Ah, your 20s—the decade
where you're supposed to have fun, find yourself, and apparently figure out how
to become a financial genius. Easy, right? Well, not quite. But if you're
looking for some solid advice to set you on the right path, here are six money
rules that could seriously change your life. Trust me, your future self will
thank you.
1. Never Buy to Impress
We’ve all been there.
Your friend rolls up in the latest sneakers or that brand-new tech gadget, and
suddenly your perfectly fine stuff starts to feel a little... outdated.
Tempting as it is to keep up, the truth is, no one really cares what you're
wearing or driving as much as you think they do. Besides, trying to impress
others with stuff usually means impressing your bank account with debt. So,
focus on what you actually like, not what you think will wow everyone else.
2. Do Favors, Don’t Take Them
This one’s a bit of a
mind-shift, but hear me out. When you do favors for others, you build goodwill—and
that’s worth more than any loan someone might give you. But when you take too
many favors, especially when it comes to money, you can end up in someone’s
pocket, metaphorically speaking. You want to be independent, not feel like you
owe someone. Plus, helping people feels good, and good karma has a funny way of
circling back to you.
3. Saving Won’t Make You Rich
Yes, saving is important.
But let's be real—keeping a few bucks stashed under your mattress (or in your
savings account) isn't going to make you the next Warren Buffet. Instead, think
about how you can grow your money. Invest it, start a side hustle, or put it
into something that will eventually pay you back. Saving is great for security,
but wealth? That comes from multiplying what you have, not just holding onto
it.
4. Ask Often: Does This Bring Joy?
In your 20s, it’s easy to
spend on stuff that you think you need—or things you’ll use for a week before
it ends up gathering dust. Before making a purchase, ask yourself: “Does this
bring joy?” If the answer is no, put it back. Marie Kondo your finances! Not
only will this mindset save you money, but it'll also prevent your life from
being cluttered with useless things that don’t make you happy.
5. Being Wealthy > Looking Wealthy
There’s a difference
between being rich and looking rich. You can dress in designer clothes and
drive a luxury car, but that doesn’t mean your bank account is happy about it.
True wealth comes from financial freedom—not from having expensive things. In
fact, some of the wealthiest people I know dress like they haven’t been inside
a mall in years. Focus on growing wealth quietly; let your bank balance speak
louder than your wardrobe.
6. Spend to Earn, Then Spend to Own
This one’s a
game-changer. In your 20s, it’s tempting to blow your money on things like the
latest phone or that cool gadget you’ve been eyeing. But here’s a smarter
approach: spend money to earn money first. Whether it's investing in your
skills, starting a business, or even buying tools that will help you generate
income, think of it as “productive spending.” Once you’re making more, then you
can start spending to own the things you really want.
Wrapping It Up
Your 20s are a time to
experiment, make mistakes, and learn. But when it comes to money, the sooner
you get your head in the game, the easier the rest of your life will be.
Remember, it's not about getting rich quick—it's about laying a solid
foundation that will make your financial future much brighter.