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1. Start Small, But Start Now
👉 In a Nutshell: Even $5 today beats $0 next year.
You don’t need to have it all figured out.
☝️ You just need to start.
Think of it like working out. You won’t get abs after one push-up, but you’ll get closer than doing nothing.
Same with saving.
Even $5 a week is better than waiting for “the perfect time.”
↪️ Here’s How You’ll Do It
Step 1: Open a High-Yield Savings Account: Choose one that has no fees and gives you interest.
Step 2: Set Up Automatic Transfers: Move $5–$10 every week from checking to savings.
Step 3: Increase the Amount Slowly: Add $1 more every month as your income grows.
2. How Much You Should Really Be Saving Right Now
👉 In a Nutshell: Aim for 15% of your income. but don’t freak out.
Don’t get stuck on the “perfect” number.
If you’re saving anything at all, you’re ahead of most people 😌
But here’s a quick tip. If you can save 15% of what you make, you’re setting yourself up real nice.
Can’t do that yet?
Start with what you can and build up. Just like leveling up in a video game.
↪️ Here’s How You’ll Do It
Step 1: Check Your Monthly Income: Write down what you make after taxes.
Step 2: Calculate 15% of It: Multiply your income by 0.15 to get your savings goal.
Step 3: Adjust Based on Your Budget: If you can’t hit 15%, just start where you can.
3. Choosing Between Roth IRA and 401(k) in Your 20s
👉 In a Nutshell: Use both if you can. Roth for flexibility, and 401(k) for the match.
This is like choosing between two free meals.
😄 One’s delicious now, the other’s saving you leftovers for the future.
A Roth IRA lets you pull out your own money later with no penalty.
A 401(k) gives you free money from your job if they match.
If you can’t do both, go with the one that gives you free money first.
↪️ Here’s How You’ll Do It
Step 1: Ask Your Employer About 401(k): If they offer a match, sign up and contribute at least enough to get the full match.
Step 2: Open a Roth IRA: Use a legit platform like Fidelity, Vanguard, or Charles Schwab.
Step 3: Add to Roth IRA Monthly: Even $50/month gets the compounding going.
4. Automate Your Retirement Savings
👉 In a Nutshell: Set it and forget it. No brainpower needed.
Saving is easier when you don’t see the money 😉
If it goes straight into your retirement before you touch it, you won’t miss it.
This is like hiding your cookies so you don’t eat them all in one night.
No temptation, no stress, no forgetting.
↪️ Here’s How You’ll Do It
Step 1: Log Into Your Retirement Account: Go to your 401(k) or Roth IRA dashboard.
Step 2: Set Up Automatic Contributions: Choose a dollar amount or percentage to go in each payday.
Step 3: Double Check It Once a Month: Just make sure it’s still running and nothing got paused.
5. Let Compound Interest Do Its Thing
👉 In a Nutshell: The earlier you start, the less you have to save later.
Compound interest is like planting a mango tree.
You drop one seed and years later. Bam. You’re swimming in mangoes.
Your money grows on top of itself when you give it time.
The trick?
Start early, and let it cook 😁
The magic happens when you leave it alone.
↪️ Here’s How You’ll Do It
Step 1: Start Investing Now: Even if it’s just $25 per paycheck.
Step 2: Don’t Pull It Out: Leave it alone so it keeps compounding.
Step 3: Track It Once a Year: Watch how the numbers slowly snowball.
6. Invest in Low-Cost Index Funds
👉 In a Nutshell: They’re boring. But they work.
You don’t need to pick stocks or read the Wall Street Journal every morning.
😏 Index funds do the work for you.
They follow the whole market and usually grow over time.
Think of it as betting on the whole team, not just one player.
Slow and steady. And cheaper fees = more money for you.
↪️ Here’s How You’ll Do It
Step 1: Choose a Brokerage Account: Open one with no minimums and low fees.
Step 2: Pick an Index Fund (Like S&P 500): Choose a fund like VOO, VTI, or FXAIX.
Step 3: Invest Monthly: Put in whatever you can on the same day each month.
7. Avoid Lifestyle Inflation (Even With Raises)
👉 In a Nutshell: Don’t spend more just because you make more.
It’s easy to level up your lifestyle when your income goes up.
You get a raise, and suddenly your food orders are fancier, and your rent gets higher 🤭
But if you keep your expenses the same, that extra cash builds wealth.
Future you will be so glad you didn’t blow it all on $19 smoothies.
↪️ Here’s How You’ll Do It
Step 1: When You Get a Raise, Pause: Don’t upgrade anything yet.
Step 2: Redirect Half the Raise to Savings: Put 50% into retirement or investments.
Step 3: Keep Living on Your Old Budget: Let your money grow, not your lifestyle.
8. Don’t Wait to Learn About Money
👉 In a Nutshell: The earlier you learn, the richer you get.
Most people learn money stuff way too late.
But not you.
You’re here, reading this, which already puts you ahead 😎
Money doesn’t have to be scary. You just gotta start asking questions and keep learning.
Hi! I'm the founder of Money Vice and a passionate personal finance enthusiast.
Here we love to talk about money using a unique type of blender, where we combine juicy chunks of money lessons, slicing them into bite-sized steps, and sprinkling some South Florida vibe for that little zing! (the perfect cocktail to learn how to stack cash to achieve financial independence).
