We put a question to our community recently: what would you tell your younger self about money? The responses came flooding in – honest, funny, occasionally painful, and genuinely useful.
Here’s what they said.
Start your pension before you think you need to
The most common response by far.
Compound interest rewards time above everything else. The money you put in at 22 doesn’t just sit there, if it grows, time compounds that growth. One community member said it perfectly: in her 20s she told herself she needed the money more now and would catch up later. In reality, making up lost contributions in your 30s costs significantly more than the price of a coffee or an extra round of drinks ever would have.
Most people are also entitled to a tax “top up” from the government into their pension; plus if they’re employed will likely benefit from their employer also contributing to the pension – literally extra money. Also, if your employer matches pension contributions over and above the auto-enrolment percentages and you don’t increase your contribution, you’re leaving more money on the table every month you’re not at the maximum. This may not be right for you right now – but worth being aware of for the future.
Check yours today.
Your financial independence is non-negotiable
Never structure your financial life around a relationship. Not because relationships are bad – but because you cannot predict the future, and your security should never be in someone else’s hands.
One community member lived this. After a relationship ended, she couldn’t afford to rent alone and spent four years back in her childhood bedroom saving to buy her own home. She put it better than we could: “Having my own money and safeguarding it has made me happier than any relationship possibly could.”
Know your numbers. Keep your own accounts. Build your own safety net – whatever your relationship status looks like.
Negotiate everything – not just your salary
Yes, negotiate your salary. But don’t stop there.
Relocation costs, job title changes, training budgets, further education sponsorship, stock options – all of these are on the table if you ask. Most people don’t. Be the person who does – and if you’re not sure what to say, we’ve written the scripts for you.
Sinking funds will genuinely change your life
Multiple people mentioned sinking funds unprompted. One said she only discovered them in her 30s and wished she’d known sooner. Another simply wrote: “sinking funds save lives.”
If you’re new to the concept – a sinking fund is money you set aside each month for a known future cost. Car MOT, Christmas, a holiday, new glasses. Instead of those expenses blindsiding your budget, you’ve already covered them. It’s the difference between ending the month with something left and scrambling to cover costs you knew were coming.
A student overdraft is a debt – not a bonus
It’s marketed as interest-free. It feels like free money. It isn’t.
Every penny needs to be paid back. Building a habit of spending money you don’t have is one of the hardest financial patterns to break – and one of the most expensive. Get out of it as early as you can, and don’t let it roll into a standard overdraft once you graduate.
One thing at a time
If you’re reading this in your 20s feeling overwhelmed – good news. You don’t have to do all of this at once. Pick one thing. Start there.
Build your emergency fund first. Then tackle debt. Then start investing. That’s the Financielle way – and it works.
P.S. “don’t lend your ex thousands of pounds – you’ll never see it again.”
This content is for general information only and does not constitute financial advice. If you need advice tailored to your personal circumstances, please speak to an authorised financial adviser.