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Getting tips on how to handle your personal finances from billionaires isn’t as daunting as it may seem. While yes, there are some wealthy people who were lucky enough to be born into their money, there are also many, many others who have built their own wealth themselves. Here are 5 tips from billionaires that can apply to anyone struggling to handle their personal finances.

Start early, or as soon as possible
If you’re young, I’m sure you’ve heard it over and over again: start saving money now! Retirement and large life expenses such as buying a home may seem like ages away but they will creep up on us sooner than we expect them to. If you’re reading this article and thinking, “but I’m in my 40’s and struggling, this point is irrelevant,” think again. Skew this advice a bit to “start as soon as possible.” Your future self will thank you for it.

Believe in yourself
No matter what your situation, change is possible, as long as you choose to believe in yourself and your capabilities. To quote the billionaire Oprah Winfrey, “You become what you believe. You are where you are today in your life based on everything you have believed.”

Find what you love and make money from it
The once homeless single father, Christopher Paul Gardner, is now a wealthy millionaire who found one of the many secrets to success. Work will not feel like work when you wake up every morning at dawn and think, I can’t wait to do what I love!

Remember the fundamentals
If you plan to invest your money, choose companies that have a strong annual cash flow and don’t run the risk of technical obsolescence. Billionaire Warren Buffett invested his money at the start in insurance companies, which isn’t glamorous but hey, it worked.

Avoid the hamster wheel
If you’re always pursuing lavish things that you don’t need, your financial troubles will stay on the hamster wheel, not the upward escalator which leads to wealth. Warren Buffett benefitted from this by living in the same house he’s lived in for more than 60 years. He bought his home in 1957 for only $31,500.