The article features prominent people recalling the best—and worst— financial advice they received as new college graduates.

I believe you can learn almost everything you want to know from people that have already done it successfully!

Included in the survey were David Bach, author of the best-selling FinishRich books, Paula Deen, restaurant owner, author and Food ­Network host, and Robert Kiyosaki, businessman and author of the best-selling “Rich Dad, Poor Dad” books.

David Bach told how he had learned the value of hard work and purchasing a home while in his 20’s.  I agree wholeheartedly with what he said regarding how hard work and saving in your 20s and 30s can determine your future! Amen to that!

Ask all the broke 50 and 60 year old people if they regret not saving and investing when they were young, now that they are running out of time to build their wealth!

Paula Deen learned the value of heeding the advice to do what you love–which was cooking! Look at what a fabulous success she has made of that!

Mary L. Schapiro, chairman of the U.S. Securities and Exchange Commission, said her parents warned her about getting into debt.  She listened to them on that point, but regrets not getting into the habit of saving right away.  Her advice to grads is to fully understand the implications of debt and what it will take to repay the loan.

Probably my favorite is from Carrie Schwab-Pomerantz, ­president of the Charles Schwab Foundation.  She said the best advice she heard was to live frugally and save for a rainy day. She suggests living off 90% of your income and save the other 10%.  I would aim for saving more than that!

Look at how compounding interest on your saved money grows over time so you get wealthy.

You will be SO glad you saved, when you are fishing, while your friends are still working!

Then every day, with every financial decision you make, remind yourself that there are 2 main methods to achieving that goal.

It is a simple concept: Make more (revenue) and spend less (costs). The more money you accumulate, the more you have to invest, which increases your wealth and helps you get rich.

We learned a long time ago, that with some effort, we could save 50% of our meager incomes in order to save money for a down payment on an investment property or to add to our investment accounts.

You may ask, what does that have to do with this great bread machine?

As regular readers of this blog know, I LOVE bargains and believe you can get pretty much everything at reduced prices if you search for them.

The less you spend- the more you have to save and invest!

Long ago, I discovered the gold mine of estate sales and garage sales!  I have been amazed at what people have sold and the fantastic stuff I have been able to buy for a song.

Recently, I spotted this brand new, never used Williams-Sonoma bread machine at a garage sale.

The woman running the sale said her husband had given it to her as a Christmas gift several years ago and she had never used it! She no longer had the box or the instruction book, and that’s why she had it priced at $10!

I asked her if she would take $5 and she happily said Yes!  This terrific Williams-Sonoma item probably sells for $100 or more!

After I paid her, I asked her “If you didn’t want it, why didn’t you take it back, get the money and buy something else?” She said, “Oh I didn’t want to hurt his feelings.”

I said “The money he spent belonged to both of you–doesn’t that seem nuts to basically throw away $100?” She said “Yeah, I guess so.”

So, thanks to her and her husband I now have a brand new bread machine!  There are bargains like this everywhere!

At another yard sale, all books were priced at 50¢ and I found this terrific Bread Machine book!

So now for the cost of one loaf of gourmet bread--I have a terrific machine that will make me countless loaves of fresh bread!

The money I save will be invested in appreciating assets that will build wealth!

The savings all add up!

A loaf is baking right now! Yummm!