Like they say, 40 is the new 20, well in this case, 20 is the new 40. That’s right, 20-year-olds are now becoming rich like 40-year-olds by smart investments and money-making decisions. You too can start saving money and learning how to invest by using the following four ways to get rich in your 20s.
1. Trick Yourself. Everyday you wake up trick yourself into thinking you’re poor. Stick to a budget when you shop and pinch your pennies everyday. Treat yourself to buying soap and shampoo instead of purchasing brand clothes or downloading the latest app.
2. Get ugly. You don’t need the nail salon every week; take away the extra $80 per month by purchasing a do-it-yourself kit for only $5.
3. Say Your Goodbyes. Keep away from stores you can’t afford in the mere chance of an impulse buy. If you do walk by something you like wait until the next day to make the purchase, chances are if you waited one day you can wait a little longer.
4. Shrink Your Closet. Less room in your closet means less room for clothes and more money in your pocket. You don’t need fancy clothes to look good, because soon enough you’re going to be walking rich if you follow these savings tips for 20 year olds.
Now, we want to hear your savings tips for 20-year-olds. Please leave your comment or questions in the space provided below and share this article with your friends and family on Facebook and Twitter. Your comments or question could be chosen as our featured Money Question Monday and a phone call by financial expert Heather Wagenhals could dial your way to be live on the Unlock Your Wealth Radio Show.