Quote Roundup: The Best Financial Advice You Ever Received

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In a world of economic uncertainty, who wouldn't benefit from some solid and proven advice about money? People from across the United States share the best financial advice they ever received, from useful proverbs to the wisdom of grandparents. These simple yet sound tips can help the financially overwhelmed wrangle their personal finances, and help the more savvy stay on a lucrative path. You won't need an upfront minimum investment of $10,000 to implement these ideas. All you need is the desire to create a better future for yourself and your family.

What is the best financial advice you ever received?

"My Granny told us, 'The world doesn't owe you a living.' This was usually said while we were sitting around instead of picking up our toys or setting the table." - Kimberly Schimmel, Library Science Graduate Student, Greensboro, North Carolina

"'You can't sell from an empty pushcart' (old Jewish proverb). This applies to many fields in that having more abilities, items and services that you may supply gives you more opportunity to help/service customers, clients or patients." - David Leader, DMD, Assistant Clinical Professor, Tufts University School of Dental Medicine, Boston, Massachusetts

"The best advice was that I should consider taking Social Security at age 62, rather than later. Although I wouldn't get as much, I would get money for three years more than if I waited, and it would take a lot of time to make up that amount of money after I turned 65. If I expected a shorter life span than many people, then I would come out ahead." - Vincent Summers, Chemist, Lovingston, Virginia

"I learned this from a T. Harv Eker book and seminar: don't trade time (hours) for money, create passive income instead. Hours are limited, therefore your income will be, too, but passive income produces even after you've stopped working, so it is unlimited. Writing and earning money for page views is classic passive income." - Patricia Cook, Writer, Arlington, Texas

"It may sound corny but the best financial advice I ever received was from my grandmother: 'A penny saved is a penny earned.' In my 20s when I was living on my own, it began to resonate with me. When I became an accountant, I realized that a penny saved is MORE than a penny earned because it is after tax. It helped me to focus on controlling spending before worrying about bringing in more money." - Angie Mohr, Accountant, Savannah, Georgia

"Never buy brand stuff - buy generic. My husband, when we first moved in, made sure to tell me this on every grocery trip. I was a bit apprehensive at first, but after snagging a generic version of ibuprofen for a buck after seeing it was... nearly $5 at a retail store... I was more than happy to use his advice. Works with canned chicken, too!" - Ann Olson, Editor and Writer, Coon Rapids, Minnesota

"My dad once told me, 'What you put ahead will be ahead. Pay yourself first out of every check, keeping 10% for savings before you pay for anything else.' Doing that had me a significant emergency fund that lasted the most part of the crappiest year of my life. Finally looking like I'll be back on my feet soon. " - William Lee, Writer, Knoxville, Tennessee

"Teachings of my mother and four-time entrepreneur: Be visible. Be remembered. Be interested in them more than you. Be curious about everything. Form bonds. Maximize your talents. Be present. Serve others. Say Yes! Say thank you. Don't expect. Be grateful. Be credible. Count the pennies and the quarters. And for gosh sakes, take them to Lunch!" - Billie Nordmeyer, BSBA, MBA, MA, Dallas, Texas

"My mom always told me it was never too early to start saving. I wish I had started listening sooner, rather than later. However, she did also teach me not to live outside my means and I have never been into material things. That alone helped me save. Combining 'non-materialism' with money is helping me stay better prepared." - Lyn Lomasi, Journalist and Website Owner in Englewood, Colorado

"The best financial advice I ever received was from my dear old dad. He told me that I should never charge something that I could not pay for if I lost my job. That advice has kept me safe from charge card dangers throughout my life." - Rodney Southern, Teacher, Greensboro, North Carolina

"Sitting in his kitchen, eating fish stew, my my 80-year-old grandfather told me, 'The worst kind of debt is the kind you can't afford to repay.' It took about 10 years for the advice to kick in. I paid off my credit card debt and have lived credit card free ever since - including holiday shopping." - Summer Banks, Medical Assistant, Oak Island, North Carolina

"Avoid debt. Pay off all credit card expenses within the month but do have a credit card so you have a credit history. My parents went through the Depression and passed the info on to me. Use it up, only buy what you can afford (no debt) and have emergency savings." - Jan Corn, Journalist, Anderson, Indiana

"'Only gamble what you can afford to lose,' is the most helpful piece of financial advice I was ever given. It pertains to casinos, the stock market and any other risk or investment. Given by my grandfather who was broken by the Great Depression, I have learned by both following and ignoring it that he was right." - David Reinstein, LCSW, San Anselmo, California

"Pay your credit card balance off every month. No exceptions. My husband taught me this. It's the simplest advice I've ever received (having gone through business school at LSU, I heard all kinds of fancy financial advice) and it has liberated me financially." - Magnolia Miller, Professional Blogger, Dayton, Ohio

"My Grandfather always told me two things: 'Never put your eggs all in one basket' and 'You never know what you might want or need at the end of the month.' The truth in these words came to me later in life. Things were tight and I nearly lost a client. I try to follow his advice when I can." - Nicholas Ward, Technology Writer, Tacoma, Washington

"When I recently had a son my mom told me to start a credit card when he is in high school and to charge a little bit on it and keep paying it off. When he is on his own he will already have credit to go out and get loans if need be. This is what she did for me and my brothers and sister and we all have excellent credit now!" - Lauren Finnegan, Fort Polk, Louisiana

"One piece of advice came from my hubby, which also later started popping up through some financial advisers, like Suze Orman: 'Never buy books and magazines that tell you how to save money or get free stuff.' That's one sure way to save money because most of that stuff can be found on the internet for free." - Karen Barnes, Freelance Writer, Wichita Kansas

"Our church's pastor told us, 'Don't try to gain in three years what took your parents 30.' It would have been fun to buy a house with more bedrooms, bathrooms, and more space. We chose a small two-bedroom 'starter,' which, even after income setbacks, we've still been able to afford. I can't imagine how we would have coped if we had bought something out of our price range and above our means." - Becca Swanson, Teacher, Youngstown, Ohio

"I overheard my father talking to my brother in 1980 after he had awakened from a coma. 'You have to have something working for you while you sleep' and 'It's not how much you make, it's how much you save.'" - Carol Rucker, Featured Crafts & Hobbies Contributing Writer, Cincinnati, Ohio

"The best financial advice I ever got was, 'Don't write for free. If someone offers you 'exposure' in the form of a link to your work, you're getting ripped off.'" - Randy Barefoot, BSBA Information Systems & 20 years of IT/Government consulting, Huntsville, Alabama

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