- With each succeeding generation, the educational and career expectations increase. This delays the start of marriage, family and home ownership.
- Nearly half of 20- to 29-year-olds have debt today, compared to just 17 percent of 20-somethings who had debt in the 1980s.
- Long-term coddling by parents, colleges and society isn’t helping young adults move faster to financial independence.
- Achieving financial independence isn’t only about money and careers; it’s a shift in one’s mind-set.
- Controlling your mornings, conquering your afternoon chaos, and concentrating on what matters in the evening will make you more productive than you ever thought possible.
- Structure in the workplace is extremely important, because it allows us to get things done efficiently and minimize distractions.
- Try to rise and go to bed at the same time every day, limit email usage, give yourself 15 minutes extra in the morning and tackle your toughest tasks first thing.
- Stagnant wages and large student loans have made it difficult for many young people to move down the road toward full financial adulthood.
- But there have never been more ways to supplement your income with freelance, independent contractor work.
- Freelance, independent contractor networks can be a great backstop for sudden job loss and for keeping your skill set up to date.
- Money is just a tool, and you always want it working in your favor.
- Saving keeps you from making bad, hasty money decisions and gives you room to breathe and think.
- Be selective about your friends, embrace long-term planning, maintain positive cash flow and create a “money avatar” for yourself.