Ten top tips for your 20s (pt.5/5)
Wednesday, July 18th, 2007- Make time work for you The beauty of being in your 20s is that time is on your side. “People this age can make mistakes and recover,” says Walker. “They have time to make more money and save; they have time to compound investments over a reasonably long time-frame.” Which means that your savings have a long time to grow into something worthwhile. And the same goes for superannuation — that $10 a week you put in now could make for a very comfortable (or even early!) retirement.
- Understand your money The fact is, you’re not a kid any more, whether you’re 20 and one day, or practically 30. Your finances are your responsibility and there’s probably not a Prince (or Princess for that matter) waiting to sweep you off your feet and out of a financial disaster zone. “Focus on learning the true value of money and how to be responsible for your own,” says Walker. For more information on WLM Financial Services Pty Ltd, visit www.wlm.com.au. To download an updated version of Money Management for Women ($19), visit www.sheilafreemanconsulting.biz

