Bill Rancic Shares His Top Financial Tips for the New Year (Exclusive)
Bill Rancic brings his years of business success on board Us Weekly studio for sharing his best lessons learned and best advice heading into the new year.
“I think, today, the biggest financial mistake that people make is to spend more than they can afford, and that’s it,” Rancic, 53, said to himself. Us while discussing his new podcast “Dollar Bill”. “I always go back to what my father told me. ‘It’s not how much you make, but how much you save.’ So, you have to be a smart saver, even if it’s $10, $20, $50 a week — whatever it is, get into that habit. Never not do it, and you’ll be amazed at what happens 20 or 30 years from now.”
Rancic is best known as the first winner of the Student. After his reality television breakthrough in 2004, Rancic went on to launch a series of successful businesses, including RPM Restaurant with his wife, Giuliana Rancic. Bill’s latest venture is his podcast “Dollar Bill”, which continues to delve into the world of finance.
In terms of his saving tips, he gave us more clarity on how to keep things safe and secure.
“The money you save will be yours again [you should] find a good financial advisor,” says Bill Us. “[It should be] someone who can give you guidance on how to invest it, but it should definitely work for you.”
Bill also explained why people shouldn’t “even sell anything out there.” [they] must.”
“It depends on what it is,” he commented. “If it’s a depreciating asset, you have to sell it. If it’s something like real estate, it’s an investment property [or] something that God can no longer do, he wants to keep it and pass it on from generation to generation, if you can.”
Bill Rancic
Us WeeklyIn fact, Bill believes that financial health is “just as important” as one’s physical health, further adding that he believes the two are truly connected.
“When you’re stressed financially, it puts stress on your body and if you look at the number one cause of divorce, it’s money,” he said. Us. “Money often worries people and causes them pain and suffering. So, you have to have good financial health to have a healthy life, a healthy marriage [or] a healthy family.”
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The first one Giuliana and Bill star also gave us his top three tips for starting a new business.
“One [to] embrace a term called ‘practice,’ which means stop talking, start doing – actions speak louder than words,” said Bill. “Second, you have to be quick. You have to adapt, adjust, react, and if you’re not quick, you’re gone. And third, it’s about and risk. It’s about understanding risk, respecting risk, and turning risk into success.”
For Bill’s wise financial words, watch the video above.
With reporting by Christina Garibaldi
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