10 - Invest Early
If you get started early, your money will have more time to grow. You don’t have to start by investing in the next big thing, just put some money away for the future so you can start rolling with the interest.
9 - Embrace Change
The numero uno, the head honcho of money secrets: don’t worry too much about change. In fact, change spurs growth, so embrace it. It can be risky, but risk pays big rewards. Don’t be too gung-ho about it, but embrace it, because it’s happening anyway so why not profit from it?
8 - Stay Positive
It can be easy to panic when the market takes a turn for a day or even a week. But it’s an important money secret that the market turns like a steamboat. Focus on the bigger picture, and you’ll have a bigger payout.
7 - Trust Father Time
In keeping with staying positive, trust time. Long-term investments are just that, long-term. They’re like children. You can nurture and take care of them but don’t expect them to change overnight. Soon enough you won’t even recognize your small investment.
6 - Stay Out of the Red
Ok, so your parents might have actually told you some form of these money secrets, but they’re so important that they bear repeating. Spend less than you earn and stay out of debt. After all, you won’t have anything to invest if you spend all of your extra money on growing credit card bills.
5 - Spend Smartly
Budget budget budget; another one that’s a cliche for a reason. Know what you spend your money on and make good investments. This goes for everything from your savings account to your toaster.
4 - Wear Things Out
Speaking of toasters, they contain some valuable money secrets. Maybe not literally, but if you buy a good toaster when you’re 20, make it last until you’re 30. You don’t want to be spending your vacation savings on toasters every year, do you?
3 - Plan Ahead
As far as money secrets go, this has to be at the top of the pile. Plan ahead. Six months, six years, six decades. It’s the big picture, and while you can’t predict the economy six hours from now, let alone sixty years, you can put some money aside, just in case.
2 - Learn from the best
What did Warren Buffet do? How about Bill Gates? These are some of the richest men in the world, and while you don’t have to copy them exactly (nor can you) you can take a look at their overall philosophy and glean a little something for yourself.
1 - Money isn’t everything
While money secrets can help, and your finances are certainly important, money isn’t everything. If you make a bad choice, or the market doesn’t exactly swing your way, don’t panic. If you’ve diversified, you haven’t lost everything. If you’ve lost everything, you still have your health, or your family, or chocolate, or whatever.
There aren’t any money secrets that will cover everything, but hopefully, these can help you plan for your future in a responsible way. A little confidence means a lot when it comes to finances, and nothing inspires confidence like success.
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