Can you give me any financial advice that you wish you would have been told at a young age?

Answer 1

Invest in the stock market.

If you have a job with a retirement plan like 401k, put in the maximum amount of money allowable.

Don't build up a big debt living beyond your means. Use credit wisely to buy big ticket items like cars and houses, that you otherwise couldn't afford.

Invest in your own personal development, ideally through education. You want to maximize your marketability and earning potential.

Understand the difference between appreciable assets -- things that get more valuable over time -- and depreciable assets -- things that lose value.

Develop a reputation for delivering on your commitment and attract people who have money to invest in your ideas and ventures.

Stay out of trouble with the taxman!

Answer 2

Write out goals you have set for yourself and what you need to do to accomplish them. Work as much as you can while you can (before marriage) and save your money. Invest your money in a nice home. Don't waste your money on a fancy car (not yet anyway;)) You can still have plenty of fun, just do it thriftily. Put money into CD's at the bank and stick with the same bank. You'll build credit with your bank. Stay away from credit cards. Don't spend what you don't have, put yourself on a budget.

Answer 3

i'm good with the financial area. I discovered lots in college and utilitzed that guidance. What I wish somebody had instructed my mom and dad became to keep for his or her babies. My dad opened an account for my sister and that i as quickly as we've been 7 and eight years previous. He began it with $20 somewhat. That became all he did. He might supply us funds each and every now and then and let us know to place it in the financial organisation. properly, we've been teenagers and we did no longer have vehicles. the 1st element a great style of youngsters will do is spend it. i wanted that he had had the uncomplicated-experience to do it himself. as quickly as a had a social risk-free practices quantity for my daughter I opened a brokerage account and purchased some penny shares for her that are doing o.k. (bought them 10 years in the past). I opened a CD account for her 3 years in the past with a 5 12 months term and opened a decrease value costs account. She has a decrease value costs account. She does on line surveys and places 60percentof the money she earns from them in her decrease value costs, 10% in church, and spends something on what she needs. i'm doing all i understand for her. Any financial product i take advantage of i take advantage of the comparable for her. attempting to no longer make the comparable errors my mom and dad made with me.

Answer 4

I am 30 and have owned a business for 10 years now. Save ! Save! Save ! as much as you can because there will be plenty of rainy days.. But make sure you live as well.

Answer 5

Well, I'm young. I've been told that it is a really good idea to start saving for retirement once you get a job.

Answer 6

Live within your means. Work as much as you can while you are young and save the majority of your money.

Answer 7

Avoid credit cards. Pay as you go is the cheapest way. Put a little in a savings account every pay day. If you don't learn to save you'll be broke ALL your life.