In this 21st century, saving and investment has been a major problem for the youth because most of the youth spends more than a salary earner which is becoming to accommodate by most parent in this our generation.
When most of the youth are being giving advise on saving and investing in their 20’s they display odd face, with psychology you will know they are not even interested and feel disturbed the same time.
These are six (6) concrete advice on saving and investing in your 20’s.
When you are just starting out, tartget on becoming an income machine and not investment guru
Try possible means to become a large income earner, save a lot of money, do not be quick on investing, because you need money to invest, that’s the main reason you have to focus on making a lot of money before going into investment so you can be able to make a strong investment.
Do not be preoccupy over finding your passion
Do not be preoccupy in finding your passion, learn a lot of skills it will help you finding your passion and knowledge wise then achieve your goal..
Learning different skills will give you a lot of options to choose your passion. This passion of a thing has put many people into total mess, most passion don’t pay much which most people do not understand yet. Any passion that does not make both ends meet will soon be ignored for heavily paid job.
When you start making Huge cash, resist the temptation to upgrade your lifestyle
In this 21th century, once a youth starts making serious money, the next thing that comes his/her mind is to buy most expensive gadgets, cars and many other things which has less priority and cannot bring him/her extra money.
Outside of your day job, become a voracious learner
That voracious alone could be a nice driver to success, be an inquisitive learner, someone who is eager to learn new things everyday and that keeps your positive vibe going. we also know that no knowledge is a waste.
Aim to reduce the ‘’big three’’ expenses of housing, transportation and food
This ‘’big three’’ could be a common character between the lads, there is 90% tendency that most lads when they start being buoyant enough, they tend to relocate to most expensive house, enter most expensive transport and eat food equivalent to their daily pay, it is very good, no one is actually against you living the kind of life you desire But as a young person who has not yet laid his future foundation, you don’t need those luxury lives now. Once you minimize this ‘’big three’’ you will see yourself moving higher than others.
Saving and investment rate is the one metric that decide whether you will be financially independent
The word saving and investing is one of the daily muse of a youth however the negative happens, saving and investing is what sets you free in your older age.
This young stage is the foundation stage which helps in building you to become independently buoyant if you adhere to advice on saving and investing in your 20’s.
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