21 best money tips ever

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

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20. Focus on your needs, not wants
Focus on your needs, not wants
Liz Claman
Fox Business Network anchor and author of "The Best Investment Advice I Ever Received"

Best advice I can give: We all have to learn from our mistakes of overleveraging ourselves and acting like 5-year-olds -- "I want four cookies." You don't need four cookies; you only need one. It's not about what you want, it's about what you need.

We all must reassess our consumer behavior. It's not good enough to live within our means -- we have to live beneath them.

Best advice I ever got: My father, Mo Claman, would say, "Liz, buy good companies going through bad times." When I was growing up, he was a big believer in Kodak, and every day he would get the paper and run his finger down the stocks column to check on it. The stock went through some rough periods, but he kept his Kodak shares, knowing it was a good company. He swears he put us five kids through college thanks to that stock.

NEXT: Have faith that you'll persevere
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Last updated May 04 2010: 4:23 PM ET
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