The 10 money lessons you need to learn, according to world’s most successful people

Oprah Winfrey
Oprah Winfrey
Getty Images

We could all use some tips on saving money or getting our finances in order - and who better to learn from than the pros? They know what works and what doesn’t when it comes to money, and they’re more than willing to share their success. So you might as well listen, right?

From tips on investing to growing your savings, we’ve rounded up the best pieces of advice to navigate in the right direction in regards to your finances. Let’s dive in!

Experience trumps success

“Get locked out, and find a way to climb in another way,” Real Housewives of New York star Bethany Frankle says. “You’ve got to get on the road and figure out what it is that you want to do, what value you add, what clicks, what doesn’t.” Frankle is the CEO of Skinnygirl, which sold to Beam Global for a reported $100 million in 2011.

“Those people are the people who are successful, not the people that are sitting there making $24,000 a year, complaining that they shouldn’t be making coffee, that they shouldn’t be doing this, they didn’t go to school for this. It’s called tough s***. Tough s***,” Frankle added.

Read more:

It doesn’t have to be complicated

“Getting straight with your money is as complicated as a trip to the grocery store: You need a comparison shop, add and subtract, stick with a plan, and ask questions — nothing more,” says Senator Elizabeth Warren (D-MA).

Control is key

“Money, like emotions, is something you must control to keep your life on the right track,” says Natasha Munson, bestselling author and CEO of Be Magic, Inc – a nonprofit organization dedicated to empowering single mothers.

Negotiation is about balance

Sallie Krawcheck, former Wall Street executive and the CEO and co-founder of Ellevest, said that instead of keeping her negotiation goals private, she sets them out explicitly from the start.

“I say: ‘Here are the three most important things to me’. If I can get these three things, I’m good,” she says. “I find it cuts through a lot of the other stuff that’s lost with the macho, ‘I want to win’ back-and-forth of negotiations.”

It doesn’t hurt to be a little greedy

“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful,” Warren Buffet, chairman and CEO of Berkshire Hathaway says.

Sometimes it’s not about money

“The reason I’ve been able to be so financially successful is my focus has never, ever for one minute been money,” says Oprah Winfrey.

Investing is key

“And I think the more money you put in people’s hands, the more they will spend. And if they don’t spend it, they invest it. And investing it is another way of creating jobs. It puts money into mutual funds or other kinds of banks that can go out and make loans, and we need to do that,” says Michael Bloomberg, CEO of Bloomberg LP.

Don’t underestimate small business

“When a small business grows like eBay did, it has a multiplier effect. It creates other small businesses that supply it with intellectual capital, goods, and services,” says Meg Whitman, former CEO of Hewlett Packard Enterprise and current CEO of Quibi.

Confidence and self-worth go a long way

“Being confident and believing in your own self-worth is necessary to achieving your potential,” says Sheryl Sandberg, COO of Facebook.

Let change be your motivator

“My goal was never to just create a company. A lot of people misinterpret that, as if I don’t care about revenue or profit or any of those things. But what not being just a company means to me is not being just that — building something that actually makes a really big change in the world,” says Mark Zuckerberg, CEO of Facebook.

We’re ready to conquer the world!

The Conversation (0)