The money advice I’d give my younger self

Our CEO Mat hosted a live Q&A on Instagram last week and there was a lot of love for the idea of the HyperJar Child Card. This free service launches later this summer, and will help teach under 18s money management skills, give parents a bit of control over where pocket money is spent and let friends and grandparents top up accounts with birthday fivers. Join the waiting list for regular updates.

In the run-up to launch we asked the HyperJar community what money advice they would give their younger selves.

“Wealth will come more from not wasting your money than from what you earn,” was the advice from HyperJar CEO Mat Megens.

 

“‘I would tell myself to save and invest every spare penny!” 

MoneySavingNat is a self confessed budgeting fanatic and money saver. Her advice to her younger self is: “‘I would tell myself to save and invest every spare penny! Pay yourself first and save at least 50% of your income. Money provides security and, as an adult, it’s so much more important than material possessions.”

 

“Personal finance is PERSONAL - it is different for everyone”

Maya from FempireFinance has set up a community of sassy, financially independent women. They provide education on personal finance topics without all the jargon. Maya’s advice is: “To not fall under society’s messaging that I must have x amount of money in my savings by a certain age, or that I must buy a house by 23 (the impossible task in London) or to earn a certain amount by a certain age’. Personal finance is PERSONAL i.e it is different for everyone and we as individuals should not feel forced to replicate anyone else’s financial journey because it seems like the right thing to do. Younger me would need to know that you don’t have to push yourself to the limits in order to meet these ‘socially acceptable’ standards.” 

 

“Start your pension as early as you possibly can.”

Katy Kicker is a personal finance blogger helping people make money, save money and change their lives for the better. Katy’s advice is to “Start your pension as early as you possibly can. The first 1-2 decades can make a huge difference to the overall value of your pension and the younger you start the better typically! “It is tempting to put this to the back of your mind but life starts to fly by once you build a career and if you start a family, so the earlier the better.”

 

Here are some responses from the HyperJar team:

  1. Just watch what your dad does and you will be absolutely fine.
  2. Make sure you keep a good credit score.
  3. Learn to save.
  4. Money doesn't grow on trees.
  5. In hindsight you will enjoy thoughtful spend more than impulse spend.
  6. Do not get a credit card when you’re 18 and think that means you have money.
  7. Buy experiences.
  8. Do more, buy less.
  9. Focus on fewer ‘wants’, then go after each as hard as you can.
  10. Money doesn't buy happiness or health - enjoy it but don't let it take over your life.

If you could give your younger self advice about money, what would it be?