5 personal-finance tips for young people - Deepstash

5 personal-finance tips for young people

  1. Start saving early to have a good start on building retirement savings before beginning a family and career.
  2. Understand that credit cards are not a safe net, using it may lead to debt.
  3. Buying life insurance when you’re young ensures you’ll get lower premiums and potentially avoid costs if it has a grandfathering clause.
  4. The cost of buying a car might mean you’ll have to delay buying a house.  Look at your budget carefully and test drive additional payments for 6 months if you think you can do both.
  5. Plan how to avoid impulse spending to avoid debt and distress. Set a waiting period proportional to the price of what you want to buy. Anything worth having is worth waiting for.

298

856 reads

CURATED FROM

IDEAS CURATED BY

lil_ww

"In fact, the confidence of the people is worth more than money." ~ Carter G. Woodson

The idea is part of this collection:

Daring To Be Vulnerable

Learn more about moneyandinvestments with this collection

How to overcome fear of rejection

How to embrace vulnerability

Why vulnerability is important for personal growth

Related collections

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

100+ Learning Journeys

Access to 200,000+ ideas

Access to the mobile app

Unlimited idea saving

Unlimited history

Unlimited listening to ideas

Downloading & offline access

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates