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Financial Tips You Would Give Your Younger Self

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Financial Tips You Would Give Your Younger Self

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Join our #CreditChat every Wednesday at 3 p.m. ET on Twitter and YouTube. This week, the community shared top personal finance tips they wish they could share with their younger selves. We were also joined by several influencers in the personal finance community on Twitter. Our panel included: Brad Sherman- Investment Advisory Rep, Wealth Manager – LFS Corp and President of Sherman Wealth Management, Lauren Young- Money editor at Reuters and host of Money Clip, and Debbi King- Owner of the ABC’s of Personal Finance. This deck features tips from: @LaurenYoung, @shermanwealth, @mymoneycoach_ca, @SuperMoney, @SFCUNews, @dougboneparth, @Rod_Griffin, @LeslieHTayneEsq, @Kasasa, @MiriamSCross, @emergebenefit, @MzShirleyD, @ttaylor2u2, @CinchFinancial and @Kiplinger

Join our #CreditChat every Wednesday at 3 p.m. ET on Twitter and YouTube. This week, the community shared top personal finance tips they wish they could share with their younger selves. We were also joined by several influencers in the personal finance community on Twitter. Our panel included: Brad Sherman- Investment Advisory Rep, Wealth Manager – LFS Corp and President of Sherman Wealth Management, Lauren Young- Money editor at Reuters and host of Money Clip, and Debbi King- Owner of the ABC’s of Personal Finance. This deck features tips from: @LaurenYoung, @shermanwealth, @mymoneycoach_ca, @SuperMoney, @SFCUNews, @dougboneparth, @Rod_Griffin, @LeslieHTayneEsq, @Kasasa, @MiriamSCross, @emergebenefit, @MzShirleyD, @ttaylor2u2, @CinchFinancial and @Kiplinger

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Financial Tips You Would Give Your Younger Self

  1. #CreditChat Wednesdays | 3 p.m. ET Financial Tips You Would Give Your Younger Self
  2. Join our #CreditChat every Wednesday at 3 p.m. ET. This week, the community shared some personal finance tips they wish they could go back and give their younger selves. ex.pn/hindsight
  3. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about saving money?
  4. Save early and often! You won’t notice if you automatically have money sucked out of your accounts. Wednesdays | 3 p.m. ET #CreditChat ” Lauren Young @LaurenYoung “
  5. Live below your means- just because you can afford it doesn’t mean you should buy it. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @shermanwealth
  6. Start automating your paychecks so a portion goes to a savings account. If you can’t see the money, you can’t spend it. “ Wednesdays | 3 p.m. ET #CreditChat ” MyMoneyCoach.ca @mymoneycoach_ca
  7. Save 10% of each paycheck. The sooner you start getting into a routine with saving, the better! “ Wednesdays | 3 p.m. ET #CreditChat ” SuperMoney @supermoney
  8. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about debt?
  9. Debt can help you do some good things like go to school or buy a car, but don’t bite off more than you can chew. “ Wednesdays | 3 p.m. ET #CreditChat ” Southeast Financial @SFCUNews
  10. I would make sure my younger self knew how debt works and tie that in with lessons in cash flow. Know what you owe and when. “ Wednesdays | 3 p.m. ET #CreditChat ” Douglas A. Boneparth @dougboneparth
  11. Know the difference between credit and debt. Learn to use credit as a financial tool. “ Wednesdays | 3 p.m. ET #CreditChat ” Rod Griffin @Rod_Griffin
  12. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about budgeting?
  13. Budgeting isn’t meant to be restraining. It’s meant to keep you free; it’ll keep you from falling into debt. “ Wednesdays | 3 p.m. ET #CreditChat ” Leslie H. Tayne, Esq @LeslieHTayneEsq
  14. Learning to budget is the backbone to your financial success. Spend the time to get organized. “ Wednesdays | 3 p.m. ET #CreditChat ” Kasasa @Kasasa
  15. Make a list of what you want to spend for a year, but put it in two columns: Wants and Needs. They’re different. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  16. Every good budget starts with tracking your spending so you budget your expenses more accurately. “ Wednesdays | 3 p.m. ET #CreditChat ” MyMoneyCoach.ca @mymoneycoach_ca
  17. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about credit and credit scores?
  18. Make sure you’re keeping track of what is being reported on you. Check your scores at least 1/yr. “ Wednesdays | 3 p.m. ET #CreditChat ” Kasasa @Kasasa
  19. If you can’t afford to pay the whole credit card bill, pay the minimum, then adjust your next month’s budget to catch up. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  20. Get a credit card early! Make small purchases and pay off promptly = strong credit history later on. “ Wednesdays | 3 p.m. ET #CreditChat ” Miriam Cross @MiriamSCross
  21. Start establishing credit history as soon as you can. Pay off your debts in a timely manner! “ Wednesdays | 3 p.m. ET Emerge @emergebenefit #CreditChat ”
  22. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about student loans?
  23. Aim for a college that makes the most sense for your career path, NOT for the name-brand recognition. Wednesdays | 3 p.m. ET #CreditChat ” Lauren Young @LaurenYoung “
  24. Unless you have to, don’t pay for more than tuition/books with student loans. Get a job to pay for living expenses. “ Wednesdays | 3 p.m. ET #CreditChat ” Southeast Financial @SFCUNews
  25. Only get what you need and pay interest when you can. (Even if it’s not technically due yet.) “ Wednesdays | 3 p.m. ET #CreditChat ” Shirley DuBose @MzShirleyD
  26. Know your student loan rate, terms and deferment options. Make sure you understand them before you take the loan. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  27. If you’re thinking about asking someone to cosign on your loan be aware that if you default, your cosigner will be responsible. “ Wednesdays | 3 p.m. ET #CreditChat ” MyMoneyCoach.ca @mymoneycoach_ca
  28. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about investing?
  29. Do the math: the earlier you start saving and investing, the more interest you’re getting on your interest. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  30. Invest in yourself at a young age. Always take advantage of your company’s 401(k) plan. “ Wednesdays | 3 p.m. ET #CreditChat ” Kasasa @Kasasa
  31. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about earning extra income?
  32. If you have a side gig (freelance writer, photographer, etc.) you may be able to deduct a lot of expenses at tax time. Wednesdays | 3 p.m. ET #CreditChat ” Lauren Young @LaurenYoung “
  33. Nothing wrong with a side hustle. Creating other revenue streams is smart and can help create wealth. Wednesdays | 3 p.m. ET #CreditChat ” Tanya Taylor @ttaylor2u2 “
  34. Get a side job now, relax later. Earning that extra income while you’re young can make all the difference in the future. Wednesdays | 3 p.m. ET #CreditChat ” Cinch Financial @CinchFinancial “
  35. #CreditChat Wednesdays | 3 p.m. ET What financial tips would you give your younger self about saving for retirement?
  36. Set your own goals for what you want retirement to look like. Don’t let anyone tell you you have to work till you’re 70! “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  37. Retirement seems far away, but it isn’t, and other stuff always comes up. Start now and make it a habit to save. “ Wednesdays | 3 p.m. ET #CreditChat ” Cinch Financial @CinchFinancial
  38. Don’t give away free money by not taking advantage of an employee match on your 401(k). “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  39. Contribute to a 401(k) as soon as you get your first job. Even better is a Roth 401(k), if you can. Wednesdays | 3 p.m. ET #CreditChat ” Kiplinger @Kiplinger “
  40. #CreditChat Wednesdays | 3 p.m. ET What’s the #1 financial tip you would give your younger self?
  41. Don’t put it off! Educate yourself about personal finance and financial planning ASAP, and get comfortable with the concepts. “ Wednesdays | 3 p.m. ET #CreditChat ” Brad Sherman @Shermanwealth
  42. You can have it all, but you don’t need to have it all at once.“ Wednesdays | 3 p.m. ET #CreditChat ” MyMoneyCoach.ca @mymoneycoach_ca
  43. Pay yourself first! Wednesdays | 3 p.m. ET #CreditChat ” Kiplinger @Kiplinger “
  44. Take your finances seriously. The quality of your decisions determine the quality of your life. Wednesdays | 3 p.m. ET #CreditChat ” Tanya Taylor @ttaylor2u2 “
  45. Follow Einstein’s advice: Take advantage of the power of compounding. Wednesdays | 3 p.m. ET #CreditChat ” Lauren Young @LaurenYoung “
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