What financial advice would you give yourself at 18?

 

I'm 62 , and on the off chance that I knew at 18 what I know today, I would have 3–4 times the cash I have now.

The main rule with regards to life and cash is opportunity.

It is critical for your viewpoint and life quality that cash doesn't have you. In the event that everything you can consider is that you need more cash and that cash will tackle virtually the entirety of your issues, you are accepting a falsehood that will in the long run annihilate you.

Nonetheless, cash is significant and it is a great idea to have it as long as it doesn't have you. Furthermore, there is a guaranteed way this can be in balance. Single word: give. Be liberal and kind.

Having said that, the most remarkable rule in cash the executives is compounding. Begin contributing early. Continuously take a segment of each check and contribute it.

Put resources into a retirement account, the Roth IRA is one of the better, since the increases develop tax exempt .

Set aside a backup stash, 3–6 months of costs for difficult situations.

Purchase a home in a hurry.

Begin purchasing projects and lease, focus on at least 10.

Figure out how to exchange stocks and furthermore how to contribute as long as possible.

Continuously live underneath your methods/pay.

Get cash for just 3 things: schooling, land and your first vehicle. Your second vehicle and each vehicle after that ought to be paid for in real money, or, if your credit is brilliant, get to purchase your next vehicles and put away the cash for a better yield. Simply keep paying yourself the installment measure of your first vehicle advance after it's settled completely until you are prepared for an update. On the off chance that your vehicle credit was 200/month, in 10 years you will have 24,000, or in the event that you contribute it, 30–35,000.

Never purchase a spic and span vehicle, 1–5 years of age is alright . Try not to squander $5000–10,000 extra on another vehicle. In half year's time it's a pre-owned vehicle and the worth has gone down 5K-10K or more.

Keep your vehicle at least 10 years, never rent, consistently purchase.

That is the thing that I would advise myself at 18. 

 

Source: Geir Stolen