Money Advice I Would Tell My Younger Self

Money Advice I Would Tell My Younger SelfI realize I’m still young since I am only 25 years old, but there are still several things I would tell my younger self about money.

I definitely was not great with money when I was younger. I made many money mistakes that led to me wasting thousands upon thousands of dollars. I cringe about the money I wasted, but I know that I learned from these mistakes and I am improving my financial life each and every day.

Everyone makes mistakes. The key is to learn from your mistakes and make an effort towards not making the same mistakes again. Dwelling in the past won’t fix anything, but it can be a good reminder so that you don’t fall victim to the same money mistakes over and over again.

Below are seven things I would tell my younger self:

 

1. Stop buying clothing!

I spent way too much money on clothing when I was younger. For the most part, they were all items I never even wore, or I only wore a few times.

A COMPLETE waste of money.

From about the ages of 16 to 21, I worked as a full-time retail store manager, which meant I was surrounded by clothing 40 hours each week. It was hard not to buy anything, and I often spent thousands upon thousands of dollars on clothing items each year that I did not need.
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Why You Should Invest and Save For Retirement – Plus a Personal Finance Confession Fail

Why You Should Invest and Save For Retirement Plus a Personal Finance Confession FailThere is one topic here on Making Sense of Cents that I hardly ever talk about. That topic is investing.

Investing is something I have never really gotten too deep into in my personal life. I know, personal finance blogger fail right here.

It’s an area in my life that I have been too embarrassed to really talk about. We’ve always had some money in a retirement fund, but nothing to be proud of. My main excuses in the past were always that I was paying off my student loans, saving for something, or preoccupied with things going on in my life.

We do have other money saved as well, but I’ve made a huge mistake of letting it sit in accounts that earn hardly anything in interest.

However, I plan on changing that now.

To make a long story short, I took a leap and bought a few hundred shares of Vanguard Total Stock Market Index Fund Admiral Shares and put it into my SEP IRA. Yes, I’ve finally joined the Vanguard bandwagon thanks to Holly at ClubThrifty and J. Money at BudgetsAreSexy (among several other bloggers!). It is cheap to invest in VTSAX, and their diversified holdings definitely had my interest. [Read more...]

How To Save Money On Hotels And Go On More Vacations

How To Save Money On Hotels And Go On More VacationsEver since I switched to self-employment and became location independent, I have gone on several trips. Having the ability to travel more was one of the reasons I left my day job to work for myself, so it makes sense.

I am often asked questions about how we are able to afford these vacations, and many just assume that we’re spending thousands of dollars on each vacation. Or, that we are in debt…

Neither of these are true.

Our vacations are usually fairly cheap and that is how we are able to go on so many. We spend no where near the $4,000 average that others spend on each vacation.

We are able to spend significantly less than the average because we actively look to save money when on vacation, such as with how much we spend on where we sleep. Usually hotel costs are one of the largest parts of a person’s vacation budget, but they don’t have to be. There are plenty of ways to save money on your accommodations, and, this way you can go on more vacations because you can spread your vacation budget further!

Here are my tips to save money on hotels and rentals so that you can go on more vacations. Also, I have two discounts below that will give you a $25 off Airbnb coupon code and a $30 Uber coupon code, so continue reading! :)

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