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Financial Advice From Older People to Their Younger Selves

“If only I knew then what I know now” is a familiar saying to most of us. If only we had a way to give advice to our younger selves on all of our hard-learned lessons. Maybe then we could take an easier path, especially when it comes to finances.

Many have made costly mistakes in their time that they wish they could change and although it’s impossible to change the past, it is possible to try and prevent others from making those same mistakes. Consequently, if time travel were an option here are a few important pieces of financial advice to give to your younger self.


Mikhail Nilov/ Pexels | Around 40% of Americans who work are not saving any money for retirement

Saving for the future can be a challenge and tough, especially when you are struggling to plan your presentation. Planning for your retirement and creating a goal for them is the last thing you would want to hear but it is just as necessary as saving for college for your children. If you don’t plan that time out rather than thriving like your friends with no financial worries and stress, you would be grappling with poor living and a stressed family. Even insurance companies won’t be able to carry out all your expenses then. More so, you’d be forced to work even after retirement.  

Save as soon as possible

The following advice is often repeated but all too often not heeded: do not wait to start putting money aside for the future. It really does pay to save and the earlier you start the better. You might not be able to save much at the beginning, but small and regular contributions can build into a significant pot over time. Not only this, but your savings could also pay for important events later in your life: such as your retirement, children’s education or wedding day.

Pavel Danilyuk/ Pexels | Saving money gives you a way out from uncertainties of life and provides you with an opportunity to enjoy a quality life

Revenues and market 

Usually, people hold off on an item or stock and keep checking the market and predicting where they could make a fortune. Rather than playing a blind eye and “saving for the right moment” you could start investing in big rocks and earn through that. The stock market is always unpredictable, you can never predict your fortunes and losses. Hit goals such as housing and different ideas rather than risking their and their family revenues on a game of chance.

Don’t start overspending after receiving the paycheck  

When you are handed over your paycheck, that is a great time to help you lift up your motivation and let your feathers breathe after all those weeks of a hard-earning and stressful job. It’s also a time to celebrate financial independence and freedom to spend your well-earned days off and free time as you wish. Rather than using all your money on a fancy trip with your wife or buddies, budgets every spending.

This doesn’t mean you can’t go and visit all those places you saved money for or treat yourself with new products and accessories. Instead, focus on things that could help you save while spending, such as food, living allocations, and shopping. Plan your trip to be as flexible and unscripted as possible. You can use discounts and coupons to save an extra couple of bucks. Keep your savings, investments, and spendings apart. 

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