Stop Taking Money Advice From Friends and Family: Find the Right Mentors
There’s a popular saying: you become the average of the five people you spend the most time with.
That includes your bank balance.
If your friends are broke, chances are they aren’t the ones to ask about investing, starting a business or building wealth.
Here’s why you should be selective about financial advice—and how to choose mentors who move you forward.
Your Circle Shapes Your Income
Studies show we subconsciously mirror the behaviours, habits and even salaries of those around us. If your peers complain that “money is evil” or “rich people are selfish,” you’ll pick up those beliefs. If your friends waste money on things they can’t afford, you’ll normalise that, too. Social proof is powerful, so choose wisely.
Don’t Take Money Advice From Broke People
Would you ask someone who’s never run a marathon how to train for one? The same applies to money. That well‑meaning uncle who’s always in debt might love you dearly, but his advice could keep you stuck. Tony Robbins, Wayne Dyer and Deepak Chopra all stress the importance of modelling success. Find mentors who’ve achieved what you want, and listen to them.
How to Choose a Financial Mentor
- Look for alignment: your mentor’s values should match yours. If you prioritise freedom, don’t follow someone obsessed with grinding 24/7.
- Check their track record: real wealth leaves clues. Research their businesses, investments or teachings.
- Invest in proximity: read their books, join their programs and attend their events. You don’t need to know them personally to be mentored.
Ready to upgrade your circle? Start by watching the Total Money Magnetism video. It includes stories of how hundreds have replaced bad advice with guidance from wealthy mentors—and how you can, too.
