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What something you wish you had done during your 20's?
(kbin.social)
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this post was submitted on 11 Aug 2023
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I think better advice would be "invest/save" in general. You could just throw money into a mutual fund, index fund, savings account, whatever. If you get a job with an employer matched 401k, max that out. I don't think you need to worry about trying to play the stock market by buying individual stocks. You'll end up spending way too much time doing it for minimal gains over an index fund, and a lot of the time you're just basically gambling on what companies you think are going to do well.
I want to piggyback on this, if you are in your 20s now, or any age really, if you are willing to do online-only banking and have a good size monthly payday deposit some online banks like Discover and Ally will offer 4% APR savings accounts, that is unheard of at places like Bank of America that were only offering us 0.1% APR on savings accounts.
If and only if you are good with money and won't go crazy, buy everything with a decent APR rate credit card and pay it off at the end of the month. We buy gas and only gas with a credit builder card after screwing up in our 20s, it's helped tremendously and credit scores can affect everything you do from insurance rates to job offers.