It’s Graduation Season — What Do You Wish You’d Known?
While I still believe that “Wear sunscreen” is some of the best general advice you can get as a graduating student, getting a little money-related advice is a good idea too.
Looking back, I wish I’d known that I should always save at least 10% of my income, no matter what. And that if I make so little money that saving 10% of my income seems impossible, that I’m either spending too much (probably on my car!) or else I need to get a better paying job.
Getting a copy of Your Money or Your Life at graduation would have have put my life on a much straighter course to the path I’m on now. If only I could turn back time!
Basics like how to budget and plan for the future would have been useful as well, along with exactly why staying out of debt is an outstanding idea. There’s a difference between knowing intellectually that debt wears you down, and understanding the freedom and flexibility you have when you aren’t weight down by debt.
Did you receive any financial advice as a high school or college graduate? What do you wish you had known back then?