4 tips to know before 30 years old.

So do a brain dump of all the “money lessons” you learned from your family and friends growing up. So ask yourself: are these “lessons” really true? Do they serve me?

2. Be really excited about your future.

It is not a question of budget. There, I said it. Come to me with your forks, come on.

A budget is just a tool. It’s like … a treadmill. Want to get in shape? Of course, a treadmill can help. But do you know what is more powerful than a treadmill? Have a good reason to get in shape. To marry? Do you want to be healthy for your children? Damn, now we’re talking. You can buy 10 treadmills, but if there is no reason to exercise every day, the treadmill will accumulate dust.

And that’s exactly why most “budgets” don’t work. Having a perfectly color-coded spreadsheet is useless if you don’t have a compelling reason to save money.

So write down 3 to 5 goals that you think are exciting. When your future goals are more exciting than what you’re currently spending money on, you’ll automatically start modifying your spending.

3. Don’t rush to buy a house.

I know there is a lot of pressure to buy a property in your twenties but … here is an unpopular opinion: you CAN go wrong with real estate.

NOT ALL properties are a good investment. And real estate is a massive investment. So if you get it wrong you are losing hundreds of thousands of dollars.

Listen to Mamamia’s money podcast, What the Finance. The message continues below.

This “mistake” can cost more than money. The pressure of a mortgage can “hamper” other lifestyle choices. You may feel unable to take “risks”, such as starting a business or changing careers.

Remember: only invest in things you understand. If you don’t understand it yet, keep learning until you understand it. So instead of committing to buying a property, what if you spent a few months learning about real estate first?

You could push your schedule a bit, but you’ll probably also save a ton of money by making more informed decisions.

And that brings me to tip number one …

4. Learn as if your life depends on it… because it kind of does.

A while ago I had the opportunity to interview personal finance guru Robert Kiyosaki himself. He is a multimillionaire and his book, Rich daddy, poor daddy, is an international bestseller.

Do you know what surprised me? He spoke about the time he continues to devote to his financial education. He suggested that most people are unwilling to devote the time to it.

I guess I thought that when you get to a certain point you can hit “cruise control”. It was a humbling reminder that: successful people never stop learning.

The fastest way to change your life is to invest in your own learning. Do not believe me ? Test it out. Spend the next 3 months investing in your financial education. I bet you won’t regret it.

Paridhi Jain is the founder of SkilledSmart, an independent financial education platform that helps adults learn to save and invest their money. For more money tips, you can get a free e-book on “5 Money Mistakes That Cost You Thousands” through their website, and follow them on Instagram.

Characteristic image: Provided.

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