#FinancialAdvice #BankingTips #PersonalFinance #Budgeting
Hey everyone! 💸 If you could go back in time and give your 18-year-old self some personal finance and banking advice, what would it be? 🕰️ Here are a few tips to get the conversation started:
– Start saving early: Even small amounts add up over time 🌱
– Create a budget and stick to it: Knowing where your money is going is key 📊
– Build an emergency fund: You never know when you might need it 💪
– Avoid high-interest debt: Credit cards can be a slippery slope 🚫
– Invest in your future: Start thinking about retirement sooner rather than later 🌟
What do you think? What advice would you give to your younger self? Let’s help each other out with some valuable tips! 💡 #MoneyManagement #FinancialLiteracy
Buy nvda, msft, aapl, btc, house, spy, voo, tsla
Buy SnP often and a lot of it lol don’t worry about current prices
Always bet on black
Work hard and invest for 10 years instead of party..
get a prenup
Buy bitcoin…. lol nah but I would have started investing in monthly paying dividend stocks right away. Cash flow is king baby.
There are two that stand out…
1.) Your best investment is investing in yourself.
2.) The monetary system is inherently designed to be inflationary. Know this, and let time in the market do the heavy lifting.
Start investing as early as possible! Money,time and discipline will benefit your older self
Buy the r32 gtr
Fk more chicks
When you first move out, don’t furnish your first place with credit. Interest is a bitch, and you’ll be paying that shit off for years.
Don’t pay bills for people who don’t have the money, especially when you are also paycheque to paycheque. They’re never going to pay you back and the relationship will tank because of it.
Even if just a little bit at a time, invest part of each paycheck. Start putting money into your TFSA, FHSA, and, in my case, your RDSP.
Only trade 10% of your net worth in options.
The rest of your savings, put it in a US index ETF and do not day trade.
for me, it’s all about the timing, the biggest one:
– don’t YOLO right into (insert small minor sector that got crushed in 08/09), instead wait for March 2009 lows, and cherry pick some big Cdn/US names. You’d be filthy rich and if they were dividend stocks, today I’d be getting 15% or something in dividends/yr and the capital gains.
– and if I can give myself a second piece of advice, buy the 2020 march dip, sell nov 2021, or in Canada, Apr 2022.
I’ve generally been decently invested throughout, but if you can cherry pick the bottoms and tops thru a time machine scenario, why not?
Focusing on maximizing your earning potential will improve your personal finance situation much more than focusing on investing, etc. Your choice of career will be one of the most important factors in your financial stability. Forget about pursing your passions. Pick an in-demand, high-earning career that you don’t hate and pursue your passions on the side with the money you make from your career.
Take my waiter tip money and invest instead of leaving it in a savings account
don’t chase higher paying jobs, look for those that allow you space to develop and grow, and those who have leaders that will advocate for you.
Don’t buy mutual funds. They are are a rip-off. But ETFs
Invest in gamestop, never listen to the trolls, if I’d held I would of been rich
Max your tfsa right away, get into a good low cost etf and stick with it, never pee against the wind.
Live within your means
I would say try harder to make financial goals. I always kept stuff in very conservative mutual funds because I never knew if and when I would need the money. In retrospect, I could have placed a lot of money into something for the longer term as I didn’t end up needing too much of it. I guess better that than put it in something aggressive and risk it being way down when I did need it.
Stay away from credit cards. If you want one/need on keep a low limit (under $500). The bank will try to encourage you to raise it, don’t until you have a strong hold on your finances.
Honestly, “STOP ORDERING STUPID THINGS FROM EBAY!!!” Also, pay off your credit card every month. For so long I kept a balance and didn’t care and it just kept adding up. I paid so much wasted interest.
DO NOT SPEND ALL YOUR MONEY ON DRUGS
Firstly, learn to budget and be mindful of your spending. Track every dollar if you can. You’d be surprised how much money can slip through the cracks if you’re not paying attention.
Secondly, invest early and invest often. The sooner you can get that snowball rolling, the bigger it’ll get, and the faster it’ll grow.
Buy as much Apple stock as possible
It’s not because you have money in your bank account that you must use it. And do not use a credit card.
I started working at 16 and never put a dim in saving until I was in my late 20s… I feel really stupid for it but what is done is done. Don’t be me