As a young person, one of the best gifts you can give yourself is financial literacy. Financial literacy sets you on a path to achieving greatness and taking hold of your destiny. And remember, to be in charge of your destiny, you must first be in charge of your finances.
Below are 10 financial steps to take before you turn 35
1. Have a clear understanding of the values you have set for yourself as this directly affects your financial decisions.
2. Set long term goals for your finances, and celebrate every milestone on this financial journey.
3. Develop a well organized structure for your finances. Anything without a form of structure will flop.
4. Keep track of your expenses and ensure you differentiate between wants and needs.
5. Avoid impulsive spending. Keep your financial goals in mind daily to help guide you.
6. Create a personal balance sheet where you can visually analyze your finances.
7. As much as you can avoid debt as this may be detrimental to your financial growth.
8. Have more than one stream of income. A side hustle is always a sure bet.
9. Create a spending plan to monitor your daily spending habits. You do not want to spend your entire salary in one week.
10. Invest invest invest. This cannot be overemphasized. Your 35year old self will thank you immensely for the investments you make today.
Writer: Adeniyi Adekemi Oluwadarasimi