Financial advice I wish I knew growing up that would have helped me today
Starting your financial journey can be daunting, so here are a few tips to help you get started!
TL;DR
● A credit card can be a powerful tool if used responsibly. By building your credit, you can enjoy benefits in the future while also enjoying rewards in the present. Win win.
● Budgeting isn’t restrictive. It gives you freedom. Even small monthly savings can add up to thousands over time that can be put toward your future
● Think of purchases in terms of hours worked, not just dollars spent. It makes you more mindful and curbs impulsive spending
● It is never too late to start your financial journey. If you haven’t already, the best time to start is now
At 18, I thought I had it all figured out. Unsurprisingly, I didn’t. I spent money on cigarettes just to look cool, blew my allowance on junk food, and treated finances like it was something adults had to worry about, not my angsty teen self.
The truth? Nobody really taught me about money. Not my mom or even my school. If you’re nodding along, you probably didn’t have anyone to give you financial advice either. That’s why I want this blog to be the sign I never got. A friendly nudge to start your financial journey today, not years from now.
These tips will help you avoid making the same mistakes I did. Whether you’re just starting out in college or already deep into your career, it’s never too late to start building your financial future.
Think twice before you swipe
If I could hand my 18-year-old self one thing, it would be a credit card. A credit card would have taught me how easy it is to dig yourself into debt by spending more than you have. It would have also shown me that there are rewards to being financially responsible, especially at a young age.
Getting a credit card when you turn 18 is a smart move. It helps you build a credit score/history early, which comes in handy later for things like loan approvals, mortgage applications, or even renting an apartment. They also have sweet rewards that incentivize responsible ownership like cashback, rewards points, and travel perks.
The golden rule of owning a credit card is simple. Pay it off in full every month or as soon as you get your paycheck. If you can’t, don’t swipe. A credit card is a powerful tool, but only if you control it, not the other way around!
Think outside the lunchbox
When I started university, my parents gave me a $500 monthly food allowance. Sounds generous, right? Except, instead of buying groceries and learning how to cook, I spent it on pizza, chips, and soda. By mid-month, I was broke and surviving on instant noodles until the account was topped up.
Looking back, I cringe at how much money I wasted. The average student spends around $250–$400 on groceries each month. If I had just budgeted $250 for food and saved the rest, I could’ve stacked up over $12,000 by the time I graduated. That’s money I could have put toward a down payment on a house, invested in stocks, or put in an emergency fund.
The lesson? Budgeting isn’t about restriction. It's about opening doors and creating breathing room. By knowing where your money goes and putting some of it aside, you’re giving yourself more options down the road instead of scrambling when things get tight.
I didn’t start budgeting until after university. While I regret not starting sooner, I am thankful I at least started. Otherwise, I wouldn’t have the funds I do now to put toward my family, buying a new car, or finally booking a trip to Japan.
If time is money, how valuable is yours?
Back in university, I frequently dropped $50 on pizza nights without thinking twice (all for myself, by the way). That’s five hours of sweaty, back-breaking labour at my old summer job at a garden center. Five hours of lugging soil bags around and talking to people about plants. All for a single night of binge eating that I always regretted after.
When you frame money in terms of time, your perspective changes fast. That $200 pair of sneakers? Maybe it’s not “just $200.” Maybe it’s 10 hours of your life at your current job. Is it still worth it? Sometimes yes, sometimes no. But asking that question forces you to think twice before impulse spending.
This mindset shift helped me stop taking money for granted. Even now, before I buy something, I always ask myself: How many hours of work is this really worth? It’s a small habit that can save you from a lot of regret later.
What are you waiting for?
My financial journey so far has been a rollercoaster of ups and downs. From tripling my investments to spending more money than I had on a crush, I have been there, done that. I have learned a lot along the way, like using my credit card responsibly and building my credit, budgeting, and valuing my time wisely. All of these tips have helped me grow and make the most of the money I have today. So what are you waiting for? Use these tips to kickstart your financial journey!