What financial advice would you give your younger self?

[JinksySaur]

What advice would you give your younger self?

I'd probably tell my 18 year old self to stop spaffing my year-out job money up the wall, and invest it instead 😂

I'd tell my early-20s self to open a pension and drip a bit in each month.

I'd tell my early-30s self to increase salary sacrifice.

Stay single.

Similar to you really! Money was a bit of a taboo topic in my house growing up, so I really had no idea what I was doing when I got my first salary. I'll be sure to talk to my kids about this stuff.

invest earlier

Don't smoke

Save harder. Life is coming to take it all.

Put money in a pension. Do not stop doing this when working part time.

Start a pension as soon as you start working

I'd probably tell my 18 year old self to stop spaffing my year-out job money up the wall, and invest it instead

See, this is really interesting. I was very sensible and saved everything and lived frugally and I wish I'd had more fun with my money when I was young and not tied down by family, house, etc. Maybe it's a "grass is always greener" thing?

I've been a compulsive saver all my life. I'd probably say it's there to be enjoyed! That said it is the reason I was able to retire and basically spend my life travelling at 55.

To summarise the thread so far: spend half, save half!

Don't tie your finances to anyone else.

I agree - I should've been clearer. I'd advise me to have fun but also be sensible - save half the salary, use the other half for fun. The £12K I took home in my year-off disappeared on stupid shit. If I'd have invested half of it each month in global equities, it'd be worth about £35K today.

Don't get married.
Start a pension ASAP.
Learn about investing rather than saving.

Don't get a credit card! Learn to save for what you want and live within your means.

Don’t lend money out, even to relatives/best friends etc who promise to pay it back.

Actually, a credit card is good if used in the right way. Without a credit history, it’s harder to get mortgages etc.

Pension and property. Don’t keep buying clothes.

Do the economics degree sooner. I completed it in my late 30s and practice a lot of what I learnt with my personal finances.

Go into the civil service at 16 as soon as finished O levels.
Do evening classes if fancied it.
Get moped asap.
Ditto driving lessons and purchase cheap car.
Work way up in job.
Take any training opportunities.
Don't let people push me around.

Learn about investing rather than just saving. If it feels risky then just start with small amounts and watch it grow.

Pension, financial independence, saving. Repeat ad infinitum.

Do not get a credit card

Invest in a stocks and shares ISA rather than playing out safe with a cash ISA, pension contributions and premium bonds.

Don't do cocaine.

Don’t buy horses. I wouldn’t have listened though!