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3 Finance Tips for Beginners

Nicholas A.

The one thing I wish I was taught in High School was how to manage my finances.

Coming into university, I did not know what I was doing, I felt like money would just fly out of

my pocket. With the knowledge I have now I am not only able to save, but to plan out my

finances. So, without further ado, here are three easy finance tips I wish I had learned when I

was younger.

First you got to learn self-control, just because you can buy it does not mean you have

too. Now I’m not saying not to buy something you really want; I’m saying save up before you buy

so you will not have to choose. A little bit of self-control here and there can go a long way in

saving money.

Speaking of saving, my next tip is to start saving for retirement right now. A savings

account has compound interest which is basically interest on top of interest, means you will not

have to invest as much in the future and may be able to retire early. Just remember, it is never

too early to start saving and apply that to all future expenses.

Finally, and most importantly, see where all of your money goes. If you notice your bank

account is looking a little smaller than you want it to, or even empty, look at where it all went.

Its ok to be broke, most people have been, but if you can figure out what is eating up your

money and budget around it, you will start to see a difference in your account.

Managing money is hard for people who are just starting out, even harder if no one has

taught you how to manage it. However, with these three tips you will be well on your way to

mastering it. Use these three tips to start on your way to mastering your finances.

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