Life experience is the knowledge that people gain by having lived life a certain way (their way). Knowledge on finance, discipline, parenting, careers, life etc. A lot of times we discard them as old-fashioned or bad advice. What I have learnt is that there is a lot of wisdom in those advices. This is not an advice for anyone to take everything the people with life experience tell, but to pay attention and give thought to those and not to discard it.