John Eringman, known as @johnefinance on TikTok, aims to help his followers build healthy financial habits. Eringman graduated from the University of Cincinnati as a finance major, and has amassed over 1.4 million followers across his social media platforms.
Recognized by GOBankingRates as one of Money’s Most Influential, here he shares how anyone can build wealth, the importance of investing in yourself during periods of inflation and why everyone should be talking about money.
What’s the one piece of money advice you wish everyone would follow?
Stop spending money on things to impress other people. Designer clothes and exotic cars will keep you chained to a job you don’t like.
What’s the most important thing to do to build wealth?
Whether you earn $50,000 per year or $500,000 per year, live within your means. Millions of people build wealth on a modest salary.
What’s your best tip for fighting the impacts of inflation?
Invest in yourself and learn new skills. You must increase your income to fight against inflation.
What’s the biggest mistake people make when it comes to money?
The biggest mistake is not talking about money. Start conversations with your friends and family about money. The more you talk about it, the more you learn about it.
Jaime Catmull contributed to the reporting for this article.
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