not be aware of it, but that gnawing feeling is there – affecting you every day – whether you realize it or not. Plus, the longer you wait to pay off the debt, the more interest you pay!
1 Dear friend, if you’ve gone into hock with your neighbor or locked yourself into a deal with a stranger, 2 If you’ve impulsively promised the shirt off your back and now find yourself shivering out in the cold, 3 Friend, don’t waste a minute, get yourself out of that mess. You’re in that man’s clutches! Go, put on a long face; act desperate. 4 Don’t procrastinate – there’s no time to lose. 5 Run like a deer from the hunter, fly like a bird from the trapper!
– Proverbs 6:1–5, MSG
One of my study abroad trips in high school required an additional $700 I didn’t have, so I took out a loan; one of the best decisions I ever made. I didn’t realize it, but this was my first direct experience with debt. I paid it off right away – even though it was in my father’s name.
As soon as I got a full-time gig the same year I graduated college, I paid off my car.
My laptop broke right before I graduated college (go figures); I’m grateful my partner allowed me to use theirs. But I couldn’t use their borrowed laptop forever; hence, I took out my first credit card to get a laptop, so I could write and apply for jobs anywhere without being chained to the library. I paid off the credit debt quickly.
My number one goal out of college wasn’t to pay off my student loans but instead my car note and credit card bill. I only possessed a desire to break even (having the same amount of money owed in loans to the Department of Education as I did investments and savings – my emergency fund). Paying off my student loans right away wouldn’t serve a practical purpose when I could put that money to work on my behalf at a higher interest rate.
~ Something interesting about investing and paying off debt. ~
Many people like Dave Ramsey suggest focusing all of your energy on paying off your debt before investing. I wholeheartedly disagree because there’s one thing you can never get back: TIME.
Find a way to do both; you most likely won’t regret it when you notice you already have a nice little nest egg saved up after paying off your debts.
6. Budget: Use it or lose it (your money)
I’m an archaic budgeter. I’ve been budgeting since I can even remember. The habit has never left me. I also find pleasure in budgeting (people make fun of me for it, but people also know I’m squared away when it comes to money).
Budget your a$$ off. When you manage and keep two eyes on what comes in and what goes out, you can’t fail.
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7. Credit Cards: A powerful and beneficial tool if used correctly.
For many people, a credit card is a dangerous thing.
Never pay late fees.
Don’t carry balances.
Get high credit limits.
Use automatic payments.
Use credit cards for rewards.
Don’t have more credit cards than you need.
Don’t use these tools to delay payment for junk and experiences.
Someone asked me should they get another credit card since their other two credit cards were maxed out; I told them, “no,” use a debit card.
8. Minimalism: Avoid overinvesting in materialistic things.
I wear the same clothes – a lot. So much that someone I was dating asked me if I only had one pair of jeans. Ouch. But did I change my ways? Nope. And I’m killing the financial game – as for them – I’m not too sure. But this also carries over into many areas of my life. Our house used to be very empty because I didn’t believe (and still don’t) in having a lot of stuff. Over the years, we have added things, but it’s still minimal. Most of the stuff we buy is pointless.
9. Wages: Never stay at minimum wage jobs for long
I’m proud to say I’ve done it all. I’ve worked in retail, the fast-food industry, janitorial jobs, an art museum, administration, volunteering, contracting, cleaning, babysitting, and more.
The retail and fast food industry jobs paid $7.25. I was irked by this amount since I was used to earning $40–60/hour teaching music, but at the time, I wanted to supplement my part-time income. The one thing I knew, though, is that I would not stay at these minimum wage jobs for long. There was no way I was willing to trade my time for $7.25/hour. My time is far more valuable than $7.25 an hour, but it’s still an experience I wouldn’t trade.
My Public Administration college professor told me during class his hourly rate is $75. Once he told me that, I set my bar higher. I already earned $200+/hour doing part-time contractor work with my father, but this guy was earning $156,000 in a full-time gig. This was years ago (which was a lot, but it’s still a lot now compared to the average yearly salary), and it expanded my goals.
10. Income: Continuously increase it.
You don’t have to increase your income. You can simply keep your costs of living expenses low and controlled; for the most part, I do this, but I also have big goals, and one of them is to support others financially. To do that, you need money.
I encourage people close to me never to keep their income f; by this, I mean, always aim to increase your income – especially when it comes to trading your time for money.
Too many people sit on the same salary year after year, hoping for a raise that comes in too low, too late, or never. By the time you wait to get your raise, you’ve lost tens of thousands and potentially hundreds of thousands of dollars over the duration of your career.
For side hustlers, there’s no shame in increasing your income – especially since it’s variable.
Each year, I set income goals. ~90% of what I write down becomes a reality for me. There’s enormous power in writing down your goals.
11. Profits Are Better Than Wages
Jim Rohn said it best, and I never forget it: Profits are better than wages.
Working for someone else can be fulfilling, but you’re still working for wages from someone else. Entrepreneurs, business owners, and investors are profit-making businesses, which means there is no cap to their income.
Lauren Como took the leap and switched to a career in sales. Do you know why they say sales is the best career? Because there are no limits to your earnings in many of them.
Tabitha Diaz is in a cushy and flexible fortune 500 role that provides more time to make profits on medium (and whatever else she has her hands in). More importantly, her job offers her the most valuable thing of all: time.
And time is money.
If you’re a writer, there is no limit to how many people can read your articles or books. The sky is literally the limit. Remember, profits are better than wages. Something I learned early on in childhood in my many entrepreneurial adventures.
Well, that’s all, folks.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.