David Chilton: Start Saving Early, Live Within Your Means
He says that it is important to remember to pay yourself first and start putting away money into a savings plan for retirement as soon as possible. He also warns that one of the biggest impediments to managing finances and saving is living above your means. "Living within [your] means is what financial planning is all about," he says, "it's still what we struggle most with." As he explained in a previous interview, you shouldn't feel the need to "keep up with the Joneses," and should instead be realistic about how much money you can afford to spend so that you have some left over to save. The longer you are saving, even if you can only afford to put away a little at first, the longer you have for you money to grow, he explains.
While this may seem like straight-forward advice, Chilton explains that these basic principles of smart saving and realistic spending are the core practices in any effective financial strategy. In his books and his sought-after talks, Chilton doesn't propose any get-rich-quick schemes or fancy strategies. Instead, he relies on the tried-and-true basics that have been proven to work—and will work for you. While the root of his talks are about money, they also touch on personal life goals. He teaches audiences to believe in themselves, to learn from their mistakes, and that with a few simple tweaks, you can achieve what you want out of life.