Please give me one piece of advice that you wish you knew when you were 20!

cloudcuckooland_3

My big advice would be - have faith in yourself. If something doesn't work out that you want straight away maybe you need to have a few goes at it.
I didn't have any back up at 20 and if I failed at something I gave up - I didn't have any support behind me to keep going. The big thing is you don't know which is the 'right' way to go except with hindsight but as far as DFW is concerned:
- don't buy into 'get it now' lifestyle
-look for what 'really matters' ie love, health, friends because they cost nothing - everything else is sales people selling you stuff you don't need
- make friends now because friends that last really count - if the lasting friends hang in there they will be around to help you out in those sticky moments - also, if you have to do the same for someone else that is really helpful to you as a person 9that's really difficult to explain....)Hope this is of some help and all the best to you.

jojitsui

My life would have been so much easier if only my 20 year old self knew the following!
1, Plastic is NOT fantastic it is pure evil!
2, Saving is the way forward even if you can only manage £10 a week it quickly adds up.
Thats it!! Only 2 simple things that would have changed my life!

gavin_gil

sickasachip13 wrote: »

Credit cards are evil - this is not 'your' money to spend, it belong to the bank and by god they will make you pay!

This is so true!!

As someone else said as well, set up a direct debit into a savings account, once you get used to doing that you won't miss it each month.

If the money I was paying towards debts now was going into a savings account instead I'd be laughing all the way to the bank!

Please please stay away from credit cards though!!

quantic

My new rule is if something is worth buying its worth saving for, the only time I will ever go into debt again is if I can pay it off the next month in full. Its amazing what you end up realising you don't want when you are given a bit of time to save for it.

ani_26

Hmm, my advice? The world is round.............................

Don't even think about such seriousness as what you should be doing, what you're friends are doing, what is expected of you, how not to get in or out of debt.

20 years old? You've got a bit put aside? Pack up a rucksack with a few belongings and off you go. Go and see the world. work your way around the world, if need be. Seriously. Go and enjoy your life xx

smithers1981

im 29 if only i could go back........ Pension start asap especially if your company provides one, house get on property ladder as soon as you possibly can do whatever it takes, in 20 25 years you could be mortgage free, steer well clear of credit cards, lethal like crack cocaine, so easy to just stick something on a card, and forget about , i owe 12k on mine and am only now trying to sort them out, before i can even begin to save for a deposit on a house, car ive had some sill cars that have cost me loads, petrol and car tax are expensive, look to get a car thats cheap to run many now only 30 pounds a year tax........

you can enjoy yourself more if you are financially secure, being savvy is also fun

keep checking out this site

discodiva123

I'm only 27 but wish i could turn back time and follow some of this great advice on here, so mine is as follows

1. do not treat overdraft, credit cards like its free money it isnt, i've only just starting to tackle this years on.

2, try not to lend money to friends its uncomfortable they might not give back,

3. have fun but find cheaper ways to do it free events, the boards on here, discount codes, vouchers, all that helps

4. save something each month and try not to touch it, i have a friend who has been saving fromn 20, i always thought she was a bit boring and sensible, turns out shes the one moving into a very nice apartment claeared debts at 27 and ding rather well, myself 8 back home living with the parents with no chance of moving out anytime soon.

5. do not try to keep up with gadgets, gizmos, mates, fashion, in 12 months time it will be old never worn, out of date.

sparrer

A few things I can think of offhand, no doubt all be said but it's late so I haven't read them all as I really should be in bed

1. like everyone has said, don't get a credit card - they're actually debt cards

2. The best piece of advice my Mum, ever gave me -When you have a major decision to make, sleep on it.

3. Never put pen to paper if you have even a moment's doubt. That includes signing anything you one day might regret

4. ALWAYS, ALWAYS, ALWAYS READ THE small print. Retailers, creditors etc rely on you feeling guilty about taking your time to read it.

5. Just remember the MSE mantras

I wasn't debt free til in my 50's - with your attitude you'll be a millionaire by then!

jonjamie1970

Regardless of income its amazing how much money can accumulate with interest etc when you dont have any debts, ISA etc etc means at least some returns. However the reverse happens even quicker, like the snowball effect but worse, credit card debts become larger as interest is added, like a runaway train they are hard to control and you end up spending additional money treading water.
Sorry for all the cliche's but thats how I feel at the moment, Ive just paid for my car insurance and tax in one go and therefore no additional charges, feels good !!

dipashah

CREDIT CARD AND CASHBACK SITE: Although lots of people on here say stay away from credit cards...Martin is often telling us to use credit cards that offer cashback...but the key thing is...ONLY DO THIS IF YOU CAN AFFORD TO PAY IT ALL BACK at the end of the month in one go!

Then it is great as can use a cashback site, and pay for online shopping (only bargains and stuff like insurance that you need!) with cashback credit card and get a bit back for your spending. Although the % may seem small, over the years I have got £100's!

Good to know:

http://goodtoknow.cashback.co.uk/r/995289

Topcashback:

http://www.topcashback.co.uk/ref/dipashah

it is always worth checking on each which offers the best cashback for whatever you need, but try and stick to one site where possible as you often have to reach a threshold before you can withdraw to your bank account. Good to know offer cashback to a bank account or Amazon vouchers (with a 5% added boost if you go for this option!)

PENSION: you are never to young to start saving for a pension - esp if your company wil contribute towards it

CHEAP SOCIALISING: Bingo can be fun in a group, and is often free! Or sign up to the threads on this site that offer free cinema screening codes. Or look up discount/voucher codes when you go somewhere (even restaurants!)

CHEAP EATS - as well as Martins emails with restaurant vouchers, there are sites like toptable that offer great discounts on eating out!

GROUP BUYING SITES: Groupon, Wowcher, KGBdeals - all offer great discounts on eating out, experiences, beauty things, hotels, trips...in fact on everything! sign up to get their daily offers....but don't get carried away...only buy what you know you will use anyway and always read T&C to see validation periods!