Hey everyone I'm Chris and welcome back to the channel where we talk about investing real
estate and saving money to help you guys achieve financial freedom. In today's video we're going to
talk about the five financial goals you should aim to hit in your 20s. Of course the earlier you start
working towards financial freedom the better it is for you but also I have to say that each
person's journey is different so don't worry about working on these goals when you're in your 30s
40s or even 50s because the most important thing is that you're working towards financial freedom
so let's get started. The first goal is to get rid of debt I think it's time we normalise being debt
free so pay off all your student loans, car loans, and credit card debt. Sacrifice some of your time,
happiness and comforts now and try to make as much money as you can while you're young and able and
use most of that money to pay off debt and stay out of that as well save your money to hit all
your other financial goals. I heard this quote the other day I don't know where it's from but it says
wearing cheap clothes and driving an old car doesn't make you broke remember you have a family
to feed not a community to impress. The next goal is to start an emergency fund if you don't know
what it is it's a pool of money that you can access anytime whenever something unexpected
happens or in case of an emergency. It's usually three to six months worth of living expenses
in a savings account. An emergency fund will protect you from being in high interest loans
or long-term debt. You'll be so much better off financially and you don't have to worry about
being in financial trouble whenever something unexpected happens. I actually have an entire
video about emergency funds I'm going to put it right here so you can check it out. The next goal
is to increase your income or find a side hustle. You know when people say that life is short and
yes it may be true for some people whether someone has been diagnosed a terminal illness
or someone dies unexpectedly at a young age sorry that's a bit morbid. But when you really think
about it what's the average lifespan of humans now? It's around 80 years old that's a long time life
is long and you better be financially prepared for it. I've always believed in working hard and making
sacrifices while you're young so that you'll be financially secure for the rest of your life so
find ways to increase your income at work whether it's asking for a raise or applying for a better
position and in your free time find a side hustle there are so many options out there you can do dog
walking, audio transcription, you can even write a blog for someone else and they can pay you
remember you don't have to hustle for the rest of your life this is something I've
said so many times in this channel and only until you've reached certain financial goals
the fourth financial goal that you should aim for yourself is to learn about investing
of course the best investment is to invest in yourself through education so teach yourself
or buy courses on real estate investing or stock market investing the best thing about investing is
compound interest and the sooner you do it the more time your money will compound. I actually
only learned about stock market investing when I was in my 30s and I wish I had done it sooner
before I thought it was intimidating and I could never grasp the concept of it but now that I have
finally put the time and effort into learning about stock market I can assure you that anyone
can learn it just put the time and effort into your education it'll be so worth it also you don't
have to spend money on courses if you don't have the money because there are so many free resources
out there. You can listen to podcasts, read books or follow personal finance channels like this
one but my personal recommendation would be Ryan Pineda and Graham Stephan you should definitely
check them out because they are very inspiring. The next financial goal is to save for a down
deposit of a house. Real estate investing is one of the best ways to retire a multi-millionaire
even if you own just one house you'll be so much better off in retirement you don't have
to worry about paying your rent or moving around in case the owner sells and when the time comes
that you need to sell it, your house will be worth so much more than what you paid for it
because real estate always increases in value especially when you hold it for a long period
of time. If you haven't read it yet I suggest reading Rich Dad Poor Dad or The Richest Man
in Babylon because that's a great place to start when you're interested in real estate investing
those are the five financial goals I think you should hit in your 20s or as early as you can
and you'll be this much closer to financial freedom if this video motivated you at all do
me a favor and hit the like button, subscribe to the channel and I'll see you guys next week. Bye.
yeah that's right, right?