Investing in financial health goes beyond buying stocks or saving for retirement. We asked local business leaders to share the best financial advice they have received—and the guidance they now offer based on personal and professional experience. Here is what they shared.
Audra Giese, president, MSI Plumbing & Remodeling, Lebanon
Some of the most impactful advice I received came from my mom, though it wasn’t framed as financial guidance: “Don’t buy it unless you love it.” That lesson taught me to think long term and look beyond what is immediately appealing.
That mindset carries into how I view investments today—especially those you cannot see. It is easy to prioritize finishes and décor, but the true protection of a home often lies behind the walls. Plumbing, electrical systems and insulation may not be glamorous, but neglecting them can become costly over time.
Before returning to my family’s business, I spent three years working in banking. One habit I strongly encourage is regularly checking your accounts online. Fraud and errors happen more often than people realize, and catching them early makes resolution much easier. Setting up balance or transaction alerts is a simple way to stay informed.
Michelle Heide, private wealth advisor, Gentlestone Wealth, Ameriprise Financial Services, Clinton
Two people gave me great financial advice early on. When I got my first job in seventh grade working at an apple orchard, my mom told me to pay myself first. Save a set percentage—15 to 20 percent of net pay—before spending anything else.
My high school psychology teacher taught us to set goals and write them down. We were encouraged to be specific, even cutting out pictures of what we wanted and placing them where we would see them daily. The more specific the goal, the more committed we become.
I encourage people to focus on what they can control: saving and spending. If you think you cannot save, track every expense for a month. It often reveals opportunities to cut back. Never let emotions drive investment decisions, and always maintain a cash cushion for emergencies.
If your employer offers a retirement plan with matching contributions, contribute at least up to the match—it is free money.
For children, use “buckets”: save, spend and give. Teach the difference between needs and wants early.
Amanda Maddalena, owner, AM Salon, Flemington
One of the most important financial lessons I’ve learned as a business owner is to price and spend based on your reality—not someone else’s. Understand your true overhead, including rent, utilities, education, insurance, payroll and the cost of delivering quality service.
Pricing should reflect what it takes to operate sustainably. Copying competitors without knowing your numbers often leads to burnout or failure.
Personally, the same principle applies. Know your income, expenses, goals and values. Financial health comes from clarity—not comparison.
Vic Fiore, owner, Magnolia Home Remodeling Group, Union
Start saving early and reinvest profits back into your business. Capital improvements, talented employees and incentives all require investment. Paying for quality—vendors, installers and service—leads to long-term rewards.
Nick Berezansky, owner, Central Jersey Exterior Cleaning Services
A mentor once advised me to use financial “buckets”—checking, savings, insurance and investments—and consistently fund each one. Starting early matters because tomorrow is never guaranteed.
Business owners should find a mentor in their industry and listen. Learn from their failures and successes. Your network truly is your net worth.
Gerri Perez, Realtor, Coldwell Banker, Basking Ridge
Buy property. Building wealth often starts with real estate. I told my son to invest instead of paying rent. Three years later, he made a $105,000 profit.
My mother-in-law always said small daily expenses add up. Skipping that $7 coffee can help build a future down payment.
Ti Patel, owner, Montessori Kids Universe, Chester
The most impactful advice I received was to create a detailed budget and sales forecast. Understanding financial statements—the profit and loss statement, balance sheet and cash flow—is essential.
Regularly review expenses without sacrificing quality, and closely monitor cash flow. It is the lifeblood of any business.
Luca Blessent, owner, K9 Resorts of Hillsborough
After losing his parents at a young age and growing up in a poor family in a small Italian town, Luca Blessent learned early financial discipline. His father’s advice—“Don’t spend money you don’t have, but pursue your dreams”—shaped a conservative, long-term approach.
Blessent believes borrowing can be appropriate when tied to clear goals and a solid repayment plan, but never without forethought or accountability.