This Week's Question: What Financial Advice Would You Give Yourself at 18?

This question isn’t directly forex-related but it still has something to do with managing money, something pretty crucial when you’re interested in trading forex.

What financial advice would you give yourself at 18?


Do not open any credit cards, no matter what anyone tries to tell you about “building credit”.
Save 20% of each paycheck, each week automatically.
Explore as many educational scholarship opportunities as possible - (to avoid student loans).
Learn about long term investing in preparation for retirement.
You don’t truly ever buy alcohol, you only rent it.

I can keep going, but will stop now- haha :slight_smile:


Learn about the basic financial system.
Invest in funds.
See that “Bitcoin”. No it is not expensive at £50. Buy it now!!!

(I would not actually tell myself anything in the past otherwise i wouldn’t be the person i am today)

Seriously, this. But a lot harder to do in reality. Unless you’re making a certain threshold of income, this is just a really difficult thing to do for most people.

For me it would be to read up and actually learn about personal finance. When I was 18, nobody was interested in this thing, people wanted to party and spend money!


Join a financial services company. You’ll either love it or hate it - but you will learn about financial matters.

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At 18 get a job, work hard, save, don’t waste your money on frivolous things and don’t expect someone else to pay your way for you. There are and should not be any free lunches.



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never fall prey of being “extremely fashionable”. You will just end up losing good chunk of your money. Instead, save that money and start investing in something with returns. Being fashionable will not get you any money in long run. If you continue spending so much on how you look, you will end yourself in debt. Learn to distinguish between requirement and unnecessary things. This is the base of money management for everyone.


Start investing as much as possible in the stock market for retirement, either directly or through a pension scheme or both. Aim to never touch this money again.

Buy a house as soon as possible.

Live in areas where the job market is expanding.

Don’t leave a job until you have another job to walk into.


Buy Bitcoin! lol

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Seriously though, I would say to start a savings account and a pension.

Not everyone is fortunate enough to have a source of income at 18. Even so, I would suggest being financially independent as soon as possible and keeping a portion of your savings for investing.

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Buy spx500

I will tell myself that-

  1. Whatever your biggest desire is, it is achievable.
  2. You just need to move in the right direction. Mindset is all it takes.
  3. Big things are done with big vision.
  4. In life time is money, you can give up on your money for once, but never give up on your time.
  5. Never hesitate to express your opinion.
  6. At last- you have all it takes, its within you. You are awesome!!!

Give generously. The rest will sort itself out from there.


“By the inch, it’s a cinch. By the yard, it’s hard.”
Save a little every month.


Don’t waste your time with college/university if you don’t want to become a doctor/lawyer/accountant.

Learn about investing/trading.

Find an industry you love, work in it, learn how it works then go out on your own

Build and “emergency fund”

Read “Rich Dad Poor Dad”


Ananais, this is an excellent question.

I would say to myself REMEMBER the concepts of interest payments, compounding interest, future rise in incomes and the Retail Price Index (cost of living) forecasts, and opportunity costs - which one should have learned at the school. Use it. There is an Indian saying: Tipe Tipe Sarover Bharay - meaning a pond is filled with water by a drop by drop (over time and catchment area).

If I had $500 and invested it in trading account trading the wall street index spot market for a 1% per day return, I could have been a millionaire at the age of 22!.

I don’t think borrowing money and investing is bad at all - after all banks gets cheap money by paying a little or no interest to Peter and loans his money to Paul (both are my friends) at higher interest rate, netting the difference as profit - just like GBPJPY carry trades.

In your youth years in life, you don’t earn a lot of money compared to growing day to day for living expenditures in competitive environment with your peers - and under pressure to keep up with them so you may need to borrow money. It is often the case that you don’t have enough money at early stage of your life to meet your obligations and provide basic needs for family compared to income / expenditure later stage of the life. So it is understandable (and unavoidable) to spread the cost over a longer period by some borrowing on the basis of above mentioned concepts and being sensible about it (using sound discretion) - like a business owner with a plan.

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Invest earlier, time in the market > timing the market.


Stop spending money on useless things. Invest.