Alexa von Tobel quit Harvard Business School and, at 22, launched a financial planning start-up for women. Nine years later, that start-up, LearnVest, has expanded its services and Northwestern Mutual has bought the company for a reported nine figures.
As part of the Council for Economic Education's #MySavingsTip campaign, the founder and CEO shares her top piece of advice.
Von Tobel shares with CNBC the three other crucial financial tricks that have helped her personally and professionally.
1. Have a financial plan
The reason she says she was able to start a company is because von Tobel had a well-thought-out financial plan of her own. Doing the math to figure out the money she needed and how much time she had paid off.
"I had emergency savings," she says. "I had nine months to get the company off the ground and raise money for it or I had to go back and get a job."
Von Tobel says that financial plans are key to making long-term decisions.