Personal Finance

Tony Robbins says "Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver" – how to take control of your financial journey

Marc Guberti

Published: February 28, 2025 6:31 pm

Tony Robbins has helped many people master their personal finances. He’s also become a leader in the personal development industry, inspiring people to become better versions of themselves with actionable strategies.

You can underline any of his books and find valuable insights, but this quote offers a valuable lesson for anyone who wants to master their money. Tony Robbins said that money is only a tool. He shares how money can take you wherever you want to go, but you are still in the driver’s seat. Here’s why that advice is so useful for people who are planning their finances.

You Are in Control of How You Use Your Money

Every time you receive a paycheck, you get to decide where the cash goes. Some people wisely invest in stocks, ETFs, real estate, and other assets. They accumulate money in their high-yield savings account so they can receive interest while having cash for an emergency.

However, other people spend money today without much thought about the future. Giving into short-term pleasures often leads to long-term pain. Money does not guarantee that you are successful or end up with a big nest egg. The way you use your money determines what the “tool” provides in your life. 

You only get a big retirement portfolio if you regularly invest in assets. You have to stay disciplined and track your expenses. That way, you have a better chance of reaching your long-term financial goals.

Assessing Opportunity Cost

While you can spend money on yourself from time to time, there is an opportunity cost. The $500 you spend on a concert ticket can’t go into an index that tracks the S&P 500. Making those types of purchases too much can deplete your retirement savings or never give you the chance to build them.

However, there are people who are on the other side of that extreme. Some people never spend any money on themselves. They stash away $10 million and then look back at regret when thinking about all of the things they missed out on.

There’s More to Long-Term Wealth Than Cutting Costs

Each person has a different balance, and making more money will give you more flexibility and choices. The best way to get ahead financially is to increase your income. You can ask for a raise, invest in an asset that produces cash flow, pursue a side hustle, start a business, or do something else that boosts your income. 

Good financial discipline makes your income last and will put you in a better position when it’s time to retire. However, there are limits to how much expenses you can cut. Someone who earns $40k per year has fewer opportunities to reduce expenses and boost their annual portfolio contribution than someone who is making 6 figures.

It’s good to optimize every dollar that arrives, but sticking with that routine while increasing the amount of dollars that arrive is even better. Money is a tool, and having more of a tool lets you tap into more opportunities.