1. HARNESS THE POWER OF RETIREMENT ACCOUNTS 


With recent census statistics, the average value of a retirement account in the US is 10,000 USD.

That's a staggering number because it is 140% or 2.4 times the average asset net worth for singles under the age of 35 who often use it to buy apartments and real estate. This means retirement accounts are a reliable way to accumulate wealth.

Unfortunately, the data shows that a lot of young people don't invest in any retirement accounts.

2. LEARN ABOUT THE STOCK MARKET AND INVESTMENT


If they have free money, many people keep their money in bank accounts because they are threatened by the dangers of the stock market or fear they will lose money. Contrary to these fears, the second biggest contributor to net worth for young people outside their home is stocks and mutual fund shares.

If you don't know how to invest, think about low-risk hedge funds. These funds are often simple, highly effective, and affordable. This is how I was taught investment while studying at Harvard Financial College and Wharton Financial College. As one expert put it: "If you just choose one stock to invest in, you're an idiot."

By investing in financial funds, you are investing in the stock market, allowing you to interact with many different companies while reducing the risk of choosing the wrong company or the wrong sector to invest in... There is no guaranteed investment, but this is how the world's top money managers recommend individual investors to do with their money.

3. REALISE THAT YOU NEED TO DEVELOP JOY LATER ON NOW


According to the evolutionary doctrine, we always want more than we have. It is accepted as a matter of course for humans to progress to another height.

Of course, it also has negative effects. Just like not understanding that money doesn't buy it all, it can't bring us happiness. Books like "Tuesdays With Morrie" or the famous "Last Lecture" make it clear that when the last seconds of life people don't talk much about the matter.

Of course, it also has negative effects. Just like not understanding that money doesn't buy it all, it can't bring us happiness. Books like "Tuesdays With Morrie" or the famous "Last Lecture" makes us realize that when the last seconds of life people don't talk much about the matter.

Understanding this lesson will allow you to avoid mistakes such as not saving for the future but wasting money. There is a need for a balance for everything.

4. LIVING IN YOUR OWN WAY IS NOT A WEAKNESS BUT A STRENGTH


When I lived in New York after I graduated, something bad happened. My family is poor, so from a young age, I am not used to participating in many high school and university activities simply because my family condition does not allow me. My friends also know and understand me.

But when starting to work, it is indispensable to go out to create relationships and social activities. Can't use the excuse of not having enough money anymore.

Yes, the tricky issue here is related to differences in thinking: Not everyone spends all of their earnings to enjoy!

5. THINK ABOUT WHAT'S BEST FOR YOURSELF FIRST


Once the salary is transferred to the account, what is the first thing to do? Not your first priority is to play well, you need to figure out how to spend on personal expenses and save for retirement. It is essential that you immediately accumulate some methods to manage money because your future happiness depends largely on how much money you have at that time.

First, look for big recurring expenses like rent or utility bills or other big charges. It will have a more impact on your total money than giving up a cup of coffee this morning. It's also worth noting that non-recurring charges are a lot like buying contact lenses, which often cost hundreds of dollars. Use price comparison websites to find the best price for you.

6. LEARN HOW TO MANAGE YOUR CREDIT CARDS AND BECOME A SMART SHOPPER


Things that affect your finances a lot are the balance between the money in your account and the interest you pay each month. Because credit cards often have high-interest rates.

Focus on paying off debt, at least on small fees on time. Of course, you will always want to pay it off in lump sum as much as possible to avoid interest charges, but usually not. Instead, try to get your bank card just to hold the money, not overspend it. This will increase your credit score.

7. INCREASE REVENUE TO ACHIEVE YOUR FINANCIAL GOAL


To do that, you must estimate the right goals first. Take the time to think about where you want to be 6 months, 1 year, and five years from now from a financial perspective. From there, you can focus on using the salary and expenses you need to pay each month to set your annual savings and investment goals.