21 best money tips ever

Some of the nation's leading business owners, investors, and thinkers share their thoughts on rebuilding your wealth.

16 of 21
16. Be a good saver -- and credit risk
Be a good saver -- and credit risk
John Schnatter
Founder and CEO of Papa John's Pizza, with more than 3,000 locations worldwide

Best advice I can give: Live below your means and be frugal. The economy is going to get worse before it gets better. And folks who have savings have the best chance of getting through this.

Best advice I ever got: When I was a boy, my grandfather and I would go to the hardware store, and he would charge things. I'd say, "Papa, don't you have any money?" And he would say, "I have money, but my credit is good." I didn't understand it then, but he wasn't teaching me that it was good to borrow. Rather, if you borrow money, pay it back promptly so you can maintain good credit. That advice is more applicable now than ever.

In Washington they're spending money like drunken sailors, but that means they have to print money like drunken sailors. They're doing the opposite of what my Papa would have done.

NEXT: Do the homework before investing
Email | Print | Share
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)
Last updated May 04 2010: 4:23 PM ET
More Galleries
Our biggest money highs and lows How much money do you need to feel rich? What are your biggest money mistakes? Money magazine surveyed 1,000 Americans for the answers to these and other questions. See how your answers stack up. More
How we feel about our finances Participants in an exclusive Money magazine survey reveal how they feel about their finances. Although the Great Recession may be over, they're not all that confident about their prospects for the long run. More
8 ways to cut your tax bill To keep your tax bill as low as possible this filing season, you need to stay on top of all the ways the rules have changed. More

Special Offer
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.