Weekly Video Finance news summary (2 mins)Jul
17
2007
Ten top tips for your 20s (pt.4/5)
Author: nobelfinance- Work out what you want to be when you grow up While there’s no denying that this is the time for experimentation, it’s also true that wealth is generally a long-term project. For that reason, it’s good to be earning regular cash for as long as possible. Lying on the couch daydreaming about getting rich is not an effective strategy. “Getting established in a career and earning a regular wage should be one of the financial focuses of your 20s,” says Freeman and Richards.
- Read the fine print “These days, credit is too easy to come by,” says Walker. “Marketing makes it ‘sexy’ to have flash phones, cars and credit cards, and they seem to give them out to anyone. Unless you understand your obligations and/or are disciplined, you can wind up with large bills that can cripple your cash flow.”Freeman and Richards agree. “Mobile phones can be a particular problem. Always check the fine print before entering into a contract and be sure you can sustain it financially.”
