5 Things You Must Invest in in Your 20’s

Investing. We all know we need to do it, but at 22 where exactly does one start? With the plethora of options out there, and your newfound financial freedom how do you make the best spending decisions? We’ve come up with a list to help you put those extra few bucks to better use.

The first step in investing is to view money not merely as a tool to fulfil your everyday needs but as a way for you to yourself. Put money towards elevating your lifestyle, spend on experiences and opportunities that help you feel fulfilled, and develop skills that contribute to your growth.

Save for your future: Ok so this is kind of a bonus one before we jump into the list, but nonetheless one of the most important: Invest in your future and save early. Sign up for a tax advantaged retirement account that forces you to save. If you are a Singaporean PR or citizen, you’re super lucky because you and your employer are making CPF contributions that you can leverage on for your retirement, housing, healthcare or education needs. Find out more about the CPF schemes in Singapore and how they work here. Singaporeans, PR’s and foreign workers alike can also sign up for a Supplementary Retirement Scheme (SRS) offered by the government. Contributions to the SRS are voluntary, variable and eligible for tax relief. In addition to saving for your retirement, it’s also important to put some money aside for emergencies and big ticket spends. A quick tip to saving smart is to have specific saving goals. Here are some of Singapore’s better savings accounts. Sign up for one that suits your needs and spending habits.

1. Spend on your health: Jim Rohn said, “Take care of your body. It’s the only place you have to live.” Your health is your greatest asset and investing in it is one of the best things you can do. Spend on a gym membership or a fitness subscription that inspires and motivates you to move. Working out isn’t just good for your body, but it’s also great for your mind. It’s a fantastic way to de-stress and introduce balance to your life. Put some money into a nice yoga membership and keep yourself feeling accomplished, energised and excited!

2. Give yourself a confidence boost: Looks matter, there’s no two ways about it. But investing in your appearance is not all about how you look, but more about how you feel. Be it fixing your smile or spending on a new power outfit, looking your best motivates you and makes other people take you seriously. There are plenty of affordable solutions out there, like Zenyum, that can give you that much needed confidence boost. Zenyum Invisible Braces straighten front teeth at $2,400, an honest bang for your buck for a lifetime supply of confidence!

3. Improve your mind: In 2019, more than ever it’s important to stay informed and make conscious decisions to keep up with what’s happening in the world. Investing in improving your mind is not just about money, but about allocating the time to be able to do so. Put aside a certain amount of time each week to work on cultivating adaptable skills that increase your net worth. From the simple things like spending your commute to work reading a good book, or catching up with articles you saved on your pocket app. To spending money on online courses, news subscriptions and further studies, your 20’s are all about continuously improving yourself.

4. Backup your files: In the age of technology when all your photos, documents, and passion projects sit online, it’s important to protect your digital files. You can choose to invest in a physical hard drive or buy online cloud storage – bottom line in have a backup solution in case your laptop or mobile crashes.

5. Invest in Experiences: Fill up your 20’s with new experiences. Create – and jump on opportunities that will allow you to travel and chase adventure. Discover new places, meet new people and in the process get to know yourself. Like Pico Iyer said, “We travel, initially, to lose ourselves; and we travel, next, to find ourselves. We travel to open our hearts and eyes and learn more about the world than our newspapers will accommodate.” – And with a little bit of planning you can see the world on a budget!

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