1. Listen to your Grade 10 history teacher.
In 2008, during the recession of our time, your teacher will talk a lot about the stock market and how it’s important to invest when you’re young. You're going to think it's not relevant to you but I wish you'd take her advice to heart and start early, even with the little money you have from working part time so you can tap into the power of compound interest.
2. Do you really need to go out for food? You have a meal plan included in your residence.
I’m sorry Mom & Dad. You worked so hard to provide me with the opportunity to go to university and live away from home. There was always money transferred to my account for me to use but I wasted a lot of that hard-earned money by being somewhat frivolous with my spending.
3. Negotiate your salary on your interview!
I’ll touch on this in a future post.
4. Don’t go for the brand new car.
New vehicles lose their value as soon as you drive it away from the dealership and most are worth 20-30% less after the first year. Save yourself that cost and get a used car that’s 1-3 years old since you have debts to pay.
5. It’s great that you opened a TFSA and that you’re depositing money to it regularly, but did you know you can invest that money? Open a brokerage account please!
6. Don’t feel pressured into buying $300+ worth of essential oils kit.
Not just this but every other purchases you feel pressured to buy in order to please other people. It's okay to say "no" because your goals and wants are unique to you.
7. Follow up about getting your licensing fee and professional liability insurance paid for.
When your employer says that money is tight, but that he could do something later on, he means it. He's likely waiting for you to bring up the subject a month or two afterwards.
8. I know the packaging is cute but it’s just going to stay in your storage bin. The sooner you learn to be more intentional with your purchases, the sooner you'll reach your financial goals. Both your wallet and mental health will thank you.
9. Stop watching makeup videos YouTube (or at least keep it to a minimum). Understand that these beauty gurus are doing their job. You don't need to get every single product they recommend.
10. Girl, sign up for Rakuten!
At least get some cash back when you're shopping.
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