Sure everyone says at one point that they wish to go back to their younger self and give a word of advice that they wish they would have done. Whether it was not to be shy asking someone on a date, taking a different career path, or moving out of state, those days may be gone, but when it comes to personal finance, it is never too late to get ahead of the game and plan for your future. If you are in need of improvement, there are plenty that can be done that you will thank yourself later on.
Stick to your Budget
It takes discipline with plenty of spending willpower when it comes to having a successful budget. Since only a third of Americans have a budget, there are plenty that are throwing caution into the wind when it comes to their future. Analyze all money coming in and going out, and do your best to remove any unnecessary spending.
Credit is what lenders look at the most when it comes to granting approval, so if you are in the market for a mortgage, loan, or credit card, the lower the credit you have the higher you will pay in interest each month, so pay down debt to zero and make payments on time every month. If you need help in this area there is no shame there. Just hop online and read some Creditrepair.com reviews so you can find a reputable company to assist you.
A savings account is usually the last thought of what you would like to spend any leftover money on, but instead of the next impulse purchase, set up a direct deposit to a savings account each month so it will eliminate the urge to blow any extra cash leftover at the end of the month.
Get a 15-Year Mortgage
Sure the monthly payments will be higher, but with a lower interest rate than a 30-year, and more going to principle each month, you will build up equity in no time, and in half the period will have the entire house paid off to enjoy into your golden years.
Save for Children Now
It is not out of the question that you will have spent a couple hundred thousand on a child by the time they turn eighteen, so why not start saving as soon as you find out you are pregnant. By the time you have a newborn you could have a few thousand to start off, as you will need it.