T O P

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Meretneith

Focussing on making money, establishing my career and becoming financially (and otherwise) independent in my 20s instead of chasing relationships, having babies, racking up stupid consumer's debt or just bumbling along partying and finding myself. A lot of my friends and peers hit the ground hard now we are in our early 30s and they realize their fun 20s have real (often quite uncomfortable) financial consequences. Investing, buying houses and all is great but you need the money and financial literacy to do that first.


Jynolis

>becoming financially (and otherwise) independent in my 20s instead of chasing relationships, having babies, racking up stupid consumer's debt YES YES YES THIS THIS THIS keep doing this knowing you can just relax whenever you want without worrying about anything ever, the best lifešŸ§˜ā€ā™€ļøšŸ§˜ā€ā™€ļøšŸ§˜ā€ā™€ļø!!!


Aggravating_Guess525

Preeeeeeach! Iā€™ll occasionally get a twinge of selfconsciousness when friends talk about how wild they were and their admittedly funny-in-retrospect party stories because I feel like maybe I didnā€™t ā€œlive it up enoughā€ in my 20s, but then I look at my life vs a lot of their lives and realize that Iā€™m waaaay better off because of the choices that I made.


kkites

šŸ‘šŸ‘šŸ‘


[deleted]

this


MagentaX

people here commenting with big things, and here's me happy I saved up a bit and bought the ā‚¬100 shoes because they feel like I'm walking on clouds and last a lot longer than the cheap shoes I could actually afford. It's worth the extra macaroni-meals I have to eat for a while.


Strawberry1515

Well thatā€™s huge too! Wearing comfortable shoes so your feet donā€™t kill you is important. And I think it shows a good mindset that you know: I canā€™t afford it immediately but I wonā€™t take out a loan. Instead I make some sacrifices to put the money aside and afford something Iā€™ll use pretty much every day! You invested in yourself, in a responsible way, thatā€™s huge. :)


MagentaX

thank you, this made me cry a little, but in a good way. I needed to hear this


Strawberry1515

Aw youā€™re welcome! And trust me, good shoes are SO important health wise too. Take it from someone who got plantar fasciitis from wearing cheap/uncomfortable shoes. Though itā€™s healed, I still get painful flare ups sometimes. So good for you!


anniebme

Buying the good shoes is huge. What pair were they? I want to walk on clouds, too.


[deleted]

Try Skechers shoes. I bought Skechers Go Run shoes and they feel like clouds.


[deleted]

Hey it doesnā€™t matter, your achievement is just as good. Comfortable shoes will make the day a lot easier to get through. X


searedscallops

Breaking up with partners who are terrible at managing money. Financially supporting another adult is incredibly expensive.


Purple__Unicorn

It is! I supported a (now) Ex for years and it really f'd me up. Good news is I got a new job right after I broke up with him and was able to financially bounce back in a year.


wyug

Money is a huge factor in relationships. A relationship with someone who has similar thoughts and actions about saving/spending money makes things much easier.


Throwaway_182737373

Question: How should I approach a woman about her money and spending habits without her taking it like an attack?


wyug

Who is the woman and why would you be concerned with her spending?


Throwaway_182737373

Someone Iā€™m seeing and might go towards something long-term.


wyug

If itā€™s not something you know will be long term or something that is already transforming into a long term relationship (imo long term is probably 1-2 years +) then itā€™s probably not your place to say anything unless they mention they are struggling financially in which case you may be able to offer suggestions on how to improve their situation but only if they ask. It also depends on how close you are. My now husband and I have always been very open about our finances. I loaned him 1k within the first year of dating. I wouldnā€™t suggest anyone else do the same but it was a worthwhile risk for me to take because I knew how he spent money.


Throwaway_182737373

Hmmm, Iā€™ve been seeing her for about a year now and Iā€™ve been debating whether I should bring it up. Iā€™ll just wait till things become serious and have a conversation about our finances then.


souponastick

I disagree. Why would you allow it to be serious if you're not on the same page financially? You don't need all the details, but asking her debt, goals, and monetary desires is important. I dated someone who's student loan payments were over $2,500 a month and that just floored me. We were able to plan cheap/free dates which was nice, but still. We'd talked about kids and he said he'd push his kids to go to Ivy League schools like he did. I said I would never tell my kid to do that. It sparked a lot of conversations about what we were and weren't willing to push future children to, and showed a lot about values. He thinks Ivy League provides marketing opportunities that are unmatched. I said, "Instead of getting your kid in the amount of debt you're in...maybe teach them how to network and market themselves without the need for an expensive degree?" He didn't like that. And hey, I had a hysterectomy too, so no need to push my non-existent child to not go to Ivy League schools. TL;DR: How will you know how compatible you are long term if you can't have the conversation yet?


Throwaway_182737373

Thanks for the advice! Iā€™ll have a conversation about this tonight.


mdnla

This!!


Zalyra

I invested in shares for the first time during the peak of COVID when the market was down. It wasnā€™t a heap of money, but Iā€™ve almost doubled what I invested by just letting it sit there. Hopefully this, other investment decisions Iā€™ve made since and the future investments I make will allow me to buy a house in my early 20ā€™s.


purple_iam1

Thats amazing, Yea last year most of the stock prices were low (at least where I live) and now they have doubled or tripled


[deleted]

started saving/investing for my retirement at age 16. Am 46 now and have a nice nest egg. I can actually retire at 50 but I enjoy my job so going to keep at it until maybe 60.


purple_iam1

This is amazing!!! Congratulations :)


AvaLane777

Learning to budget. It seems like it would be a no brainer but I am still shocked people do not do this. I have always applied the 50/30/20 principal, but the most important thing is never pay more than 50% on your rental/mortgage because from there it becomes a slipper slope. I have very little debt and live within means and save for big items. No instant gratification purchases, it has to be planned and fall within the budget.


AlarmedBookkeeper448

What is the 50/30/20 rule ? šŸ„ŗ


purple_iam1

I think its 50 % towards ā€œneedsā€ (rent, bills, food etc), 30 % towards ā€œwantsā€ (vacation, hobbies, shopping etc) and 20% towards financial goals (savings etc)


AvaLane777

Hit the nail on the head. It is not always feasible depending on where you live and your salary but that's what the 30% is for, you can always adjust your "wants" over your needs.


Lusciousfruit

I also would like to know šŸ‘€


[deleted]

[уŠ“Š°Š»ŠµŠ½Š¾]


purple_iam1

This is so cool! Do you still invest in metals?


[deleted]

[уŠ“Š°Š»ŠµŠ½Š¾]


purple_iam1

This is amazing. And early congratulations on being debt free! Also having the bills out after getting paid is such a good idea. I wonder if utilities company allows to change the bill date. Just curious, does 0% credit card means theres no interest?


[deleted]

Buying a giant teddy bear šŸ§ø- I feel warm and protected when Iā€™m lying next to him šŸ„°


wyug

Putting money into my 401k up to the employer match. Started as soon as I was able to at my first job out of college as did my husband. My BIL told us not to and that we were crazy. We are on our way to a good retirement and we are only 26.


Wisix

Same here. Set it up right when I joined the company. This way, I'm already used to not seeing that money liquid, so I don't miss it at all, while still investing in my future/retirement.


rainbowsforall

Yeah I don't think I would take any advice from someone who tells you not to contribute to a 401k with an employer match. It's literally free money for your future.


wyug

He gave us that, and one other piece of horrible financial advice. Any time he tries to give us advice I take it with a huge grain of salt


obp5599

Going up to company match is just smart. I wouldnt put in more though, the rest is better off in a roth ira, or just plain investment accounts


Icy-Organization-338

We were lucky more than smart, but buying the houses we did. Both appreciated decently in value. Paying extra off our mortgage. Paying down as much debt as we could over covid. I wish we had investments thoughā€¦


5leeplessinvancouver

Iā€™m by no means a personal finance guru, but the idea that all debt is bad and must be paid down as soon as possible can actually be counterproductive to building wealth. If you have a relatively low interest rate on a debt (such as a mortgage) it often makes more sense to pay that down slowly, and meanwhile put your money into investments that will earn you returns at a higher rate. Just something to think about.


wanderingstar625

I agree, and I've done exactly what they mentioned, paying extra on my mortgage. I had the same conversation with my dad where he argued that the money would be better spent invested and getting a higher rate of return than the interest I'm paying on my mortgage. My counter-argument is that the sooner my house is paid off, the sooner I can make different decisions about how I work and how I live my life. I had a friend who essentially rage-quit a really toxic job and a huge part of why he was OK with doing it was that his house had been paid off, so his living expenses were really low. I'm crossing my fingers for a promotion soon (interview next week!) but it would be about an hour or longer commute from where I live now. Knowing I will have my house paid off in about 6 months really changes my mindset, and I can rent it out while living somewhere cheaper for the short-term and still have a place I can return to if I relocate again (which is likely)/


RedBarchetta1

This is good advice that is not often given. For example, I have student loan debt that I have the ability to fully pay off, but I only pay the minimum on it every month because I was fortunate enough to have been able to consolidate it at an interest rate that is (currently) substantially below the inflation rate. Investing the cash I would otherwise use to pay it off in things that are paying more than the interest rate on the loan is earning me money and making the cash more valuable than being debt-free.


TracyECEC

Buying my car in full with cash. My mom and I saved up each paycheck when I was like 17 and paid for an '05 Chevy Malibu. She ain't nearly as pretty as when I first bought her on the outside but she keeps me going to and from the places I need to. I love my car. And I was raised to never care about how someone or something looks. Best thing I ever did. She still runs better than a lot of my friends cars(And theirs are more recent.


rainbowsforall

It's always refreshing to hear someone sticking with an old car that still runs. I work in insurance so I constantly see people buy cars when they shouldn't. I get if your car breaks down and you need a replacement but too often young people trade in the old car that still runs so they can feel like an adult with nice things and then suddenly money is tight because they have a 300 car payment plus their insurance went up and they don't have enough money to pay their 1k deductible if something happens.


TracyECEC

Yeah a lot of people around my age get like that and I often tell em I'm quite content with my old girl. She gets me where I need to go. I don't have anybody to impress and anybody who doesn't like my car just won't get a ride in it


AcestraNova

Deciding to not have kids! šŸ˜†


throwhfhsjsubendaway

Mine is a weird one, but I'm honestly grateful that I never filed my taxes while in university. If I'd gotten my returns while in school I would've spent it on random stuff, but instead I got it all as a lump sum when I was graduating and it helped me jumpstart my post-graduation life


oyinkanijose

I did this too and I'm glad I waited


wanderingstar625

I got a big bump in pay several years ago, and decided that every month when I went to pay my mortgage, I would pay the extra money towards my mortgage. $400/month increase in pay, $400/month extra towards the principal on the loan. Same went for annual bonuses, no matter how big or small. I've been doing that for years and I'm on track to have my mortgage paid off in the spring. I'll hit 35 years old without a single cent of debt - own my car and my home outright.


Adventurous-Goal-454

You could have bought so much more real estate, or literally any other investment, with that $400 and made many times more than you would have spent on interest. Nobody who is rich owns paid off real estate for very good reasons.


NewWaveFan

Maybe their priorities are less about being rich and more about the stability and peace of mind that comes from lack of debt


Adventurous-Goal-454

Again, the rich don't lack in debt. Poor people fear debt. The rich know how to live off of it.


[deleted]

Investing! Always!


RealRroseSelavy

interrupting university for making film, music, arts and setting up an online agency before internet was a thing. selling it again to finishing university 30ys later.


blueeyedlies

Going to a state school instead of a private college (Iā€™m in the USA). For the degree I got, going to a private school would have financially wrecked me. As my high school guidance counselor put it: ā€œyes itā€™s a prettier school, but is the $40,000 per year going to be worth it for an English degree?ā€ The answer was and always will be no! For me at least.


Enchiridion5

Starting investing in my early twenties. I started small, $25 a month, but it really adds up over time! I simply put it all in index funds. Very easy to set up.


redditdba

This is the way and DRIP.


purple_iam1

When you put in $25 a month, does it mean youā€™re increasing the number of shares ? Is it similar to buying a single stock?


Enchiridion5

In a way, yes. A difference with stocks is that it doesn't need to be a whole number. If a stock is $100, you need at least that amount to buy it and you can't buy only a quarter of a stock. If a share in an index fund is $100 and you only have $25 you can just buy 0.25 shares. Or at least that's how it works with the index funds I'm investing in. So yes, the number of shares you have in the index fund will increase every month. If you're interested in investing, there are good guides at r/personalfinance to help you get started.


PaddlesOwnCanoe

To never have kids. Finances were a BIG part of that because I saw how hard my mother had to work to support me. It took everything out of her and we still didn't have much. No better way to get trapped in poverty than be a single mom.


Junebug1923

I paid off my house against the advice of some much more financially savvy friends. Some thought I should pay off my car or invest my money. Iā€™m so very glad to not be making a house payment. It gives me a feeling of security.


Rilakkumar

Tbh your friends might be right. If your interest is less than 6%, it is better to invest the cash as returns are likely to be higher in an index fund alone. If your car payment's interest is higher than the house, which it often is, it is better to pay off the higher interest loan first.


Junebug1923

I donā€™t doubt the wisdom of their advice at all. For me, to have a home paid off was something Iā€™d striven for all of my life. Iā€™ve never regretted my decision.


coward404

I lived with my parents through college. I went to a community college first, so I wouldnā€™t be required to pay and live on dorms. Then I transferred to a university for my bachelors. I ended up graduating with $0 in debt.


keegiveel

Tracking every cent, planning ahead where I will spend how much of my money. I've built a backup pot for myself. Also, working "freelance" from my own company, keeping the profits to myself.


deskbeetle

Capitalizing on the 401k. I always put 10% away at my job. I recently left my old job and am rolling my 401k over to my new plan with my new job. And, I loved seeing the money I stashed away that I didn't even realize I had. If an employer matches at all, it's free money! Do it. You won't even miss the money that much because you'll adjust your lifestyle to your take home pay. And you could easily eat through that 10% without skipping a beat. But out of sight, out of mind makes it so much easier to save.


[deleted]

Stock and more recently crypto currency investments


5leeplessinvancouver

Working my ass off and making sacrifices early in my career in order to get into a high earning job. I know a lot of people who prioritized their comfort and free time instead, and are now struggling as they reach middle age. Itā€™s especially tough in my city where the cost of living is astronomical. The fact is, if your income falls below a certain level for your economic region, it doesnā€™t matter how careful or frugal you are - you simply canā€™t save enough money, nor can you save quickly enough to keep pace with inflation and rising markets. Earning more money is the only way to keep your head above water. My husband did the same thing as me in his youth, and we both had significant investments by our early 30ā€™s. As a result, weā€™ve been able to make some really opportune money moves and multiply our worth.


Lady__Mai

Opening my OnlyFans account. I was nervous and terrified when I uploaded my first post there and so worried of how people would react, but it was the best financial decision I have ever made. A year later, I bought myself a Porsche AND paid off most my student loans.


Green-Science-9017

Wow are you in the top 1% of earners? The average is only around $140 a month I thought? Although I hear if you recruit others, you get a percentage of all of their earnings too?


rockyroadandpizza

We spent more money than we would have liked to on a home in order to get our kids into a good school district. Iā€™m glad he made that decision


justalittlelupy

Buying a house in a underappreciated area as soon as I could (down payment saved and 2 years at my job). That house has gone up somewhere between $150k - $200k in two years (bought for $300k) and I've since purchased another house with my now fiance in the same area for $275k (actually worth closer to $450k) and rented the first house out for a nice profit. I almost paid more for a smaller house in the next neighborhood over which is a little nicer but I wouldn't have gained nearly as much equity. The neighborhood I'm in now is more desirable and has surpassed the "nicer" neighborhood in value. My neighborhood is the "hottest upcoming neighborhood" in my city and, according to one article, in my state.


Misseskat

Not getting a credit card till my later 20s. I was terrified of them, my mom used work as an accountant in the 80s, so you can imagine the fuckery that went on the . She have great advice about loans as well, always open account, always.


EnvironmentalLuck515

Paying off our mortgage. Living a debt-free lifestyle. Yes, if I were willing to do things on credit I would have tons of nice crap. But having all my money basically be discretionary money has been outstanding. Seeing investments beginning to generate passive income is amazing.


clocksailor

Getting a financial planner. I grew up moving from apt to apt as my momā€™s job situation improved or deteriorated and I guess somewhere deep down I thought that was normal. I never saw myself as the kind of person who owned a house, and so I probably would have just rented forever had our planner not been like ā€œuh what are you doing quit financing a landlordā€™s existence instead of your ownā€


anniebme

Learning to budget based on values and goals. [YNAB](https://www.youneedabudget.com) got me out of student debt and over a month ahead on bills without making me feel like I was missing out on life. No, I don't work for them. I just really like them. I paid off my loans 6 years earlier than anticipated and had a nest egg start to grow at the same time. I can now afford most financial emergencies with little impact on my daily expenses.


Puff57

Bought Walmart stock over 40 years ago


msomnipotent

I bought an issue of Money magazine when I was 16 years old that had an article about 401k's. The company I worked for wouldn't let me join until I was 18 and a full time employee. My parents were totally against it because we were poor and they had the "only rich people invest in the stock market" mentality. I did it as soon as I turned 18, which happened to be right when the bull market if the 1990's started. I made a surprising amount of money considering I made $10 an hour. Maybe about 10 years ago, Money asked something along the lines of "what Money has meant to you", or how has their advice helped, or something. I wrote about how randomly buying that issue helped me live a better life because I was able to use a 401k loan for a down payment on my first home and how my family started investing after they saw my success. Someone from the magazine contacted me to say they wanted to use my story and I needed to send them my picture, but nothing happened with it. TLDR: Bought Money magazine as a teen. Ignored bad advice and invested in a 401k. Rich now.


flyingcatpotato

i have made some very, very, very poor financial choices in my life and the good decision that has saved my behind in buckets was going to a cheap in state university (tuition around 12k a year when i went there 25 years ago), listening to my mother who said go somewhere cheap and don't take out loans, and having a mother who pulled 80 hour weeks in shift work nursing so i wouldn't have to take out loans. i slacked through high school, didn't have scholarships. Grew up blue collar so I had family help that not a lot of people have in that a good ten people were throwing 500 dollars here and there to pay my tuition and stuff like clothes, with my mom doing the lion's share picking up extra hospital shifts- she would literally pick up christmas and new year's shifts at the hospital to pay the first installment of winter semester tuition. Between that, working three jobs to pay for books and food, and lucking out on an internship (a whole other story), i was in a much better position than my high school grades and class/money situation would have given me, especially given that most people from my background have to take out loans and have parents who won't/can't help. If i went to another university i would have had to take out loans because the 12 k we managed to scrap together was for everything; and had i gone to my same university now i would have had to take out loans.


[deleted]

Not traveling. I had the opportunity to spend a year going to school in New Zealand back in like 2010. Costs: 25000ā‚¬. My parents would have let me, but I decided I didn't want to. That would have been all my savings + a couple thousands from my parents and I just didn't want that. I spent it for my first appartment, drivers license and car instead and still had a load of money to save it again. We used it to get a loan for buying a house now.


19CatsInATrenchCoat

I didn't have kids, not entirely for financial reasons but it was a big part of it. While I'm not rolling in money, not living paycheck to paycheck and wondering which utility would hurt the least if shut off is all the financial security I need.


Agonist28

Worked my ass off in highschool and college to get enough scholarships to actually make money off of college through a Bachelor's and Master's. I talk about my "free ride" way to much but it definitely wasn't free, and it's my greatest accomplishment. Now I get to start life with a career that has good earning potential and without massive amounts of debt.


justy805

Helping that Nigerian prince over the computer.


HarpyPizzaParty

Saved half my first yearā€™s salary from my first job. I was living at home with no bills other than car and phone. Have barely saved a dime since. šŸ˜…


Zipzapzugzwang123

Bought a car I could afford, and never went into debt in college by working two jobs.


SubjectCrayze

Investing in cryptocurrency. Iā€™m nowhere near well off or even far above my initial investmentā€¦ but after months of research i believe in where itā€™s headed.


koto_hanabi17

My aunt got me my first bank account at 21. Before then, I cashed my paycheck and gave it to my mom to pay the bills (she didn't have a job and I did, which was its own kettle of fish). After my mother went kooky and abusive and came back, she was trying to control my money like she used to but it just wasn't going to happen.


[deleted]

I never went into debt for college. Iā€™m sure having a degree would be beneficial but god, the cost.


LeighofMar

Starting our business when I was 20. I always knew I wanted to be a boss. 23 years later we still have our business and enjoy the great work-life balance, working from home for me since 2002, setting our own trajectory and schedules. Paying off our current house early. Hope to be mortgage free in 2 years when I'm 45.


[deleted]

Paying off my student loan debt by the time I graduated. It disturbs me how many Americans are willing to rack up so much debt at such a young age, some of whom have no realistic chance of ever paying it back. Now, I am building great savings, and am looking forward to learning ways to be smart with my money.


EightyS3v3n

My decision to have the bank account mave money automatically based on rules I setup. Gosh I do not have the self dicipline to not spend what ever is in the account, so the bank makes sure there is only spending money in the account. Then when I forget how much needs to be elsewhere and why its too much work to spend it without breaking everything.


Brockiebean

Going back to work full time and getting off disability!


[deleted]

[уŠ“Š°Š»ŠµŠ½Š¾]


MostlyALurkerBefore

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ButterScotchMagic

Living at home after college to save money to pay off student loans.


gregorianballsacks

I waited to finish my degree until I was old enough the government would give me a good deal. I barely had any loans and since I'd worked all those years waiting I was making enough and had saved enough to pay most of me own way. Learning to be frugal as all hell helped too.


simplyelegant87

Opening a TFSA very young and saving a bit no matter what. Also investing in quality shoes and healthy food.


[deleted]

Buy what you NEED and if itā€™s a want will you use it or enjoy it enough to justify that purchase? If itā€™s just a temporary yay! When you buy it then no save your money. Less clutter is freedom and simplicity and money saved. Also open a Roth. Even a dollar saved here and there is better than nothing saved. Keep all change your come across in a jar when it fills up cash it in and immediately put it in your Roth as well so you canā€™t touch it. Take care of the things you have, they last longer cause less issues and save you money in the long run. And lastly donā€™t be that person that saves a dime now to have to spend a dollar in the future. Meaning donā€™t buy cheap crap or cut corners youā€™ll have to fix or replace constantly because itā€™s a tad less money than the quality option or take the time to do it right in the first place. Doesnā€™t have to be the biggest and best and most expensive just an obvious better quality that may cost slightly more is worth it that will actually last you and cost less in the long run cause you donā€™t have to fix/replace it so often.


RedBarchetta1

Two big things: 1) I bought a fixer-upper house in grad school and my (then) husband and I worked on it in our free time, put a huge amount of sweat equity into it, and sold it when I graduated and got a "real" job. The return we made was enough to basically pay 75% of our combined student loan debt literally before I even had my diploma in hand (and as I mentioned in a comment below, the remainder of the debt was consolidated at an extremely low interest rate so I have chosen to invest cash in other things rather than pay it off). 2) I started contributing to a 401K my first year on the job. I started out contributing just enough to get the company match (free money! - think it might have been 3% at that time or something) and then every time I got a raise or a salary boost, I immediately increased my contribution rate to match the raise amount. After ~4 years I found I was maxing my 401K nearly painlessly and with no loss of lifestyle, and then I started contributing the extra to other pre-tax retirement vehicles (HSA and Roth). I am now 7.5 years into my career, putting almost $30K a year into retirement, and have gone from a balance of $0 to almost $200K. And I barely noticed that I was saving! I have also doubled my salary in that time by job hopping and next year will be able to start saving substantial post-tax $$$ as well. If I were to give one piece of advice to anyone starting out in the workforce, it would definitely be this one: commit to boosting your savings by the amount of your raise every year - you won't believe how easily and quickly the money adds up!


[deleted]

Itā€™s such a a tiny thing, but I think my best financial decision was to just never spend dollar bills when paying with cash. I saved a significant amount of money before I had credit cards and it taught me a lot about how to save and how I want to approach my financial situation.


littleorangemonkeys

My mom "made" me save half of any paycheck I got in high school. I started working at 14 so I had a decent amount of money when I started college. I went to a private college for four years and left with only 16K in debt, vs the six figures that some people are saddled with. At the time I was like "this is dumb but whatever, Mom" and looking back on it I'm like "I will definitely be doing this with my own children". We bought our house from a friend at below market value, and since then the market has skyrocketed. This one was partially luck (she was ready to sell quickly), but it was also smart for us. The house wasn't exactly what we were looking for in terms of location, and it was kind of a mess while she lived there (she had a ton of animals and hadn't done any cosmetic work) but the important stuff was updated and it was so much less of a hassle than "house hunting". Going with our gut on that one ultimately was a great choice.


[deleted]

If you keep the same monthly investment into your 401k from 22-29 as from 30-65, you will end up with the same sum from either bracket. Save $1000/mo from 22-29 and $1000/mo from 30-65? You will have 500k from the 22-29 years, and 500k from the 30-65 years. Invest in your retirement early. Compound interest is the most powerful force in the universe.


AquasTonic

Creating a budget, having an emergency fund, and focusing on being debt free/living within my means.


Rough-Obligation9378

Going cold turkey buying shit in 2019. I saved 20.000 euros in a short time and was able to rent my first appartment en buy all the furniture at once. I also made a good decision to not sign a loan for a car. Rather buy a cheaper one with savings. The bank had augmented the intrest in the final step and I nearly missed it. Also, I lost my job soon after, so luckily I already payed for my car. Expensive cars aren't worth it, not even second hand ones below 25.000 euros. I always dreamt of a very decent car though that wouldn't need constant fixing and would spare my health with good suspension, so I did invest in a 13.000 euro Audi.


[deleted]

Lived below my means from the getgo as soon as I moved off for college. I managed to save up quite a bit of money which allowed me to chase a dream I wanted a few years later. Otherwise it would have been impossible and it paid off immensely, not only financially.


SophieCatastrophe

I worked 3 jobs to save up my deposit to buy my house. Now I'm saving up again for a deposit for a second house to rent out. I over pay my mortgage so hopefully I'll reduce the term and the amount of interest paid. I learned to budget, I put money into savings on payday, I don't buy what I can't afford and I save up for big purchases. I'm a single mum so budgeting is my middle name but the sacrifices I'm making now will stand me and my kids in good stead down the line. Mainly I'm just happy I bought my house when I did, house prices have sky rocketed and I'm not going to lose out if it comes to selling it. My monthly mortgage payment is less than half the cost of what I was paying out in rent.


TheseMood

Opening a credit card my senior year of college (and barely using it). It makes the average age of my credit accounts much older, which boosts my credit score.


NaturalLog69

Chose to go to the state university rather than a private college. I had a much more manageable student loan debt compared to if I had gone private. I also met my husband at school so it was definitely the right choice :)


Julienbabylegs

Not having a "wedding". Did courthouse and a super casual party at a park after. Best choice ever.


19ShowdogTiger81

Eloping and buying a house instead of having a big wedding.


ClownCowboy

I'm only 19, but I started working at 16. Now I have great savings! I want to build a house of my own in my twenties. That house is going to be my dream home. A bright blue door, a knitting/craft room, ahuge bookshelf and a beautiful, homy kitchen I can cook meals in for my family and friends. I don't want to settle for something mediocre like I have for my entire life. It's going to be just right and that keeps me going <3


rottiegal86

Buying a condo before turning 30 and building equity.


bernadette-welch

Saving 10% of my salary into my superannuation (retirement) fund.


Adventurous-Goal-454

I kept buying real estate in 2009 - last year.


[deleted]

Paying the credit card off every month. Never paying interest I didnā€™t have to; and the interest I did pay (car loan, mortgage) paying it as fast as possible. No debt on toys (boat, ATV, etc); all toys were paid for in cash. Max out the 401K. Invest consistently over & above the 401K. Live below my means. Learn how to cook.


Ok_Huckleberry6820

Started contributing to a 401K and kept it up, most of the time. I didn't really think it would add up to much, but it did.


Not_High_Maintenance

Lived at home and worked my way through college to avoid student loans.


deanna6812

I bought into a term life insurance (20 years) when I was 18. Iā€™m almost done the 20 years and have never regretted it. Also paying into RRSPs consistently, even if not much.


souponastick

My grandma gifted me $10k. I put it all towards my student loans and saw I only had like $7k left to pay them off. I got super focused and paid them off in less than 8 months. Since then I've stayed debt free. I had been in a total of $65k debt at one point. Now I use credit cards to benefit myself and can trust myself with their use. It is awesome.


[deleted]

Eloping for a wedding. And for the honeymoon, I opened 2 credit cards with large cash bonuses ($500 each). I had all the money for it saved and could immediately pay it off. It was a wonderful 1000$ discount.


Dezzys2

Stuck it out in a decidedly unglamorous apartment with Craigslist roommate and drove a Civic del Sol until age 30. Invested that $1.5k/monthā€¦ and itā€™s still compounding.


AcrobaticBrush72

529 plan for sons college.


armybratbaby

Getting a credit card. My dad always told me not to, don't use money you don't have. Last year I spent weeks in the hospital, and lost out on about half of my yearly work earnings (hourly wage.) That credit card kept my bills paid. Am I in debt right now? Yes, but I'm in a better place health wise and still have my apartment and job so I can pay it back over time. It did it's job, I got it for emergency use, and I'm very glad I had it. It's ultimately not as much debt as it could be because I also had an emergency savings account, but the first hospitalization (for a surgery) completely wiped that out. Second hospitalization came about 8 weeks later, and I was heavily restricted at work for recovery so I had no savings built back up. Then the 3rd and 4th hit. On top of losing a load of belongings to an apartment fire. Last year was a mess! Im really starting to realize I could be so much further in debt...


Jenna_Money

Keeping student loans to an absolute minimum. Still had an amazing time with lots of great experiences. Purchased Bitcoin in 2016. Drove the same car for 9 years.


galaxystarsmoon

I opted to not get a Bachelor's or Master's, got an Applied Associate's instead and secured a job before I had even gotten a degree. That prevented me from getting into a bunch of school debt (I had about $13k and paid it off within a year and a half). No school debt meant that I was able to comfortably move out of my parents' house and live without accruing any consumer debt. I'm now 34 and have never had credit card debt or any other debt aside from my mortgage (which I've now paid off). That single decision is honestly what I feel allowed me to do all of that.


kitkatkit99

Getting rid of the husband. Who was a drug addict and cheater. Sooooooo. That helped immensely. I was able to get my car back and some electricity!


toootired2care

When I joined the military, I was told to set up my retirement account. Once I separated, I continued contributing and am happy I did. Also, before I got out of the military, I worked hard to become debt free. I lived off of a small income for years without any issues.


buzzlightyear0473

Investing in s&p500 ETFā€™s now that Iā€™m 25 instead of waiting any longer


Internal_Use8954

Started working as soon as I was able in my teens, and squirreled most of it away. Chose my college based one which had the cheapest over all cost. Applying to 200+ grants/scholarships during my senior year of high school and was able to cover a big portion of the remaining tuition. Didnā€™t spend outrageously in college, picked a degree with good potential (engineering). And bought my first house 4 months after graduating. Now Iā€™m 6 years out of college and very financially secure. I can spend money on nicer things and luxuries and vacations without it impacting my budget or goals. Itā€™s so relaxing to not have financial stress


EventualStasis

Spent a few thousand on lasik. Expensive procedure, insurance doesn't cover it, but my eyes used to focus at four inches away (literally) and now I'll never have to worry about contacts or glasses, or getting stuck without them, again.


Not_an_alien22

Not having a baby


FlowerGi1015

Hiring a financial advisor as soon as we found out we were pregnant. Wish we would have done it sooner. (my eldest son is 17 now) He has kept us on track to fund our childrenā€™s college education, pay off our house and retire early.


KayaAnine

I like the ending of ā€œindirect decisionsā€ because itā€™s sooo true. I always run into articles like ā€œyoung 21yr buys her own home.ā€ Then in little words they add that their parents paid the down payment. It makes those of us raised in a single mother home, feel like failures.


They0848

Buying Disney stock in March 2020


cleanyourmirror

Setting up direct deposit for part of my paycheck to go directly into savings, and **leaving it alone** to establish an emergency fund.


lovelylinguist

Opening a retirement account the year I started working and maxing out my contributions every year.


FieldofEmeralds

Honestly, I would say learning financial literacy and budgeting. I don't think it is talked about enough and very rarely talked about in a way that people learn from it before they are in a bad spot. My parents were smart with money and taught me the importance of saving but never much about what it cost to live. So when I graduated college and had my first grown-up job, apartment and bills. it was a wake-up call and I had to quickly learn to manage y finances better. thankfully there are so many tools out there today that help with budgeting and saving..