How To Make Money: 10 Things I Wish I'd Known Earlier

9 Money Things I Wish I’d Done Sooner Than I Did

I'm an ex-spendaholic, and I don't hide that. I still spend a lot of money, just more thoughtfully. Despite always having some financial knowledge and being fairly skilled with numbers for a creative, I didn't put my financial act together until I was 26. Here are 9 things I wish I had done sooner because the changes I've made over the past three years have significantly improved my financial situation and confidence.

1. Started saving for a property long before I wanted one

Although I haven't started saving until I was 25( almost 26), I still find it difficult to understand why I never considered wanting to eventually own a home. However, if I had, it would have been much simpler. I would have had a$ 6, 000 head start on my eventual property savings journey if I had started earning$ 20 per week when I was 20.

2. Built an emergency fund

Now that we have a$ 9, 000 emergency fund, I often think back on how crippled I felt when I worried about things like toilet leaks or car services. Even though paying for these things will never be enjoyable, the knowledge that there is money available helps.

 Be open to talking about money 

I believe it would have greatly benefited me if I had been more forthcoming when discussing money with friends and family. This, in my opinion, also applies to surrounding yourself with like-minded individuals who are willing to discuss personal finances and offer one another support. It has benefited me as well as my family and friends by using this blog, MissPersonalFinance Instagram, and bringing up these subjects with them.

Money can be replenished, health & wellbeing can not

Nothing else mattered besides my loved ones' health and love when things happened that caused them to become ill. In these circumstances, having an emergency fund and financial security are unquestionably advantages. However, these family-related incidents have made me realize how important family, health, and enjoyment of life are to me. These circumstances have also taught me to put my money first on experiences that make me happy and make memories, like traveling and spending time with loved ones.

Do not spend too much time saving just a little

Though I wish I had known this sooner, I've discovered that wasting a lot of time on just saving some pennies isn't really worth my time, hassle, or even my safety. For instance, if I had flown into Kyiv at 3am, I would have saved a ton of money on public transportation because it wouldn't have taken as long or as much time to plan my route instead of having to pay for it at such odd hours. This hasn't always been the case; when I first traveled alone, I always chose the less expensive( and frequently more difficult) route. Since taxi prices  are typically fairly affordable, I now hope to prioritize comfort and safety.

Passive Income

Passive income is money that comes to you naturally and requires little to no work on your part. This contrasts with active income, which can only be obtained by directly converting your time into cash. I've only recently started to become aware of the value of passive income and how important it is to do so. The following are some justifications for the significance of passive income and my desire to increase it: Less reliance on my 9– 5 pay, more diversification of income sources More money, including a house deposit and retirement, is available to invest in my future. potential for early retirement I might be able to schedule more time for my favorite activities.

Investing

This was going to be obvious, I guess. I wish I understood what investing was, how to invest, and how crucial it is to begin investing at a young age. A Stocks and Shares ISA would have worked much better for the majority of my money, but it was instead left sitting in a cash account. The impact of compound interest would have been slightly longer if investments had been made earlier. Check out these 5 steps you can take to start investing if you haven't already.