|
What is the most important money advice that a young person can get? |
|
Good question! For me, the most important thing money advice that a young person can get is that key to building wealth is getting debt free and staying out of debt. Having no debt except my mortgage has allowed me to save and invest instead of making payments to a credit card company or bank. By investing early, the power of compound interest works in your favor instead of against you if you have debt. That would be my advice. Thanks for the answers, they are good ones.
(Mar 22 at 20:26)
AskAboutGadgets.com
|
|
No matter who has what new toy, don't buy it unless you have the money to purchase it! Welcome to Cash Commons Brian!
(Mar 22 at 02:12)
mbhunter ♦♦
|
|
Pay yourself first. Learn about the power of compounding interest. These two lessons are SO important. If you set aside money and let it grow, you'll be more than pleasantly surprised. Good advice! Thanks Daniel!
(Mar 22 at 20:27)
AskAboutGadgets.com
|
|
How young are we talking about? Pre-college: Take AP exams. Test out of a year of college, if not two. Look for out-of-state deals to get a college education cheaply. Save tens of thousands of dollars. Also: Buy used whenever it makes sense to do so. |
|
Except for a home, if you can't pay for it in cash don't buy it. Thanks for your answer, and welcome to Cash Commons Tom!
(Mar 27 at 01:42)
mbhunter ♦♦
Good advise! I think I will carve it to stone :)
(Mar 30 at 18:02)
AskAboutGadgets.com
|
