If you have the opportunity to do it now, save. Do not postpone it as it will only get harder and harder when you start saving later. While you are still young, do what you can do. Save as much as you can and invest for as long as you can. One good advantage when you are young and you start saving is that you have a longer time to do it. You have many long years to look forward. You have every hour of your life to study and learn. Imagine having a good-paying job and splurging on luxurious and unnecessary items without plans for the future. Don’t let money problems arise just because you neglect to do think about your future. Here’s why you need to save during your first 3-5 years of working.
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You are young and driven as a professional. Once you graduated, you will feel the excitement of going out of your comfort zone and facing the real corporate world. You are excited to make the most out of your career while you make money. While you are at this stage of your life, spend moderately. I know you’re still new to your job and you can get overwhelmed with a lot of things especially what to do with your paycheck. Put your savings on your priority list and allocate a specific amount of money good for saving.
When you’re young, you have fewer obligations to think about. You just graduated and you are just starting to earn money. This is one of the reasons why you need to start saving now because later on, you will have more responsibilities on your shoulders. Fewer responsibilities mean finances are not yet a big deal. Use this opportunity to build your future life. Again, if you can do it now, do it. Do not postpone your early retirement.
When you have fewer responsibilities in life, your mind is still clear. This means that planning and executing are much easier to do unlike after 5 to 10 years when you have life starting to scramble up. Failing to plan is planning to fail. Start planning your early retirement now so you can execute your actions immediately. Start as young as you are right now and take care of your finances while you are still capable. Make your plan realistic and reachable. Design short and long-term goals that can drive you to save more money.