20 Things I’d Tell My 20 Year Old Self About MoneySeptember 21, 2015
As I’m steadily approaching 30, it’s fun to look back at all of the financial knowledge I’ve gained over the past few years. If you threw out the words “compounding interest” and “capital gains tax” to me at age 20, my eyes would glaze over. If I could go back, here are 20 things I’d tell 20 year old me about money.
- Credit cards aren’t that scary, but debt is terrifying.
- I know you hate reading right now, but go read Your Money or Your Life.
- Those student loans are a much bigger deal than you think.
- The market is going to crash very soon. That’s ok.
- You don’t realize it, but you’re living paycheck to paycheck. Stop.
- Your girlfriend (now Mrs. Saver) knows what she’s talking about when it comes to money.
- You don’t have to wait until you’re 65 to retire.
- Ditch that spreadsheet. You Need a Budget.
- Those people your age buying new cars and gadgets are probably broke.
- Stop playing video games for 10 minutes and figure out how a 401K works.
- Yes, taxes are annoying and confusing. That doesn’t really change.
- You’ll be moving across the country one day. Here’s what you need to know.
- Index Fund. Look it up.
- Insurance is a bit confusing for you right now, but you need to get up to speed ASAP.
- You should probably start building up that emergency fund. Really. Those new tires aren’t going to pay for themselves.
- Speaking of tires, those frequent joyrides are destroying your crappy car.
- That electric drum set you have your eye on? Don’t do it!
- But don’t be afraid to make mistakes with your money.
- If you start saving money now, you’re going to make my life a lot easier 🙂
- Save your money, dammit!
What would you tell your 20 year old self about money?