What does 俗话说的好 mean? In the following sentence:


  俗话说的好，要不不留学要留学就要留出个性。。。。。。这是我编的。。
  我们来看看我们社会主义坚实伙伴的古巴。古巴是西班牙语国家，抽雪茄，晒太阳都是家常便饭。


What does it mean? 俗话 means "proverb" and 俗话说 means "as the saying goes", but I don't understand the 的好 part. 

I feel I understand the meaning, which actually doesn't change the meaning of the 俗话说 that much I think, but I would like to grasp it more grammatically. So how does the 的好 work grammatically in this sentence?
俗话说的好 vs 俗话说

俗话说: As the proverb express. 

俗话说的好 means what the proverb says is exactly right or exactly fitting the circumstance/setting in the following statement. 

From grammar point of view, the form should be 俗话说得好. The structure is verb + 得 + extent/result complement. 

Some pedants would argue 俗话说 的 好 is a wrong expression. It looks that it's a common mistake by misplace 得 with 的. Personally, I wouldn't care about it since it's been widely used after all.