By the time you get into the mid 20’s you’ve finished college and entered the rat race. You start earning real money for the first time in your life and it can be intimidating at first to handle it all. Basically you are a still a kid who pretends to be a grown up so it is easy to waste away all the money you earn in the early part of your career. It is a normal learning process and slowly you’ll learn how to handle money better. There are certain things that you should spend money on before you hit 30 because it will be harder to do all this later on in life. So here are the top 10 things you should spend money on while you are still young.
10. A Washing Machine:
As soon as you start earning and start living on your own, the first thing you should buy is a washing machine. Trust me, you’ll thank me later. Living on your own is fun but quickly you’ll find that there is no time to do all the things you need to do to keep the house running. You’ll wonder how your mom kept the house running without going insane. At such a time a fully automatic washing machine with a built in dryer will be your best friend.
9. A Motorcycle:
You’ve always wanted to buy that motorcycle and go on a country wide road trip but when you had the time you didn’t have the money. It might seem that now when you have the money you don’t have the time, but buy a motorcycle before 30 because if you don’t do it now, you might never do it. This will be a mistake and you won’t use it as much as you’d have liked and you’ll end up selling it after a few years but still go ahead and make this mistake. You’ll be glad you did later on in life.
One thing to spend money on before hitting 30 is a gym membership. If you are earning enough to build a home gym, that’s even better. Don’t try to save money by compromising on fitness. If you become fit early in life, the later years will be much better. It is easy to stay fit if you have exercise equipment such as cycles, weights and joggers. Even if you don’t get time to use all these things, just think of them as an investment in your health and buy them.
Buy as many books as you can buy and also remember to read them. Don’t just buy books to fill up the bookshelves. Books will teach you more than what you’ve learned in college. Develop the habit of reading and it will help you through out your life. Spending money on books is never a mistake and you should do it even after 30 but make sure to buy and read as many books as you can before 30.
Many young people think that donating money to charity is a waste and only left for those who have passed their prime and are successful enough to give away money. But the truth is that you can and should always do charity no matter how old you are. If you don’t have money, volunteer and donate your time or just donate old stuff you don’t use anymore. It’s good karma.
5. Loved Ones:
Remember to spend money on your loved ones. Buy them gifts and spend time with them. You are young and single and it is a great time to pamper your loved ones and strengthen the bond with your family. Don’t stay selfish and only think about yourself. Remember that it is important to spend both your money and your time to show that you love someone.
House prices keep increasing every year and it is getting harder and harder to buy a house. But property is a very good investment especially if you buy it with that in mind. Don’t try to buy your dream house that you’ve always wanted to own. Buy within your means and think of it as an investment. If you buy property and then give it on rent it can also earn you extra passive income.
Before you are 30 spend as much as you have to on your education. Education will help you earn more in the long run. But education doesn’t necessarily mean only college degrees. Learning a basic skill is an education. Learning to cook, to dance, to speak a foreign language etc. are all part of your education. When you are young it is easy to learn new things so spend as much as you have to.
Weddings can be expensive. When you are below 30, your spending is less and you can afford to have a lavish wedding. Of course do this only if you already have someone you want to marry. There is no point in rushing a marriage just because you have the money right now.
The most important thing you can spend money on before 30 is travelling. Those who don’t travel, never give themselves the chance to grow. Staying in one place all your life is like reading only one page of a book. So take the time to travel around. Take work opportunities that allow you to travel. Don’t be shy of spending money on travelling.