Money for the Rest of Us

As recent graduate, I couldn’t wait to start earning some money. Unfortunately, with the lack of financial education in schools, the only guidance I had was what I received from my parents and what I read. That only gets you so far. With all the advice dispensed this time of year, I thought a little bit more couldn’t hurt. Moreover, I gathered up some input from other twenty-something bloggers and included that here as well. Enjoy!

1. Find a something that you enjoy and do it for a living. This tip was originally find a job that you enjoy, but I realized that many people don’t consider the way they earn a living a “job.” If you find a job you truly enjoy, the money will follow. At least that’s what everyone says. I know I enjoy helping people (like doing service work). Even if I don’t do this for a living there are other ways to help people. Here are some suggestions on how to do that on a small budget.
2. Spend less than you earn. This goes hand-in-hand with getting out debt. Getting out of debt can be a huge challenge that can take some people years and years. Be patient and persistent and you will overcome it. Grad Money Matters offers some great advice on how to get out of debt.
3. Save. There’s great beauty in compound interest. If you need convincing that you should start saving now, take a look at this chart. Here’s a good post from I Will Teach You to Be Rich about saving and budgeting.
4. Have fun. Just because you’re not in college doesn’t mean you can no longer have fun. Here are some tips from others on spending less while having fun. Remember you don’t have to be totally cheap to have a good time. Read this post from Ramit if you need to be convinced. Here’s some advice from Grad Money Matters on Frugal Ways to Spend Time with Friends. Noah from Okdork offered this advice: “Pre-party. Drink a little before you go out, taxi to the place and you just saved a ton of money on drinks. Or bring a flask to the bar.”
5. Wear Sunscreen. This is very cliche, but it’s true. If you don’t have your health you can’t effectively take care of yourself or your finances. Find an activity that helps you stay in shape and participate in it frequently. This can be anything from running, to tennis, to yoga. Just take the time to take care of yourself.

I wrote this top 5 post as part of Problogger’s Top 5 group writing project. I’ll link to some other personal finance top 5’s later this week.

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