14 money tips you’d give your younger self

Our readers share the handy hints they wish they'd been given in their youth.

What lesson would have helped you better manage your finances in your younger years? Perhaps you would’ve set up a budget, had an emergency fund, saved earlier or cut back on the weekend splurging?

We asked readers to share with us some words of wisdom that may have helped them earlier on in life.

What you would have told your younger self

  1. Make a budget and monitor what you spend. It’s surprising how little things add up. 
  2. Don’t move out of home just yet. Stay another year or two and save some money.
  3. Put $25 away each week and increase the amount with each salary increase.
  4. Don’t take up every credit limit increase that gets thrown at you.
  5. Don't fall into the trap of rewarding yourself by spending what you’ve worked hard to save.
  6. If you’re a stay-at-home mum, remain employable, have your own super. Don’t become too reliant on your partner.
  7. One day of bad luck can change everything. Protect your income
  8. Respect your older self by building your super nest egg. You’ll need it one day.
  9. Take advantage of government incentives such as government co-contributions. 
  10. Spending money on experiences and memories will mean more than material items.
  11. Don’t worry about buying the nicest car. Pay off the home loan first.
  12. Avoid loans and credit cards if you can. Save first. 
  13. Separate finances from affairs of the heart.
  14. Travel. See the world.

We received hundreds of responses to our ‘What advice would you give yourself?’ competition and are grateful to all of our readers for sharing their tips.

Hindsight might be a beautiful thing, but it’s never too late to start something today. We’ve got a range of calculators that can help you budget and save. The MoneyBrilliant app might also help you to stay on track with your goals.

Where to go for further assistance

Savings calculator

Whether you're saving for a home of your own, a holiday, a car or for later down the track, AMP Bank's Savings calculator can help you plan and manage your savings goals.

Start now


Want to keep up to date with the latest news?

Subscribe now

Find an adviser

Choosing the right financial adviser is an important decision, which is why AMP has developed a tool that enables you to find an expert who is right for you.

Find an adviser

Want to keep up to date with the latest news?

Sign up now

Important information

Show more

© AMP Life Limited. This provides general information and hasn’t taken your circumstances into account. It’s important to consider your particular circumstances before deciding what’s right for you. Although the information is from sources considered reliable, AMP does not guarantee that it is accurate or complete. You should not rely upon it and should seek qualified advice before making any investment decision. Except where liability under any statute cannot be excluded, AMP does not accept any liability (whether under contract, tort or otherwise) for any resulting loss or damage of the reader or any other person.