Finance tips for twenty-something year-olds

Here are my finance tips for people in their twenties.

1) Make more money. The more you make the more you can save. Sounds arrogantly obvious and stupid, but its true.

2) auto-invest. Apps like Robinhood allow you buy to stocks automatically daily. Set a daily spend and forget about it. Example) VOO (vanguard ETF on total stock market). Start small as you need, slowly increase it.

3) Credit. Ask a family member to be an authorized user on their credit card. make sure they never are late. The older the account the better. Always always pay your bills.

4) Cars. Only buy a car if you can buy it cash. if you must finance it, go cheap. Buy a toyota.

5) Student debt. Only go to school if you 100% know exactly what you want to do, or are lucky enough to get a scholarship, or parents pay for it. Student debt is an absolute killer.

6) 50 30 20 rule. lets say you make 1,000 a month. Keep your monthly bills under 500, your spending money under 300, and save 200 a month. Structure your life style accordingly.

7) housing. life with your parents (long as they let you live) or live with multiple friends for lowest rent possible.

8) Credit cards. Get two right away. constantly try to increase the limit. always pay the balance every month. never miss a payment.

9) Salary expectations. Only pursue careers that have that salary ceiling you are seeking.

*side note, i watch youtube while i journal and surf the internet. While i was writing this i refreshed youtube. and the algorithm provided videos such as “5 regrets from my 20s”. bro i didnt even post this yet…. weird.


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