Bill Ranczyk Shares His Best Financial Advice for the New Year (Exclusive)

Bill Ranczyk brings his years of entrepreneurial success into the boardroom Us Weekly studio by sharing his greatest lessons and best advice entering the new year.

“I think the biggest financial mistake people make these days is they spend more than they can afford, and that's it,” Rancic, 53, said. We discussing his new podcast, Dollar Bill. “I always go back to what my father told me. 'It's not how much money you make, it's how much money you save.' So you have to be a disciplined saver, even if it's 10 , $20, $50 a week – whatever it is, pick up the habit. Never do no do that and you'll be shocked at what happens in 20 or 30 years.

Rancic is best known as the original winner Apprentice. Following his success on reality television, in 2004 Rancic launched a series of successful ventures, including the RPM restaurant chain with his wife Juliana Rancic. Bill's latest venture is his podcast, Dollar Bill, which delves further into the world of finance.

Along with his savings tips, he gave us some additional explanations on how to keep assets safe.

“The money you save is really going to be up to you and (you should) find a good financial advisor,” Bill said. We. “(It should be) someone who can give guidance on how to invest it, but it should definitely work.”

Bill also explained why individuals “should never sell anything unless (they) have to.”

“It depends on what it is,” he noted. “If it's a depreciating asset, you have to sell it. If it's something like real estate, investment property (or something God is no longer making), you want to keep it and pass it down from generation to generation if you can.

Bill Ranczyk gives us his top financial tips for the New Year and how to avoid big mistakes — Bill Ranczyk Us Weekly

In fact, Bill believes that financial health is “just as important” as human health physical healthgoing on to add that he believes the two are actually related.

“When you're under financial stress, it's stressful on your body, and if you look at the number one reason for divorce, it's money,” he said. We. “Money in many cases is very burdensome to people and causes them a lot of pain and suffering. So you have to be in good financial health to live a healthy life, a healthy marriage (or a healthy family).

The previous one Julianne and Bill star also gave us her top three tips starting a new business.

“One is to adopt a term called 'hands-on execution,' which basically means stop talking, start doing — actions speak louder than words,” Bill said. “Second, you have to be agile. You have to adapt, adapt, react, and if you're not agile, you die. And third, it's about risk. It's about understanding risk, taking risk, and turning risk into success.”

For more of Bill's words of financial wisdom, watch the video above.

With a report from Christina Garibaldi

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