Money Myths: I'm too young to save! Money Tips, Tricks & Tactics #28.pdf
In today’s video we discuss the money myth, I’m too young to save! What’s your thoughts? Any ideas? Sorry to be the bearer of bad news, but as the saying goes “when your young, your dumb” it’s a common thought held by most of the older generations. Everybody who no longer considers themselves young anymore, can fondly remember the days when they were young and most likely careless with their money, spending it on clothes, games, cinema tickets, holidays, their first car and the list goes on. With little to no regard for saving a penny! But what if we didn’t follow this path, but instead had chosen to save and invest from a young age, what would our life look like today, would our current financial success be better than it is? So what do you reckon? Share your thoughts and ideas.
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Money Myths: I'm too young to save! Money Tips, Tricks & Tactics #28.pdf
- 1. MONEY MYTHS: I'M TOO YOUNG TO SAVE Money Tips, Tricks & Tactics #28
- 4. TODAY'S AGENDA Is it true? 1 The facts 2
- 5. TODAY'S AGENDA Is it true? 1 The facts 2 The problem 3
- 6. TODAY'S AGENDA Is it true? 1 The facts 2 The problem 3 What next 4
- 7. IS IT TRUE? No, it's not true. Your never too young to start saving, in fact it's one of the biggest regrets you'll ever have on your personal finance journey. The sooner you start saving, the more substantial your savings will be in the future, when you'll need it!
- 8. £1,000 per month x 120 months = £120k THE FACTS Did you know? £1,000 per month x 120 months = £120k 6 x £20k Deposits (25% BTL) 6 Houses @ £80k Each 6 x £250 Rental Income = £1,500 Per Month This is just from 10 years of saving £1k per month, so imagine if you were 18 years old, by the time you hit 28 years old, you'd be a professional BTL Landlord with 6 BTL properties paying you! Plus the capital appreciation... 1 6 BTL properties paying you 2 By the time you hit 28, you'd be a Professional BTL Landlord 3
- 9. The earlier you start, the earlier you'll arrive. The later you start, the later you'll arrive...
- 10. THE PROBLEM Most young people are too busy enjoying the money they have at their disposal, wasting money on entertaining themselves and those around them...
- 11. THE PROBLEM By the time they realize the mistake, they are no longer young... and then they have to play catch up!
- 12. WHAT NEXT So here's what to do next, now that we are clear regarding the money myth...
- 13. WHAT NEXT Start being responsible with our money and begin saving from young... 1 So here's what to do next, now that we are clear regarding the money myth...
- 14. WHAT NEXT Start being responsible with our money and begin saving from young... 1 So here's what to do next, now that we are clear regarding the money myth... Commit to making, saving money a part of your lifestyle without a predefined deadline... 2
- 15. ACTION ITEMS Your action items for today's video are as follows... 1
- 16. ACTION ITEMS Your action items for today's video are as follows... 1 ONE Starting from now, save £1k pm
- 17. ACTION ITEMS Your action items for today's video are as follows... 1 ONE TWO At the £20k mark, invest! Then repeat... Starting from now, save £1k pm
- 18. LIKE, SUBSCRIBE & SHARE Leave a comment below & I'll give you my 2 cents...