This is the first time we were compelled to actually directly respond to an opinion piece as a whole radio show episode. But Elite Daily’s click-baity title, “If You Have Savings in your 20’s, You’re Doing it Wrong,” was hard to pass up 🙂
I can see the appeal of the article and the outrage it caused. If you don’t have savings in your 20’s, this article justified that. If you do have savings, you’re pissed because the writer just called you boring, old, and lame.
The most frustrating thing about the article and the comments was it made you feel like you could only do one or the other.
You’re either spending every dollar and declaring savers are boring or you yelled compound interest in all caps and called the writer an idiot.
Here’s what’s really awesome about your 20’s:
You have time to try tons of things and really figure out what matters to you. Switch jobs every year or two; hell, switch careers if you feel like it. Make sure you try freelancing for at least some period of time to see how you like it. Volunteer for causes you care about. Connect with people without feeling like you need to do business.
Now, can you turn the things you realize you love doing and turn them into something you get to do all the time and get paid for? Now is the time to figure that out!
You can seize opportunities as they come. Saving shouldn’t feel like a chore. If it does, you are doing it wrong. Saving money isn’t just about working towards a goal or taking care of ’emergencies’ or being cautious.
You want to be able to say yes to up and move to a new city next month or take a once-in-a-lifetime trip or quit your job to do something you really care about.
Having money in the bank means you can choose to take opportunities as they come without wondering about your financial situation before you say yes.
You should be open to taking risks, but not just in your 20’s. Developing a savings habit in your 20’s teaches you how to plan for risks.
When you learn how to balance risk and opportunity, you can take risks your whole life based on what you want it to look like.
At the end of the day, it’s all about mastering your cash flow. It sounds way fancier than it actually is. Knowing your cash flow means is know what’s coming in and what’s going out now and what’s going in and what’s coming out later.
I will leave you with the wise words of my friend, Conscious Walker: “Money is a meant to be moved around, it’s a current. That’s why it’s called currency.”
What did you think of the Elite Daily article? Would love to hear how you’re mastering your cash flow 🙂 Check out our response on the radio show below: