38 Money Lessons I’ve Learned in 38 Years

I am turning 38 this year. In fact, by the time you watch this, I will have just turned 38. But despite that, I am still so excited to share these money lessons that I’ve learned with you all. These are little tidbits of financial knowledge, and even a few actual stories from my own experience, that you can hopefully take away as you start or continue on your wealth-building journey.

Number one: When it comes to building wealth, shortcuts are a fool’s errand.
When I was young, I thought I was a hotshot financial adviser. I thought I knew everything about the market. I made some quick money on some aggressive strategies, doubled down, and then I lost all of it. Ninety percent of options contracts expire worthless, making them more akin to gambling than investing for most individuals. The complex nature of options requires extensive market knowledge and perfect timing that even professionals rarely, if ever, achieve consistently.

Number two: Cars are a wealth killer.
Right out of college, after getting my first job, I financed a peach of a car: a 2005 Acura TL. The good news? It only had a 9.25% interest rate, and I had to have a co-signer on it. That decision ended up costing me big in interest and insurance. If I had bought—or even financed—a more responsible car relative to my income and age, I would have had a lot more margin in my younger years. You don’t need a fancy car to live a good life. Not even remotely.

Number three: A house should serve a purpose, not an ego.
When I bought my first house, I was so broke that I didn’t think about all the other costs, like window coverings. I went to Home Depot and bought $8 stick-on paper blinds for every window in the house. Those blinds stayed on the house until I sold it four years later. Was it pretty? No. But did they work? Yes. Houses come with a lot of unexpected costs, but they don’t always have to break the bank.

Number four: Comfort can be an investment, not an expense.
When my wife and I first moved in together, I was a stickler about running the heat. I thought it was like setting money on fire. So, for longer than I’d like to admit, we both slept in hoodies, sweatpants, and wool socks during the winter. Looking back, I should have realized that some things in life are worth more than the money you save by pinching pennies.

Number five: Your money should work harder than you do.
Invest in assets that generate passive income through dividends, interest, or appreciation. Set up automatic investments and let compound interest do the heavy lifting over time. Review your portfolio regularly to ensure it’s aligned with your goals and risk tolerance—or consider hiring a professional like us to ensure your plan meets your unique needs.

Number six: True wealth is freedom to focus on what really matters.
Build financial security so you can make decisions based on values rather than necessity. This might mean taking a lower-paying job, spending more time with family, or even creating a “freedom fund” separate from your emergency savings that gives you options when life-changing opportunities arise.

Number seven: Money is a tool, not a goal.
Identify what you really want your money to do for you. Is it security? Experience? Helping others? Align your decisions accordingly. Evaluate purchases based on whether they advance your goals rather than social status.

Number eight: How your journey started does not define how it ends.
Focus on your current financial decisions rather than past mistakes. Anyone can build wealth through consistent positive habits. Your story is still being written, and you control the next chapter.

Number nine: There is more to wealth than money.
Invest in relationships, health, skills, and experiences that bring fulfillment alongside financial growth. A rich life balances financial goals with personal growth and community connection.

Number ten: Wasting time can be more expensive than wasting money.
Time in the market is your most powerful wealth-building tool. Delaying investments by even a few years can cost you thousands—or even hundreds of thousands—in future growth. Start now. Even small contributions today can outperform larger investments later, thanks to compounding.

Number eleven: There’s a better way to do money.
Seek evidence-based strategies that align with your situation. Continuously educate yourself through books, podcasts, and The Money Guy Show—or hire a financial adviser like Abound Wealth. Financial literacy is an ongoing journey, not a destination.

Number twelve: Abundance is wealth plus purpose.
Define what “enough” means for you. True abundance comes when your financial resources support meaningful objectives. Practice gratitude for what you already have while working toward future goals.

Number thirteen: Respect the FOO.
Understand the Financial Order of Operations. Prioritize putting your next dollar where it serves you best, building a strong foundation to avoid setbacks.

Number fourteen: Own your financial future or it will own you.
Take responsibility for understanding your finances instead of blindly trusting talking heads or social media gurus. Nobody cares more about your financial well-being than you do. Schedule monthly money dates with yourself or your partner to stay engaged.

Number fifteen: Save a little bit of today for an even better tomorrow.
Start saving early and consistently, even small amounts, to harness compound interest. Automate your savings by directing a percentage of each paycheck to investments before you spend it.

Number sixteen: Being rich is better than looking rich.
Focus on net worth instead of status symbols. True wealth often looks boring but provides security and options. That luxury car could instead fund a year of your retirement.

Number seventeen: Bedazzle your basic life.
Find joy in optimizing necessary expenses while splurging meaningfully on what aligns with your values. Small, thoughtful indulgences often bring more happiness than extravagant ones.

Number eighteen: Credit cards, okay. Credit card debt, no way.
Use credit cards strategically for convenience, rewards, and protections—while paying them off in full every month. Credit should be a payment method, not a borrowing tool.

Number nineteen: Failing to plan is planning to fail.
Create a written plan with goals, timelines, and action steps. Review and adjust regularly as circumstances evolve.

Number twenty: Behaviors change your balances.
Daily financial habits impact wealth more than occasional big decisions. Focus on small, consistent actions that compound over time.

Number twenty-one: Your savings rate likely matters more than your rate of return.
You can’t control the market, but you can control how much you save. Doubling your savings is more powerful than chasing higher returns.

Number twenty-two: In the beginning, they’ll ask why. At the end, they’ll ask how.
Expect skepticism when you make countercultural financial choices. Stick with your plan, and the same people questioning you now may later seek your advice.

Number twenty-three: Discipline + money + time = wealth.
Consistent habits build exponential growth over time. The first $100,000 is the hardest. Create accountability systems to stay disciplined.

Number twenty-four: Develop a mutant mindset.
Prioritize long-term health over instant gratification. Question your impulses and surround yourself with people and content that reinforce good financial behaviors.

Number twenty-five: If you don’t cut back now, you’ll have to cut back later.
Small adjustments today prevent painful sacrifices tomorrow. Create margin in your budget to build resilience.

Number twenty-six: Treat your finances like you’re responsible for someone else’s future.
Apply the same discipline you would if managing money for a loved one. Reviewing your finances as if you were advising someone else helps reveal blind spots.

Number twenty-seven: Building wealth is simple, but not easy.
Focus on fundamentals: spend less than you make, invest consistently, and prepare mentally for the emotional challenges of delayed gratification and market volatility.

Number twenty-eight: What you measure is what you improve.
Track key metrics like net worth, savings rate, and debt ratios. Seeing progress reinforces good habits.

Number twenty-nine: Focus on long-term goals, not short-term noise.
Ignore daily market fluctuations and alarming headlines. Limit exposure to sources that encourage reactionary decisions.

Number thirty: The market rewards patience, not panic.
Study history to understand volatility and long-term recovery. Decide in advance how you’ll respond during downturns. A good plan should succeed before, during, and after volatility.

Number thirty-one: Chasing trends is not a strategy.
Resist the temptation to invest in whatever is hot. Build a diversified portfolio aligned with your goals and risk tolerance.

Number thirty-two: Financial independence is built, not bought.
Focus on daily habits and systems rather than shortcuts. Develop core competencies in budgeting, investing, and tax planning to build lasting independence.

Number thirty-three: The goal isn’t more money, it’s more freedom.
Define what financial freedom means to you—whether it’s flexibility, family time, or passions. Knowing your “enough” number prevents the endless pursuit of more.

Number thirty-four: Spend intentionally, not impulsively.
Implement a waiting period for non-essential purchases. Create sinking funds for spending categories to prevent mindless purchases.

Number thirty-five: Avoiding mistakes can be as powerful as making the right moves.
Study common pitfalls like high fees, market timing, and lifestyle inflation. Learn from others’ mistakes and build safeguards into your plan.

Number thirty-six: It’s a marathon, not a sprint.
Even super savers in their 20s need to stay consistent. Don’t ease up just because you got a good start—keep the pace for the long run.

Number thirty-seven: Progress isn’t linear.
You won’t always move cleanly from one step to the next in the Financial Order of Operations. Sometimes you’ll need to pause and adjust. That’s okay, as long as you have a plan to get back on track.

Number thirty-eight: Last but not least—get excited about building your great big beautiful tomorrow.