J.K. Rowling may be the billionaire author of the hugely successful “Harry Potter” franchise, but that doesn’t mean that she was always wealthy. In fact, before she wrote the first “Harry Potter” book, she was a single mom living on government assistance in a small apartment. The following is some of the financial advice that J.K. Rowling has to offer:
Never Take Success for Granted
Even though her first three “Harry Potter” books were on numerous best seller lists, she never took her success for granted. She’s stated that talent and intelligence won’t save anyone from bad luck, citing her past short marriage, single-parent status, joblessness, and dependency on welfare as examples. She advises people to plan ahead even when successful to avoid the financial pitfalls that bad luck can often bring.
Pay With Cash When Possible
Depending on welfare has made Rowling more conscious about the use of cash. Using cash instead of credit makes it easier to stay out of debt. People who use credit cards tend to spend more than those who use cash and fall into debt much quicker because they are spending money they don’t have and being charged interest on that money to boot.
Get Professional Financial Advice
Hiring a professional to get financial advice may seem like an unnecessary use of money, but it can end up saving a person a lot of money over the long-term. A professional financial advisor can help people to avoid making bad financial mistakes.
Save for Retirement
It’s important to begin saving for retirement as soon as possible. Otherwise, when the time comes, a person at retirement age may be forced to continue working because they simply can’t afford not to. People who have plenty of money now should put money away as well – just because they are financially stable in the present doesn’t mean that they will be in the future, not without a retirement plan in place.
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