10 BEST pieces of FINANCIAL ADVICE for 18- to 30-year-olds

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10 - Do not buy a new car

A car is a depreciating asset.  In the end, you pay more in taxes, fees, and interest.  New cars lose roughly 20% of their value in the first year, while some lose up to 50%.

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9 - Buy index funds or ETFs

You don't have to pick stocks to build wealth.  Too many people are losing money in the stock market due to a lack of knowledge.  Buying index funds that replicate the market will help you build wealth.

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8 - Plan your future

There is no way to achieve financial success without planning. Projecting yourself into the future keeps you motivated to work hard to achieve your goals. Think about it, work on it, and it will be yours.

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7 - Do not spend too much on luxuries

It's okay to treat yourself from time to time.  Spending money on luxuries that you cannot afford is a problem.  Develop the habit and discipline of not buying everything that you see.

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6 - Invest in yourself

Investing in yourself means:   - Read books  - Eat healthily - Develop skills - Be in shape  - Take care of your mental health

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5 - Save early

Don't put off saving money for the future. Start with what you already have. The sooner you get started, the better.

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4 - Avoid debt

Debt has become acceptable in today's society. However, most people are unaware of how damaging they can be to your finances.

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3 - Build an emergency fund

It helps to:   - Take care of any unexpected costs  - Provide peace of mind  - Keep you from making bad financial decisions  - Keep you from going back into debt

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2 - Prioritize your health

What is the point of accumulating wealth if you are not healthy? Above all, prioritize your health. Adopt healthy habits to maintain your physical and mental well-being.

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1 - Avoid impulse spending

Impulse purchases can derail even the best-laid financial plans.  If you can't control your impulses, you'll end up with credit card debt, which can ruin your finances.

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