What’s the best way to think about money? And how do you transition from saving to investing? We heard from readers and experts about how to make your money work for you.
Of course, different things may work for different people, and there’s no guarantee of success when it comes to investing.
“I am optimistic about my future because I am finally taking it seriously,” Miles said. “Your money journey is one you’re already on, so you may as well make the best of it if you can.”No one is born or raised in a vacuum, so it would be silly to think that young people haven’t already started developing a preconceived understanding of money that is tailored to their circumstances.
Not everyone comes around to this way of thinking so quickly. One 44-year-old man in Los Angeles, who asked, like some in this story, not to be named, told us he didn’t appreciate this until he was well into adulthood, but once he did it changed everything. But it doesn’t have to all be about preparing for the worst. Maybe you want to save for a vacation or a new outfit. The mere act of saving — and budgeting — is an important skill to learn.
“Budget, budget, budget,” she said. “Even if you aren’t able to stick to it every week, it is a great starting place for taking control of your finances.”As you leave school and enter the workforce, it can be easy to feel like an imposter. Sometimes it might seem like everyone has their shit together but you.
“Get familiar with how much money you make and how much you spend each month,” she advised. “If you’re using a credit card for most of your purchases, review your bank statement. It is so easy to swipe your card and to put off thinking of that cost until a later date.” “Learn how student loans work: I didn’t know anything about interest rates and signed up blindly with private companies,” she advised. “I wish I would have taken the time to look into it more.”
For Short, the Arizona resident, a trip to Germany was what was going to bring her joy. To help her save, she turned to technology.
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