financial tips you would give your younger self
TRANSCRIPT
#CreditChatWednesdays | 3 p.m. ET
Financial Tips You Would Give Your Younger Self
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
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about saving money?
Save early and often! You won’t notice if you automatically have
money sucked out of your accounts.
Wednesdays | 3 p.m. ET#CreditChat
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Lauren Young@LaurenYoung
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Live below your means- just because you can afford it doesn’t mean you
should buy it.
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Wednesdays | 3 p.m. ET#CreditChat
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Brad Sherman@shermanwealth
Start automating your paychecks so a portion goes to a savings account. If you can’t see the money, you can’t spend it.
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Wednesdays | 3 p.m. ET#CreditChat
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MyMoneyCoach.ca@mymoneycoach_ca
Save 10% of each paycheck. The sooner you start getting into a routine with saving, the better!
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Wednesdays | 3 p.m. ET#CreditChat
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SuperMoney@supermoney
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about debt?
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.
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Wednesdays | 3 p.m. ET#CreditChat
”Southeast Financial@SFCUNews
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.
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Wednesdays | 3 p.m. ET#CreditChat
”Douglas A. Boneparth@dougboneparth
Know the difference between credit and debt. Learn to use credit as a
financial tool.
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Wednesdays | 3 p.m. ET#CreditChat
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Rod Griffin@Rod_Griffin
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about budgeting?
Budgeting isn’t meant to be restraining. It’s meant to keep you free; it’ll keep
you from falling into debt.
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Wednesdays | 3 p.m. ET#CreditChat
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Leslie H. Tayne, Esq@LeslieHTayneEsq
Learning to budget is the backbone to your financial success. Spend the time
to get organized.
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Wednesdays | 3 p.m. ET#CreditChat
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Kasasa@Kasasa
Make a list of what you want to spend for a year, but put it in two columns: Wants and Needs. They’re different.
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Wednesdays | 3 p.m. ET#CreditChat
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Brad Sherman@Shermanwealth
Every good budget starts with tracking your spending so you budget your
expenses more accurately.
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Wednesdays | 3 p.m. ET#CreditChat
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MyMoneyCoach.ca@mymoneycoach_ca
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about credit and credit scores?
Make sure you’re keeping track of what is being reported on you. Check
your scores at least 1/yr.
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Wednesdays | 3 p.m. ET#CreditChat
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Kasasa@Kasasa
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.
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Wednesdays | 3 p.m. ET#CreditChat
”Brad Sherman@Shermanwealth
Get a credit card early! Make small purchases and pay off promptly = strong credit history later on.
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Wednesdays | 3 p.m. ET#CreditChat
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Miriam Cross@MiriamSCross
Start establishing credit history as soon as you can. Pay off your debts in
a timely manner!
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Wednesdays | 3 p.m. ET
Emerge@emergebenefit #CreditChat
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#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about student loans?
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
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Unless you have to, don’t pay for more than tuition/books with
student loans. Get a job to pay for living expenses.
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Wednesdays | 3 p.m. ET#CreditChat
”Southeast Financial@SFCUNews
Only get what you need and pay interest when you can. (Even if it’s not
technically due yet.)
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Wednesdays | 3 p.m. ET#CreditChat
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Shirley DuBose@MzShirleyD
Know your student loan rate, terms and deferment options. Make sure you understand them before you take the
loan.
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Wednesdays | 3 p.m. ET#CreditChat
”Brad Sherman@Shermanwealth
If you’re thinking about asking someone to cosign on your loan be aware that if
you default, your cosigner will be responsible.
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Wednesdays | 3 p.m. ET#CreditChat
”MyMoneyCoach.ca@mymoneycoach_ca
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about investing?
Do the math: the earlier you start saving and investing, the more interest
you’re getting on your interest.
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Wednesdays | 3 p.m. ET#CreditChat
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Brad Sherman@Shermanwealth
Invest in yourself at a young age. Always take advantage of your
company’s 401(k) plan.
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Wednesdays | 3 p.m. ET#CreditChat
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Kasasa@Kasasa
#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about earning extra income?
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
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Nothing wrong with a side hustle. Creating other revenue streams is smart and can help create wealth.
Wednesdays | 3 p.m. ET#CreditChat
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Tanya Taylor@ttaylor2u2
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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
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#CreditChatWednesdays | 3 p.m. ET
What financial tips would you give your younger self about saving for retirement?
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!
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Wednesdays | 3 p.m. ET#CreditChat
”Brad Sherman@Shermanwealth
Retirement seems far away, but it isn’t, and other stuff always comes up. Start
now and make it a habit to save.
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Wednesdays | 3 p.m. ET#CreditChat
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Cinch Financial@CinchFinancial
Don’t give away free money by not taking advantage of an employee
match on your 401(k).
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Wednesdays | 3 p.m. ET#CreditChat
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Brad Sherman@Shermanwealth
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
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Kiplinger@Kiplinger
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#CreditChatWednesdays | 3 p.m. ET
What’s the #1 financial tip you would give your younger self?
Don’t put it off! Educate yourself about personal finance and financial planning
ASAP, and get comfortable with the concepts.
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Wednesdays | 3 p.m. ET#CreditChat
”Brad Sherman@Shermanwealth
You can have it all, but you don’t need to have it all at once.
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Wednesdays | 3 p.m. ET#CreditChat
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MyMoneyCoach.ca@mymoneycoach_ca
Pay yourself first!
Wednesdays | 3 p.m. ET#CreditChat
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Kiplinger@Kiplinger
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Take your finances seriously. The quality of your decisions determine
the quality of your life.
Wednesdays | 3 p.m. ET#CreditChat
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Tanya Taylor@ttaylor2u2
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Follow Einstein’s advice: Take advantage of the power of
compounding.
Wednesdays | 3 p.m. ET#CreditChat
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Lauren Young@LaurenYoung
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