Best financial advice?

Hey everyone. I wanted to start a thread about the best financial advice you have given or received (sorry if this exists somewhere else, but I couldn't find it specifically). I think the other members here probably could use one central thread where people can add the best financial advice they have as well.

I'll kick it off:

1. Used Cars- If I could go back in time and do some things over, I wouldn't have bought new cars when I did, I would have saved the money by buying a certified pre-owned or something like that and then invested the difference. We're talking thousands of dollars you can save and the reality is buying a car that is a year or two old with lower mileage is a way better use of money than buying brand new, especially if the dealer certifies it and it is still under warranty. When I was in my early 20's I wanted something brand new when I finally got to the point where I could buy a car, and it worked out fine, but I could have done just as well with something not brand new, and made that money work for me.
2. I don't claim to know a lot about the stock market (and neither should most people). But one thing that has worked for me is buying a couple shares of an ETF (SPYDR) every month for the last several years. Sure, the market has gone up and down, but every month I buy a couple shares of this ETF which tracks the overall market and it has increased in value by a lot. The market overall tends to go up over time, and if you just buy a little each month, you limit your risks when there are market adjustments. Periodically sell a few shares just so you can actually realize some gains too. If only I had bought more shares each month .

I will try to think of more financial advice to add to this thread, but curious what other members think. @Shobir? @Gorcey? Thoughts?

Keeping a budget is key. If you keep an eye on all of your expenses and then set aside a specific amount to save and then have the rest left over for fun stuff, you'll be in a good spot. The key is having the will power to not dip into the amount you save and to stick to the amount you designate for fun religiously.

Helps to set some goals too- give yourself a target and a timeframe. You may find that it motivates you to save more and not use the money you earmarked for fun. Everyone motivates differently, but for some people goal setting is a good way to challenge yourself and hit your financial benchmarks.

Using online tools such as Quicken Intuit helps me to know exactly where my money is coming from and where it is going. I can account for 100% of my expenses. I can look at where I am spending the most and then try to cut back if I can. Seriously this software has really helped me to get a grasp of my finances. Here's a great review.

Buying everything used makes sense to me. When someone buys something new the value drops immediately and the resale value is significantly less. When you buy something used the resale value is close to the value you purchased the product at. I realise not everything can be bought used but I try to find used reliable items which are classics. Obviously these items will be reliable and and hold their value. Some of the used items I have bought in the past include washing machines, cookers, fridges, clothes, toys, computers, tablets, furnitures and housewares.

If I do have to buy new I buy things that will hold their value over time so I can resell it possibly for a profit.

Just my two cents!

Learning about how to make save and invest money has helped me to become wealthier. There is so much more to personal finance and books such as Rich Dad Poor Dad, Millionaire Fast Lane, Millionaire Next Door and The Merchant of Babylon have helped me to become better with money. If you're looking to change on a deeper level I would recommend these books because they made a big impact on my life.

Check out this video by Robert Kiyosaki. Admittedly Robert Kiyosaki has shot himself in the feet with some unsuccessful ventures however his theory about saving and investing in assets that pay income is still sound.

Living in an area where the rent/house prices are low have helped me to get ahead. All my life I have strived to pay very little rent. When I finally bought a house I bought a run down house in an inexpensive area where the prices were low. My mortgage payments are very low compared to my peers at work and during my 5 years at the property I've constantly renovated and expanded to increase value. My home has probably now appreciated in value and I could sell it for a profit. I've also rented my vacant rooms and basement out to contribute towards the rent. All these actions have controlled my expenses and helped me save money.