5 best decisions today’s youth can make to get ahead financially

There are decisions that you make every day, whether it’s buying a new shirt or starting your own business. All decisions, small or big can have a different impact on your future.

The biggest problem for young people is how to make the right decisions and choose which one is good or bad. If you choose the wrong choice, it’ll be late to it. But, there is some kind of pattern – people who made the same or similar choices and you can see what’s happened to them. The worst decisions that young people can make include debts, extravagant way of life, not saving and investing enough.

People consider these 7 decisions as the best for young people.

  1. Getting a degree

For most of the young people, this is the smartest decision they can make. The most of them are happy that they spend the money on it. A lot of studies have shown that young people with bachelor’s degree earn £1,137 per week on average, while people that have only a high school diploma earn £678 per week.

  1. Home purchase

More than 15% of people said that their best financial decision in life was buying a home. For many people, owning a home make them proud. And also, 29 % of people said that because they were unable to buy a home is a big disappointment and the biggest financial regret.

  1. Staying out of debt

For many people, living without debts is something that is a default, but for a lot of people, it’s a success. 13 percent of people are happy about living below their means in their twenties and 7% are satisfied that they stay out of debts in their 30s and 40s.

Living with your first income after the finished school can be hard, but it can be much harder if you want to live beyond their means and with accumulated debts.

  1. Investment

This decision is always on the list of the top financial decisions. But, only 7% claims that it’s the best financial choice they have ever made.

Keeping the money in the bank won’t make it grow, it’s only possible through different ways of investment.

  1. Having traditional career path

Only 6% of people claim that sticking with a traditional career is the best decision they have ever made. Maybe you won’t become rich with this way of earning ad working for a salary, but you can’t end up broke either, which is a requirement for a happy life of many families.

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