Erin Lowry is the author of the “Broke Millennial” series of books. She focuses on helping millennials with finances through her writing, presentations, worksheets and courses.
Recognized by GOBankingRates as one of Money’s Most Influential, here she shares the best way to master your money and the key to building wealth.
What’s the one piece of money advice you wish everyone would follow?
That money and personal finance isn’t a one-size-fits-all situation. I wish everyone would understand that mastering your money is far more about psychology than anything else. There’s so much emphasis on slashing, cutting and deprivation in personal finance advice, but that isn’t a way to build a healthy, fulfilling life or a positive relationship with money. It’s important to dig into why you react and relate to money the way you do, and use that information to build a foundation and plan that will actually be effective for you.
What’s the most important thing to do to build wealth?
Set actionable goals and then invest and be consistent, even if you start with a small amount. It’s much harder to achieve your big financial goals without investing.
Jaime Catmull contributed to the reporting for this article.
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