100 Top Money Tips From Tony Robbins That Are Always Relevant

100 Top Money Tips From Tony Robbins That Are Always Relevant

June 11, 2024   by Virginia Anderson Edited by Chris Cluff

Entrepreneur and investor Tony Robbins is known for dishing out straightforward and actionable financial advice. Here are some of his most notable tips to reach your saving, investing and budgeting goals.

Focus on Your Money Goals

Robbins strongly believes in using the law of attraction to get what you want in all areas of life — including your finances. He says you can attract success over time by manifesting a positive attitude and mastering your money goals.

Surround Yourself With Successful People

Do you know a few people who have achieved financial success? Maybe they own their own business or plan to retire early. Talk to them and find out how they realized their goals. They can inspire you to reach your own.

Delay Rewards Until You Meet Your Goals

To truly realize financial success, you may need to make some sacrifices with the hope of better rewards in the future. Exercising willpower to forgo things you don’t need today is a skill you can develop. Use it to master your financial self-control.

Learn How To Read Basic Financial Statements

You don’t have to be an accountant or financial adviser to accumulate wealth. However, learning the basics of financial statements can help you if you decide to invest in stocks. You can use financial statements to evaluate a company’s performance and determine whether it meets your investment criteria.

Understand Common Financial Terminology

Many terms used in personal finance and investing may be unfamiliar to you. Examples include high-frequency trading, dollar-cost averaging and exchange-traded funds. Learn what they mean and how they apply to your investment strategy. Knowing the terms will allow you to understand investment news and decipher earnings reports.

6. Determine Your Risk Tolerance

Investment strategies typically fall into three categories: aggressive, moderate and conservative risk tolerance. Aggressive strategies are highly volatile, with lots of ups and downs. Conservative strategies aim for consistent, average returns. Your risk tolerance should align with your financial goals.

Set Financial Goals

Anyone who wants to achieve financial freedom needs a plan. Your financial goals form the basis of your plan. Determine what you want to achieve over the short and long term. Example goals include establishing a budget, paying off debt and creating an emergency fund.

Try SMART Goals

The SMART acronym stands for specific, measurable, achievable, relevant and time-bound. Robbins advises using SMART to set smaller milestones for your long-term goals. For instance, if you want to set up an emergency fund, you could set SMART monthly milestones to meet along the way.

Be Obsessed With Not Losing Money

Robbins notes that wealthy people hate losing money because it takes significant effort to rebuild wealth once it’s lost. Apply this rule to all your financial decisions, including your monthly budget, investments and savings goals.

Become a Learning Machine

In your quest to achieve financial success, focus on personal growth. Always be learning. Read personal finance books, listen to podcasts and read investment-related articles. As you feed your mind, you’ll open yourself up to new opportunities you didn’t know existed.

Don’t Underestimate the Power of Giving Back

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