|Me in my 20s at Santa Ynez student housing. No doubt full of myself. Wasted hours at the UCSB recreation center gettin' buff. Look at my right pocket…that's a pager, remember them?|
The biggest financial mistake I made in my twenties, from the age of 20 to 25, was…
Suggested Money Move
Camp Rich or Camp Wealthy?
Start a Retirement Account, Pronto!
(put your answer here)
Invest Your Money Aggressively
Write down short-term, midterm, and long-term goals
Plan to Pay cash for Everything
Create a Budget that Supports Your Goals
Save an Emergency Fund
Pay off Your Debt
Skip Insurance You Don’t Need
Don’t Spend Your Money on Stuff you don’t Need or that Won’t Last
Forget everything society tells you a grown-up should do
This is why I recently developed the first ever money personality self-discovery quiz. After completing this short 15 question multiple choice quiz, you will know if you want be rich or wealthy, and whether you're a Spartan or a Roman. You'll also be able to interpret your results from the key and write-up of the underlying characteristics that make a person a Spartan (member of Camp Rich) or a Roman (member of Camp Wealthy).
|I will send this eBook to you for free when you subscribe to this blog.|
Here are some sample quiz questions:
- That’s life, I move on
- Karma is a bitch!
- It irks the shit out of meWhen I was little, a neighborhood friend of mine had a lemonade stand,
- What a weirdo, I thought at the time
- I won’t lie, I was a bit jealous he/she thought of it first
- And the lemonade was pretty darn good if I recall
I discovered I was a Roman at 25 one year into my teaching career, from a chance encounter, and I wish I’d known sooner.
- Become financially literate. Read books on securities investing, entrepreneurship, business, real estate, e-commerce, and if you’re really green, on how credit and financing work. Read this stuff like you’re in prison and have nothing else to do.
- Listen. Stop your yapping and listen! I talked way too much in my early 20s and didn’t listen enough to people. Don’t be afraid to be pitched or prospected by business builders. Even if you don’t think it is for you, you can learn sales techniques, oration, and what is out there that is being offered, from business builders.
- Be reflective about your money personality. Are you in college and have realized you are really a Camp Wealthy member? Oh boy! Is Camp Rich more like you? Either team is okay; just choose quickly whether you want to battle life holding a spear (Spartan) or a sword (Roman).
If you liked reading this, do me the honor of subscribing to this blog. I’ll send you my eBook, CCM: Financial Literacy for Educators and Other Professionals, which tells you what I was up to in my late 20s and early thirties that helped me become the person I am today, PLUS two other eBooks including, Do I Want to Be Rich or Wealthy? Checkmate!
My friends (not kidding, I have friends there) at Personal Capital know a thing or two about managing wealth in the Internet age. Check them out, and their free net worth calculator!