Getting your driver’s license was a liberating milestone worth celebrating because it meant you no longer needed your parents to drop you off at work, or it meant that your friends didn’t need to pick you up to hang out- you had some freedom to do what you wanted! It was a period of life that was likely accompanied by significant change that we can only truly appreciate in hindsight. And as fun as it was to drive on your own for the first time, graduating high school or college is an even more momentous occasion that comes with the ability to change your trajectory in life. Or to even chart a new course that’s completely different from the one you’ve been on- in a way it’s a fresh start. And this extends to money as well because if you follow the right advice at this critical juncture, you have the ability to drastically change how your personal finances are going to look just 5 or 10 years from now. You could end up loaded with debt or you could be well along the path towards financial independence. But one of the problems is that we often don’t have a plan when it comes to our finances. So that’s what we’re discussing today: the relationship between time and money especially when you’re younger, using your money to minimize regrets, upgrading your life on purpose, and the most time-tested ways to invest your money.

Additional links:

  • Wait But Why – Here’s that post by Tim Urban: The Tail End.
  • Goals – Check out the worksheet we created to help you create your own Money Mission Statement! Download it, and give it a solid 30 minutes one evening to really begin some soul searching to determine what you want your life to look like.
  • Investing – And of course we touched on investing during this episode- listen back to how we invest our money with brokerages like Fidelity, M1 Finance, and Vanguard.
    • If you’re not already investing in tax advantaged accounts, listen to why we think you should start with the beautiful Roth IRA.
  • Credit Card Tool – Looking for the right credit card for you? Then check out our new credit card tool that’ll help you to easily filter through all the cards based on your preferred airline, whether or not they have an annual fee, or simply by the cash back offer! Just toggle the sliders and you’ll know which card to consider.
  • Newsletter – Don’t forget to sign up for the best personal finance newsletter in all the land! It’s completely free and something we create to help you along your journey to financial freedom. It drops every Tuesday morning and you can always unsubscribe if you don’t dig it!

During this episode we enjoyed The Taken by Casa Agria x There Does Not Exist! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

Best friends out!

* Advertiser Disclosure: How to Money has partnered with CardRatings for our coverage of credit card products. How to Money and CardRatings may receive a commission from card issuers.
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