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Salman Khan has two pieces of financial advice for young people. The first is to live beneath your means—this from a guy who grew up in a household where his mother re-used paper towels.

The second piece has to do with investing. When you are approached with a chance to invest, ask yourself "Why did this person come to me? What do I have to offer?" It's best to think about what you, as an individual, bring to the table that others do not bring to the table. Capitalize on that unique angle.