Top 10 Financial Tips for 20-Year-Olds

If I could hop in a time machine and give some sage money advice to my 20-year-old self, here’s what I’d say. These nuggets of wisdom have helped me transform my financial life over the years, and they’re just as relevant today as they were back then.

First things first, it’s not just about how much money you make—it’s also about your mindset. Whether you’re making six figures or just getting by, your financial well-being is about more than just the numbers in your bank account. It’s about aligning your money with your goals and values, so you can design the life you want to live.

Speaking of goals, don’t expect your career path to be a straight line to success. In today’s world, it’s all about being adaptable and constantly learning. You might switch jobs, change industries, or take time off, so it’s important to build a financial plan that can flex with you.

When it comes to getting started on your financial journey, don’t wait until you feel “ready.” Just take that first step, even if it’s a small one. Starting is often the hardest part, but once you get going, you’ll find it easier to keep building momentum over time.

Another piece of advice? Talk about money, even if it feels awkward. Sharing tips and experiences with friends, family, or coworkers can help you learn new strategies and gain valuable insights. Plus, it’s a great way to break the silence around money and start feeling more in control of your financial future.

If you find money admin boring (who doesn’t?), try automating as much as you can. Setting up automatic transfers to savings and investments can take the decision-making off your plate and make financial progress feel effortless. And don’t forget about the other boring stuff, like insurance and KiwiSaver forms. Taking care of these tasks now can protect everything you’re working towards in the future.

Lastly, don’t forget to celebrate your wins along the way. Saving and investing can feel slow at times, so it’s important to acknowledge your progress and reward yourself for reaching milestones. And remember, nobody’s perfect when it comes to money. You will have setbacks, but that doesn’t mean you’re a failure. Keep showing up, stay motivated, and keep moving forward.

By following these financial tips, you can set yourself up for success and create a more secure financial future. And remember, it’s never too late to start making positive changes in your life.