Sometimes you really don’t have the time to spend 5 minutes reading mantra of how to live a debt free life, or how to start, so let’s keep it really short here.
Pay off your credit card debt. Nothing you invest you will consistently give you more than 10-20% returns, not even Warren Buffett, the investment guru.
So if your credit card debt is hurting you at 25% interest rate on your spend, pay it off. Feel good about it.
If you lack discipline, like me, schedule a payment that is automatic from your paycheck to your credit card and use a debit card.
Stay with your parents or Share a room
Yes I said it. the unthinkable. Stay with your parents. You will have so many benefits and it gives you plenty of time to save up for a startup business, or invest your money before renting. If you have to rent, think about room sharing.
Buy Used Cars and learn to maintain it.
Learning how to spot and maintain a car has been the best investment I ever made for myself. It has time and time again saved me money from buying lemons, and also helped me maintain my old car, keep it running and prevented me from changing cars. Most Millionaires are driving cars that are 5 years or older.
Change your friends
If your friends love to spend money and hanging out with them caused you to overspend, change your friends. Join an investment club or one of those FIRE Club (Retire Early Financial independence club). There should be no shame in wanting to save extreme amount of money. You will be surprised how many successful people are successful because they ditched their friends. Your peers are your averages, you become what they make you to be.
Get a Scholarship or Go to a Cheap Community or Online college.
You can learn almost everything you want online nowadays. Even medical school, you can pre-learn online (so you have better chances of passing).
Learn your skills online, instead of paying for expensive college.
College degree is not worth the $300,000 student debt loan you are going to take on.
Start Working before going to college
Work experience trumps college. Don’t be the millions who graduated with a degree and no work.
That’s it. You got it all.