The 7 BEST Purchases To Make In Your 20s

Travel 01:16

– Spend money on traveling, not luxury travel.
– Americans should travel to understand different cultures and the world beyond their cities.
– Understand the importance of experiencing different cultures and environments.
– Look for opportunities to travel that don’t break the bank.
– Look for places where you can still run your business or online side hustle.
– Understand the importance of saving 30-70% of all income to invest in traveling.

Understand the importance of having style in the workplace and in everyday life.
Invest in a wardrobe that is versatile and timeless.
Invest in quality items that will last for years.
Find a signature look that is unique and professional.
Look for sales and discounts to get the most for your money.
Research trends and shop for items that fit within your budget.

Invest in knowledge to expand your understanding of the world.
Find books, courses, and seminars that will help you in your professional and personal life.
Consider investing in conferences and mentors.
Develop new skills and gain insight into topics that interest you.
Take advantage of online resources to access materials at a low price.
Challenge yourself and never stop learning.

Spending money on clothing is not necessarily useless, as clothing and style can say a lot about a person.
A tailored suit is a great purchase to make in your 20s. It can be found relatively cheaply at places like suit supply.
Rather than spending a lot of money on big brand names like Gucci or Louis Vuitton, go for the essentials like t-shirts and trousers that are tailored to fit you.
Tailoring an article of clothing can cost anywhere from 20-40 dollars.
Having a classic and timeless wardrobe can be achieved without breaking the bank.

Investing in the tools necessary to build a high income skill can be beneficial in your 20s.
Examples include learning photography and videography, which can lead to client work and potentially business opportunities.
Improv classes can also be a useful way to improve high income skills.
Take the time to learn a skill that can serve you for the rest of your life.
Investing in high income skills can provide stability and security.

Invest in public speaking classes to hone and refine the skill.
Invest in courses and programs dedicated to learning specific skills, such as coding.
Buy the necessary tools to cultivate the high-income skill you have chosen.

Buy an expensive timepiece that holds its value and is recognizable by others.
Look for watches that can be bought from the open market at the end of their depreciation curve.
Aim to spend at least $30,000 on a luxury timepiece.
Investing in a watch is an instant status symbol.
Wearing a luxury watch is a conversation starter with other watch collectors.
Having a watch can provide benefits to clients.

Paying off high-interest debt should be a priority if you have gotten yourself into a sticky situation.
Cripplingly high-interest rates on credit cards can ruin your life.
Investing in the stock market may not be a wise financial decision compared to the interest rates of some credit cards.
Pay off high-interest credit cards as quickly as possible.
Use AmEx points to fly first class flights for free.

Paying off your credit card debt is the best thing you can do in your 20s.
The financial burden of credit card debt can be crippling and daunting for those suffering from it.
It is important to prioritize debt repayment before all other purchases.

Not many people recommend investing in a hobby, but it is a great purchase to make in your 20s.
Incorporating hobbies into life can help to challenge yourself, boost motivation and discipline, and make things more effortless.
Examples of hobbies to invest in include tennis, skiing, chess, and playing instruments like guitar or piano.

Investing is one of the best purchases to make in your 20s.
Investing can be done with as little as $50 a month, and can lead to a massive portfolio over time.
Investing in your 20s can help you build a secure financial future.

Starting young is key to having time on your hands, the most powerful asset on Earth.
Consider investing a fixed amount of money each month or week, such as $50,000 or $500,000.
Investing in stocks or cryptocurrency is a good idea, as they are fractional and you can buy fractions of an asset.
Dollar cost averaging is a great way to invest – committing to investing the same amount every week or month regardless of the market conditions.
Property is a great way to invest, but it’s not as accessible to buy a fraction of a house.
Watch Iman Gadzhi’s video ‘The 8 Money Tips for Millionaires’ for more information.

Habits can be ingrained in you from a young age.
Consider starting habits that will be beneficial in the long-term, such as investing.
Habits become second nature when started young and can be done with little effort.
Making a commitment to investing each month or week can help make investing a habit.