This morning I broke from routine and posted a book review about Kim Palmer’s Generation Earn, rather than going with my typical Friday morning Your Take post. her book was being released today and I thought it would dovetail nicely into a mid-morning Your Take asking you for your best money tip for young professionals.
My best money tip for young professionals is to enjoy yourself. Use the first few years out of college as a way to explore who you are, what you want to do, and where you want to be in twenty years. The standard advice of saving for the future, your retirement, and all that jazz is great but you want your early twenties to be about exploration, not careful deliberation about interest rates and where your next dollar goes. That’s not to say you shouldn’t be smart about money. You definitely have to be. Don’t rack up credit card debt, save for retirement, but be sure to spend a little time exploring what you want to do and where you want to be.
When you settle down, get married, buy a home, and start a family, you lose a bit of the flexibility. Marriage is wonderful, owning your own home is exhilarating, and I’m sure starting a family is very rewarding… but make sure you spend enough time on yourself so that you’re ready for those big events when they come.
What is your best money (or life) tip for young professionals?