She Strengthens

Reflecting on My Past: 5 Financial Decisions I’d Make Differently Today

As I look back on my teenage years and early twenties, I’m reminded of the importance of making informed financial decisions. While I’ve been fortunate to have made some smart choices, there are several areas where I could have done better.

The Value of Independence

At 14, I started making my own decisions, including taking on a part-time job and managing my own finances. This independence allowed me to make some savvy decisions, such as using my savings to study abroad in Israel and later to fund my share of a family vacation. However, with the benefit of hindsight, I can see that there were some crucial mistakes I made along the way.

Mistake #1: Not Graduating Early

One of my biggest regrets is not graduating high school early. I was unhappy in school, felt like I’d outpaced my classmates, and had enough credits to graduate early. If only I’d known it was an option, I could have saved myself a lot of heartache and potentially started college sooner.

Mistake #2: Overlooking Gap Years and Community College

Another mistake was not considering a gap year or community college. If I’d graduated early, I could have taken a gap year to work full-time or attended community college to earn my general education credits at a lower cost. Instead, I went straight to a four-year college, accumulating more debt than necessary.

Mistake #3: Not Learning to Drive

While I’m a fan of public transportation, I wish I’d learned to drive during my teenage years. It would have been cheaper and more convenient than paying for driving lessons as an adult. Plus, having a driver’s license would have opened up more job opportunities and given me greater independence.

Mistake #4: Not Exploring Job Options

When I landed a part-time job in college, I was grateful, but I didn’t explore other job opportunities. I wish I’d applied to more jobs, researched companies more thoroughly, and negotiated better pay. Instead, I settled for a job that ultimately didn’t pay well and wasn’t the best fit for me.

Mistake #5: Delaying Retirement Savings

Finally, I regret not opening a 401(k) earlier. I didn’t understand retirement savings, and I didn’t think I could afford to contribute. However, I could have spared a small amount each month, and it would have added up over time. Now, I’m playing catch-up, and I wish I’d started earlier.

Lessons Learned

While I’ve made some mistakes, I’ve also learned valuable lessons. I’m grateful for my supportive upbringing, good education, and the freedom to make my own decisions. If I could turn back time, I’d consider these mistakes and make different choices. Who knows? It might have made my life a little easier.