My father shared with me one of the most memorable pieces of financial advice I've received. He was getting a bit old and cranky at the time and he was at home drinking a glass of his red wine.
He told me: ‘a dollar saved is a dollar earned’.
It was funny but true and shows that you can grow savings as a result of not spending so much instead of trying to earn more.
Well, today I am the branch principal and wealth manager with Yellow Brick Road Wollongong based in the lovely Illawarra region and I still haven’t forgotten that advice.
It’s a principle I've found to be important for everyone including myself to follow and I share it with many of my clients.