20 Things I'd Tell My Younger Self - Personal Finance and Self-Care tips
Updated 01/15/2023
A new year, birthdays, and even the start of a new decade causes us to reflect on the past, look at how far we have come, and think of all of the things we would tell our younger selves. If you had a chance to tell the younger version of yourself some encouraging words what would it be?
Would you tell them to keep going although life circumstances may seem hard? Or would you forgo all forms of encouraging advice and opt for influencing how soon they start to learn new skills and take on challenges?
Even if you are only in your twenties, you can look back on when you were 11 and remember past struggles. Whether it was family issues or just not having the cash to purchase games, you were out there trying to navigate life as a blooming young adult.
Not only can reflecting help you to remember the challenges you once thought were impossible have been conquered but it can be make you feel better about your current circumstances.
In the spirit of a new fresh year full of new year's resolutions and opportunities to shift our lives, this blog post has 20 simple pieces of advice that successful content creators, small business owners, mindful coaches, and financial literacy teachers have to say.
If any of the advice resonates with you majority of the pieces below have a link to the social media or website of the author.
She’sOnABudget - connect via IG
You’re not bad with money, you can’t be bad at something you haven’t been taught about.
Mackenzie - Check out her website
First of all, sunscreen. Always sunscreen. Even if you're inside all day. Sunscreen. TRUST ME. Second, don't be married to any one idea, person, or place right now. You are in your explore phase so go explore. Make mistakes. It's fine. Save some money yes, and invest as often as you can. But don't ever be afraid to change direction and explore something new.
Charlese - Connect on Ig
Start investing in a Roth IRA immediately. Don’t be afraid to invest in yourself - $50 for an ebook can give you valuable knowledge. Know where your money is going - analyze your spending and spending habits early.
1. Start consuming financial content ASAP!
2. Write out your Income / Expenses.
3. Analyze your current money situation.
4. Write out your SMART goals.
5. Create a FLEXIBLE budget that ladders to your goals.
6. Pick a system to monitor your progress.
7. Automate your finances by setting up auto deductions.
Andrew - Connect on IG
Start taking your finances seriously!
Don't just blow all of your money on materialistic things like shoes or phones. The earlier you start caring about your finances the better off you'll be in the future. I think something to think about is that you'll never find anyone complain or regret that they started caring about their finances. They only regret that they started later on in their life.
So, don't put it off until you come to the realization that it's too late!
Jean-Luc - Connect on IG
The best advice I’d give someone in their 20s is to learn a high income skill. There is a lot of free information and resources out there that you can use to learn skills like programming or graphic design or sales that you can monetize to make your own income.
Learn how to save your money and don't buy too many materialistic things. Budget! Keep an eye on the inflows and outflows of cash, and think long term of what you need the money for.
Lynn Marie - Connect on IG
My advice would be to have an emergency fund. An emergency fund is money saved for unexpected life expenses. Start with a beginner emergency fund and build up to 3-6 months of living expenses. I highly recommend Dave’s Ramsey book Total Money Makeover.
Unknown
Take time to learn how to invest your money. Then use the money to teach and inspire your friends.
Moe - Check out her website
It is so easy to see someone else’s success and think you aren’t deserving or become envious over their success. However, the truth of the matter is, you never know where someone starts or what they went through to get to where they are.
Trust the process. Trust YOUR process and realize that everything you’re going through is for the greater good. Every mistake and every lesson you learn will benefit you in getting to your final destination. Don’t quit.
Daphne - Connect on Linktr.ee
Save money! I know it sounds so basic but it is true.
If you want to ultimately control your lifestyle, having the finds to live off of for a while is important. Invest in a retirement fund now and set money from every paycheck aside as savings. It will add up!
My 2020 Covid layoff was a blessing. I was able to (knowing I have savings and retirement funds) take time to build a blog into a business and start semi-retirement at age 49.
Tiffany - Connect via IG
Learning good money management is the key to reaching your financial goals, from paying off debt effectively, to buying a home, to building wealth, and more. Please don’t cash out your 401k. I had a lot of jobs in my early twenties for companies with good benefits, and I’d opt into their 401k, but when I left the jobs, I’d cash them out.
After taxes and penalties, I’d end up with half (sometimes less) of the account balance. If I would’ve rolled that money over into an IRA or even left it alone (but not forget about it), I’d more than likely be a millionaire. I don’t actually want to do the math because it would hurt to know the actual figure.
Dareise - Connect via IG
Always bet on yourself. Even when you're fearful or doubtful. Know that you can and will learn as you go, grow as you go and figure it out. Do the things that scare you, because in the midst of the challenges that come with making that bold decision, you will evolve and tap into parts of yourself you didn't know existed.
B.Malcolm- connect via Linktr.ee
The advice I would give is to take financial literacy serious as soon as possible. Never use a credit card you aren’t going to pay back that same month. Make a budget. Us an excel sheet and track how much money you have going in and how much money you have going out. That is your net worth and now you can work on increasing it.
Anne-lyse - Check out her website
Invest consistently whether the market is up or down. When I was in my early twenties, I paid too much attention to the movement of the market, which didn’t always work out for me. As I started educating myself, I realized that investing didn’t have to be complicated, and that I as long as I was in it for the long run, I would come out on top
Erin Edwards - Check out her website
If you've taken out student loans, learn how they work and find strategies to pay them down. If you have a job, learn about your investment options and how they work so you can invest as early as possible. Find influencers who speak your language and then find other influencers who speak differently so you can form your own opinions. Educating yourself about money is the best investment you can make in yourself and your future when you're young.
Ashley - Connect on Ig
This is the season of self development. Go nuts! Learn about money. Learn about nutrition and exercise. Take a writing course, live in a different city, do all of the things you wanted to try when you when you envisioned growing up.
Boldly go after the things you want out in life even if you do it alone. Doing this will lead you to be the best version of yourself, and that is priceless!
Young Broke and Investing LLC Connect via IG
The sooner you start saving and investing the better. Money is not your key to happiness but financial independence will take a burden off your shoulders. You might be broke now but wealth is coming if you stick to your plan
What would I tell my younger self?
Making a plan is the best way to get through the storm. Write out what you want and then dig into the nitty gritty of how to get there. It’s difficult to do something for the first time but it’s worth it.
It sounds hard because it’s new but everybody has to start somewhere. I’m rooting for you even on the days you think no one is noticing.
