“I never learned that in college.”
“Nobody taught me that.”
I’m ashamed over how many times I’ve had to repeat those phrases. I don’t want this to happen to you.
This article is for students, folks in trades, young professionals, hard working people, athletes, brutes, mercenaries, savages, and everyone that doesn’t know the secret rules of money in their 20s.
This one article alone is going to share with you all of the secrets about money that you need to know that you just won’t find in school or anywhere else.
Rule #1: It’s easier to save money, but it’s better to make more money.
I don’t care about how much you saved by staying in the last six months. I don’t care how much you save on food because I enjoy my steak. I don’t care about the money that you save by brewing your own coffee.
Here’s my question for you…
How much more money did you make in the last month?
Actually, a few more questions…
Did you increase your income this year? Did you upgrade your skills?
Any fool can read a frugality blog and never go out again. A real financial stud goes after the money and creates opportunities to make more money. Making more money is better than trying to save every penny.
[Recommended read: How-to start an online business in six easy steps.]
Rule #2: You can’t always do the math.
Please, don’t always try to add the numbers. Personal finance isn’t always about the numbers. There are times where you can’t stress about the bottom life.
For example, at your best friend’s birthday or stag, there’s no budget.
Another great example is my strategy for getting ahead.
I believe that you should take successful people out to pick their brain.
This obvious means spending money. You can’t worry about it.
I also believe in investing in yourself.
Some of this will go against typical frugality advice. That’s okay.
[Must read: The 8 golden rules of money for dudes in their 20s.]
Rule #3: You don’t have to spend money on drinks to meet girls.
“Are you going to get me a drink?”
A young lady had the nerve to ask my cousin this before even engaging in conversation.
What did he do? He agreed to get her a drink. He got her a refreshing glass of water. Her reaction was priceless.
You don’t want to meet someone like that.
Uniforms don’t win games. You don’t have to buy money for random girls to look cool. You can have fun in college without blowing your savings on booze and club entry. You can date without blowing your checks on the weekend.
Rule #4: You always have to live within your means.
“When you cut your expenses to the bone, you have a surplus. The surplus allows you to be generous, which mysteriously turns around and makes your surplus even bigger.” — Seth Godin
There’s big difference where you want to be and where you are when it comes to money.
Accept this. Don’t try to be a baller if you can’t afford to pay your cellphone bill. Don’t try to eat out frequently if you’re struggling to keep the electricity on.
Never forget your current financial situation. Don’t pretend to be something that you’re not. Buying business cards doesn’t make you an entrepreneur.
[If you’re in debt: How-to crush your debt!]
Rule #5: You don’t have to buy a damn home!
I could rant on this one forever. I won’t today.
You don’t have to buy a house in your 20s. It’s okay to rent. You can rent for as long as you want. Buying a home isn’t the next logical step when you start working.
Rule #6: You don’t have to marry the next person you lock eyes with.
Get out there. Date. Date lots of people. Have fun. Fall in love. Get your heart broken. Break some hearts.
You don’t have to marry the next person you meet!
“I would be so much further ahead if I never got married.”
This is what one of my most successful friends told me.
You can lecture me and try to find examples of successful couples. That’s cool. I’m not saying that this 100% perfect. Being single can get lonely at times. I get that.
However, I want you to have goals, plans, and dreams to chase.
[Read: The cure for boredom.]
Those are the secret money rules that nobody else will share with you. Save this page. Share it with a friend (mandatory). These are the secret rules of money.
You don’t want to be completely clueless on the unwritten rules of money. I learned all of these the hard way. You better respect these rules or we’re going to have problems.
“Education is an admirable thing, but it is well to remember from time to time that nothing worth knowing can be taught.” — Oscar Wilde