Why financial advice from rich people makes sense



Rich people are all around us and I’m betting most of them worked pretty hard to get where they are.

Not all rich people are shady investors or business people but let’s be honest, we know they exist.

The truth is there are many successful people who achieved their goals because they put in the effort. Not everyone has a top-notch career or thriving business bloom out of sheer luck.

When it comes to our own finances it may be soothing to talk to anyone who will listen, but learning about how to fix your money situation from the wrong people can slow down progress.

If you find yourself in a financial mess why would you seek advice from people who are in the same money crisis as you? If they can’t even get their own finances in order taking financial advice from them may not be in your best interest. That’s the truth.

It’s a serious matter that too often people push aside because they think they will never find their way out of debt when all it takes is a bit of homework and dedication.


Who are these rich people?


You don’t need millions to be rich, just be smart with your money. Just because someone is debt free doesn’t make them rich but to others it may be a rich lifestyle they could only dream of. It all boils down to perspective and reality.

Others may position love over money and define that as rich but for the sake of this blog post we’re talking strictly money because love won’t pay the bills.

Only you can define who the rich people may be to you because it’s you who wants to learn about money management from someone who’s got it figured out. These rich people you seek perhaps may be your parents, siblings, a close friend, business owner, co-worker or even a celebrity.

Don’t get stuck on someone who is barely making ends meet and doesn’t know what their own worth is. It reminds me of that saying where you have to walk the walk and talk the talk and it’s no different in this situation.

Rich people DO know what they are worth financially because they want to see that number grow. If you had the opportunity to sit and talk with someone who was living a stress free financial life wouldn’t you want to find out the secret to their success?

If you are lucky to know someone that is successful and can meet up with them with a simple phone call then I’d take that opportunity. If not, that’s fine too because you don’t have to know someone personally to learn from them.


Buying the secrets of success


Most likely you will be able to read just about anything you want to online for free or in a book from the library about successful rich people and their tell-all secrets.

Should you pay to learn about their secrets?

That’s up to you and depends who you are getting the advice from. I’m pretty sure my parents wouldn’t bill me and I look up to them financially.

It often amazes me how many people will pay any amount of money when almost everything is free online or in a book you could borrow from the library for free.

The same thing goes for personal finance and budgeting education. It’s not rocket science and that’s why my budget is FREE.

All you have to do is look online and you can find so many free financial tools including free budget templates from various websites across the globe.

They want to help you succeed and know there’s no magic behind saving money.

Investing is another issue.

It’s really not always a matter of chasing the rich people it’s about getting involved and educating yourself. Before we designed our budget we had a look online to see if we could read about successful people who used a budget and how they made their money.

Why? Well, budgeting was a new concept to us and we wanted to learn what others had done to pay off debt and kill the mortgage.

We read as much as we could from celebrities all the way to successful personal finance writers to the odd investor as investing is something we don’t do on our own. Knowledge really is power but it has to be knowledge that is useful to building your success.

Most of these rich people are rich because the general population is making them rich.

You want to know what their secret is?

You may just have to pay for it.

That’s right some of these people who claim to know the path to debt freedom want you to buy something from them. They want you to buy what’s in their head.


Many people will spend money they don’t have to find out how they can save money. I guess it makes sense if you believe in the theory “You have to spend money to make money”. In this case it would be “You have to spend money to learn how to save money” haha!

Just because you forked over your heard earned cash to get a glimpse at success it doesn’t mean you just bought yourself a free ride to the bank. Heck, Investors might well hang up their calculators and give up while the going is good if that was the case.

You have to work hard to be successful. What I learned is that in order to be like the rich people you need to do one thing and one thing only, Believe in yourself.

If you don’t believe in yourself first no amount of work or buying get rich quick programs that promise you freedom for life or in the least freedom from simple debt will work.

All too often we get caught up in the dream of being like these rich people because we are too lazy to do the work ourselves. Your bank account isn’t going to grow overnight, it takes time and with that lots of get up and go.


Buying success


You might even be spending your money online buying products that promise to deliver success only to be unsatisfied with a no money back guarantee.

I bet you know someone who has been involved with work from home scams that promise you will earn 6 figures in a year and this is because we believe too much in the easy life. It’s never that easy.

On the other hand, you could spend money to learn how to be like the rich people only to find out you could have found all that out for free.

If you want to be like the rich people all you need to do is take control of your money, create a budget plan or a product that is going to make you rich.

I’m not talking about the same boring products that everyone is selling and is dead easy to do yourself. I mean something that will take you from the bottom to the top. For example, you might want to cook and buy a food truck to feed the masses your unique food ideas.

Like I said being rich to us might be different to the rest of our readers but what is important here is that we understand that money is not hard to understand, saving is not a difficult task and being organized is dead simple.

Don’t be lazy either because there is no quick fix. I don’t care who promises you the sun, moon and stars the only way to riches is following in your own footsteps not someone else’s.

On that note…. here is the reason for this post.


Reader Question


Dear Mr.CBB

I’m flat broke and don’t know what to do with my life. I have creditors calling all the time and I’m barely able to pay the bills. I’m so desperate right now I’ll believe just about anything or do anything to fix my financial situation.

I’m tired of spending my money on things that end up being a waste such as the $20 for someone to design my resume which he promised would be seen by employers and get me the job I deserve.

What a disappointment. It’s easy for people to colour words so those people like myself who are desperate buy into their product. I only have myself to blame but I’m learning.

My brother is not as broke as I am but he’s always telling me what I should be doing to pay off my debt but he can’t even do it himself.

I get angry because I don’t understand how he can try to be helpful to me when he can’t even help himself. I don’t know who to believe any more when it comes to money.

I’d go to the bank but there doesn’t seem like an awful lot they can do for me. I know getting a second job would help and that is first on my agenda. I’ve only started thinking about it after I read how you are working two jobs for your family.

I think it’s great that you are doing it just to get your foot in the door and not for the money. I also think it’s pretty cool that you are debt free before you are even 40. I envy you and hope one day I can say that I am successful with my money like you are but I know I have a long way to go.

Where do I begin if I want to be rich one day and not stinking broke like I am all the time? I don’t want to listen to people who have no clue what they are talking about like my brother I want to learn from successful people, rich people or people who just understand money in general.

I read your blog not because I think you are rich and famous because you certainly don’t have millions and we don’t know who you are but I read it because I believe in you and connect with you when you write.

I guess what I’m saying is it’s easy to understand you and I feel you understand your audience right back.

Thanks for any help, I just want out from this money stress.


Hi CW,

Thanks for believing in me but I have to say that I try to be as transparent as possible aside from who I am. I have nothing to hide because saving money is not hard.

Earning money is not hard either as long as you have a job. If you have a job you love it’s 10x better because now earning money is like your hobby.

I read your email over and over and it reminds me of a situation where a buddy of mine who is flat broke was always fighting with family members. He hated his life, he hated his debt and thought that everything was going wrong in his life and it wasn’t fair.

What wasn’t fair was that he didn’t give himself the opportunity to become that rich person that he craved. He was too busy getting advice from his mother-in-law who was on the verge of bankruptcy. She told him what he needed to do, how to do it and was going to put together a spending plan together for him.

Wait a minute here… so she has all the answers yet she is as good as going bankrupt?

Sure she may have learned some stuff along the way BUT until you can show me that it’s working for you I don’t know if I’d be taking advice from her. That’s just me and I’m not trying to be mean as I’d appreciate the help but she’s not the inspiration I’d be looking for.

Today you are here looking for tips and all I can tell you is to read the blog. I have lots of free lists, our free budget and I talk my heart out in every blog post.

I don’t teach people how to become rich I teach them how to live with-in their means so they can lessen debt and save money.

What you do with the money you save just might bring you the riches you crave.

What I am doing is offering everything I’ve learned over the years to my fans for free. Will it work for you? It may and it may not but what I can tell you is I don’t sugar-coat anything.

If you have the time a second income is always a great way to supplement and pay down debt as long as that is what you use it for.

I don’t consider myself a rich man but like I said we all define rich differently. I’m humbled that you have come forward to tell me what you think which makes me happy.

If you are serious about getting out of debt you will do it. If you are serious about becoming rich you will do it. Nothing is holding you back but yourself.

We don’t have time to fluff around with our lives so either we get busy learning and making a difference or we sit in the corner and whine, your choice.

So, decide what you want to do and who you want to listen to but don’t get sucked into a fantasy world of making it like the rich people do by someone offering you a dream for your credit card number.

What other tips can you offer CW about ways to become successful financially and how to get out of debt?


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  1. not always true,
    I know few rich people and if I copy paste methods they used, I would be just poor spammer,
    world is ever changing theater, which is always changing, so if you want to be rich, you have to be persistent, find nice idea, and have no moral obligation to self and others….

  2. Of course it makes sense, except when those people inherited a huge amount of money from their parents or someone else. Everyone can become rich if he/she REALLY wants to. But most people just say it out loud without really believing it…

  3. Some good advice here for the person. One thought is for the resumes, there are employment centers that will help you write a good resume, update the one you have and help with employment matters and they don’t charge for it. Has this person tried talking to their bank?? They might be able to get a financial plan going with help that will get them out of the hole. Plus they can tell those that offer questionable advice that they are working with the bank and Thanks but no thanks….
    Working through things like your budget and other work sheets you have been kind enough to make available for all of us should help this person too. Good luck to them getting things in order and out of the hole…

  4. There are absolutely no get rich schemes…at least I haven’t found them!

    The way I see it, you need to figure out who you are, what you want, and devise a game plan to get there. This is much easier said than done but it’s absolutely essential to succeed. Plan, Do, Check what you Do, and Act again. Following personal finance rules easy to list and hard to do in practice. But you have to keep at it 🙂

    Start with one and go from there. You know it!


  5. Love how practical and down-to-earth you are Mr. CBB. No sugar-coating or get-rich-quick schemes! So refreshing!!!

    1. Thanks Megan… there is no get rich quick schemes but so many people believe there are especially when they are vulnerable. It doesn’t even have to be get rich..it’s just simple stuff that people pay for that they likely can find free online but the fall into the belief system of who they follow or stories they read that such and such will make their lives great and wonderful and everything will work out. It’s not that easy sadly.

  6. Personally, I am a big lover of 2 items…pay yourself first and Tony Robbins game plan for success.

    If you are in debt, you’ll need extra income to dig yourself out of the hole quickly so that it does not become a permanent lifestyle. With the 2nd income, before you pay anything, set aside a little as an Emergency Fund. What’s the point of digging yourself out of debt only to have the first emergency throw you right back in? Plan for an emergency before it happens! Other than the Emergency Fund savings, the entire 2nd income should be used for debt repayment. Set a reasonable time frame, say 3 years to achieve that goal, not including a mortgage if you have one, & then you’ll know how much extra you’ll need to pay on your debt each and every month to take step one towards your debt free goal.

    Tony Robbins suggested in one of those middle of the night infomercials – and I took it and used it with GREAT success:

    1. Have a dream.
    2. Figure out a plan to achieve your dream and write it down.
    3. Believe in yourself. Do not sabotage yourself just to prove you don’t deserve success & confirm your poor self esteem that’s standing in your way. It’s life – nobody said life is easy.
    4. Do not quit! Do not quit when it gets hard…because it will. Soldier on thru the tough times…you can do it!
    5. Do not quit if you achieve your dream…this is not the time to sabotage yourself with celebrating!!! This is just your first step. Instead, return to step 1 and imagine your next dream.

    Good luck!

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