Life would have been so much easier if schools paid more emphasis on imparting financial education! Don’t you agree? How come no one ever thought about it?! We mean, come to think of it, it does make sense.
Having a genuine and experienced person who you can rely on completely regarding your financial decisions, is literally a blessing. And who would be better for the role than teachers who lay the foundation of all our learning?
Regardless of whether you find that apt or not, what can’t be denied is that being a young adult and dealing with finances can not just be confusing, but also stressful at times.
That’s why, thankfully, it’s a sigh of relief watching Gen Z and millennials being more conversational and outspoken about money matters. As more and more young adults are going out in the world and initiating a life of their own, there are people from other generations who are coming forward and sharing the financial tips and tricks they wish they knew about in their 20s.
What are those lifesaving suggestions? Let’s have a look!
Tip #1 – Live for yourself, not for the world
Living in your 20s might not be as easy as it sounds. Every individual has a different background, bank statement, standard of living, and many other influential factors. In such situations, you’d be better off concentrating on what you have and not comparing yourself with the outer world.
Don’t try to impress or ”keep up” with your friends. Remember, just because they’re living in a big house and driving a nice car, doesn’t mean they’re making the most of their lives. Who knows, they might even be heavily burdened with debt.
Tip #2 – Money may not buy happiness, but it does bring opportunities
Imagine, you work in the financial sector but your heart lies in the baking industry. You feel like quitting that corporate job and starting a bakery in the suburbs, but unfortunately, your hands are tied. Well, if that sounds like your own situation, you aren’t alone pal!
There are so many people out there who don’t love their full-time job, yet, they can’t take a chance to quit because their lifestyle is more or less dependent on that income. But let’s not forget the bigger picture! After 10 years you’ll be in a sound place; meaning you can quit your corporate job in your late 30s and open your own bakery that has always been your dream…
Tip #3 – Go with the trend
Psst, if you’re into reading, don’t miss the book “I Will Teach You to Be Rich”. Okay, we get it! The title might sound a little scammy, but trust us, it has all the answers you’re most propably looking for. And if you’re a fan of listening and learning, podcasts are just the thing for you! In every episode, the writer himself talks to real people, and their insights and experiences are literally incredible to hear.
At last, all we want to say is – never lose hope. We know it’s not much of a practical tip but this mindset surely opens new and brighter doors for your financial future. Remember, a little goes a very long way; therefore, if you’re hopeful today and start saving a little, sooner or later it’ll lead to bigger and better savings.