First, a few words about me. I’m Sanjay L., a digital marketer and the founder of thesanjayl.com a blog focused on finance, business, and money.
I share my experiences and insights on building my businesses. Let’s connect and grow together!
If there’s one thing I’ve learned in my journey through finance and business, it’s that the earlier you start managing your money, the better.
But in my Early stage, I was clueless about what I should be doing with my finances. Looking back now, I realize how different things could have been if I had known a few simple hacks.
Let me share with you the top five finance hacks I wish I had known back then.
1. Pay Yourself First
When I first heard the concept of "pay yourself first," I didn’t fully grasp its power.
The idea is simple: set aside a portion of your income for savings or investments before you spend on anything else. You’re ensuring your future self is taken care of.
If I had done this in my teenage, I would’ve built a solid financial foundation much earlier.
Start with even 10% of your income, and trust me, you’ll thank yourself later.
2. Invest Early and Often
The earlier you invest, the longer your money has to grow.
I spent too much time thinking investing was too complicated or risky.
The reality is, by starting small with low-risk investments like index funds, you can make your money work for you over time.
Compound interest is a game-changer—if only I had understood that sooner.
3. Understand Credit—And Use It Wisely
I didn’t fully understand how credit worked. If you understood the importance of maintaining a good credit score, You could’ve saved a lot on interest and loans.
Don’t be afraid of credit, just make sure you’re using it to your advantage.
4. Live Below Your Means
This one sounds simple, but it’s a tough habit to develop.
Just because you’re earning more doesn’t mean you should spend more. I often found myself upgrading things unnecessarily—fancier gadgets, more expensive clothes.
What I should’ve been doing was saving and investing that extra money.
5. Side Hustles Are Not Optional—They’re Essential
I wish I had started a side hustle earlier. Whether it’s freelancing, blogging (like this), or selling a product online, having an additional income stream is crucial.
It not only helps you diversify your income but also opens the door to financial freedom.
Conclusion: Start Now
The biggest mistake I made was thinking I had time to figure it all out.
The truth is, the sooner you start implementing these hacks, the better off you’ll be in the long run. Pay yourself first, invest early, be smart with credit, live within your means, and never underestimate the power of a side hustle.
These are the lessons I wish I had known in my earlier so take them to heart, and start today
This article not only shares my personal journey but also gives you actionable steps to improve your financial future.
The earlier you apply these principles, the more secure your financial future will be.
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