Youth is a productive time to work hard to earn money. You may even have a target to have this and that which you must achieve when you are young.
You may also be more motivated when you see your peers who have achieved a lot. Like already owning a private car, already building a house, even having investments everywhere. The estuary of all these efforts, of course, they want to be rich at a young age.
Efforts to maximize income to get rich at a young age may fail if you still have extravagant habits. Not only extravagant, the following little habits slowly kill you to get rich quick. What are the habits in question?
Waiting for a lot of money to start investing
One of the bad habits in financial management that is often done by young people, according to CNBC, is procrastinating on investing. They tend to wait to have a lot of money before starting to invest.
Even though you don't have to wait for a big salary to start investing. You can start investing even though your income is still mediocre. Because there are many types of investments that can be followed with a small budget. Just make sure the investment you are following is legal and clear!
Often Buy Contemporary Drinks
Well, today's snacking of drinks is one of the habits of young people, which may look natural but is extravagant, you know. Just imagine if every day you drink modern coffee for $ 1, then in a month you can spend almost $ 30. Even though that amount of money can be used for investment.
In addition to buying contemporary drinks, you may still like to snack at cafes to indulge your prestige. Every now and then a week might not be a problem, but what becomes a problem if you go to the cafe every day even though your income is mediocre. So don't be surprised if in the end you find it difficult to get rich at a young age.
Not Recording Expenses
One of the mistakes that young people often make is not recording expenses. You may often wonder, where does the salary money go when you feel you don't spend a large amount? It could be because you don't record expenses, so you have a hard time keeping track of where your money is going.
Therefore, do not forget to record expenses because it provides several benefits. Launching from The Balance page, by recording expenses you can determine priorities, control expenses, and can achieve your financial goals faster.
Busy Unproductive
You may be the type of person who is busy, but think about it, is your busy being busy that is productive? If not, then you need to change your busy life with more productive activities. Don't just be busy hanging out here and there but instead spend a lot of money.
You need to consider being more productive in order to increase income such as by looking for a side job. You can also upgrade yourself by adding skills that can support your work.
Well, if you want to be rich at a young age, then stay productive.
