11 financial experts share the best money advice they've ever received

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• Money advice can come from friends, financial experts, and even your parents — who should you trust?
• Because money advice is subjective, what works best for one person may not work best for another, but it's helpful to have some options.
• Here, financial experts share the 11 best money advice they've ever received.

Over the years, you may have gotten money advice from various people, from your parents to a certified financial planner (CFP). However, until you implement that advice, it's hard to know what will work for you.

There's a lot of different financial advice out there, and too much can be overwhelming and demotivating, Andrea Woroch, a consumer expert, told Business Insider in an email. "In order to be successful in improving your financial situation, follow and apply tips that fit your current lifestyle."

For instance, she said that it may not be possible to pay off your credit card balance in full every month if you're on a limited income, but you may be able to consolidate your debt using a low-interest personal loan to save on interest.

Below, financial experts share 11 tips about the best money advice they've ever received. (The responses have been edited for length and clarity.)

1. Live on less than you make

One of the best pieces of money advice is to live below your means. Everyone has different income levels, savings, debt, etc., yet everyone wants to impress others and "keep up with the Joneses."

But that's a quick way to end up in a lot of debt. Instead, people should prioritize saving and investing for the future — things that can help you reach financial freedom — over upgrading your car or house just because you want to.

A lot of people have little or no savings due to overspending on unnecessary upgrades. These people can end up in trouble if they're faced with an unexpected job loss or other emergency.

— Todd Kunsman, marketing and growth, Invested Wallet

2. Always use cash

"Investments are fine, but always have cash if you need it." This advice is from my late father, a child of the Great Depression. It's kept me out of major trouble in the past and is solid advice for both individuals and businesses.

— James Stefurak, CFA, founder/editor, The Invoice Factoring Guide

3. Take willpower out of your saving habits by setting up automatic transfer

When you set up an automatic transfer, you take willpower out of the equation, and it makes saving effortless and consistent.

Make it even easier using an app like STASH, which helps you save automatically by analyzing your spending and earning patterns. The app learns when you have extra cash to spare and, little by little, money is saved into your STASH account, where it earns interest until you decide to invest it or put it toward one of your goals.

— Andrea Woroch, consumer expert

See Also:

• How Americans use their credit cards differently across the US
• 4 things experts think credit cards will be used for in the future
• Many countries don't use credit scores like the US — here's how they determine your worth

SEE ALSO: 12 countries where men earn significantly more than women