hr: Money

Ah finally: School is over and the world is your oyster. Career opportunities are spread before you like the proverbial red carpet. Your youthful passion makes you want to make your mark, earn enough money to move out of your parent’s home, buy a car, explore the world, look very fashionable, and get a life partner.

Although this stage is the best stage to spend, it is also the best stage to save. Avoid debt as much as possible in this stage. Get a health and disability insurance coverage. You will never know when an unfortunate event will happen to you. If you do happen to be in great shape, do not worry as insurance would not cost you that much.

Watch your debt. All the youthful exuberance can burn a hole in your finances, and the fire burns faster than your capacity to earn money. You run at risk of getting buried by credit card debt. Use debt with prudence.

If you started investing at a much earlier stage, you are now on a head start from your peers. You hold investing knowledge and experience that still some of your peers are still starting to learn and master now. If you do happen to be those “some”, it is still not late to start. Make monthly contributions to an equity fund. It is always said that stocks perform better than any other investment instrument out there in time. Time is an ally; let it help you not burden you in the long run.

If you manage to get disciplined in this age bracket, you’re in one, healthy wealth ride!