I have just turned 22 and looking to see what some of the older members wish they knew when they were 22.
I know a lot of you will say you wish you had an ozbargain around when you were 22!
What You Wish You Knew at 22
spacebanana on 22/09/2015 - 12:20
Comments
Hold up, traveling Europe while saving up for a property…
omg that is brilliant haha! thankyou (from a 25yr old)
Set yourself long term goals and work toward them. Never become complacent. Keep bettering your situation. Identify and act upon opportunities … "you never ever know if you never ever go".
Another big one (this properly kicked in at about 25 for me) is look after your shit. Car/Bike/Boat/Tools/Furniture … perform regular maintenance and you will save a heaps in the long run. My neighbour is 22 and recently bought a Makita sliding compound mitre saw for about $400 but left it exposed to the elements for a month or so and the slider seized so 1 month later had to fork out for a replacement. There's a $400 saving.
Hope this helps.
i wouldn't change too much except that you should never trust a Real Estate agent. Negotiate HARD.
Got my first job earning $15,642 a year. Saved a shitload, bought my first property at the age of 20. Travelled solo through Europe, Asia and South America. (And no, I didn't get any handouts from family.)
For my second property, I negotiated to the point where I had the agent painting my place for free, in his own time, for two weeks.34 now and losing shitloads on the Stockmarket. Money is safer under the mattress!
Why'd you stop buying property and move to shares then?
Buying property is harder to hide when you have a wife :-)
They spend money like it's water going down the sink
When its a buyers market, negotiating works really well.
You also must keep in mind the sellers, could be the ones who are stubborn and won't move on price. Most real estate agents want to sell and not too concerned if they don't get the best price.
Did you get your first job at a supermarket when you were 15 or something?
Nah I took a job as a trainee Apple Technician as soon as I left school. I had already saved about 5-10k by selling beers and essays in boarding school. There was this website called Other People's Papers, where you could trade essays (this was before the education system had caught on)
I lived at the Queensland Country Women's Association (boarding) to save on food and accomodation. I bought the shittiest apartment I could find within 10km of Brisbane CBD, and then was forced to sell it (at a profit) to buy a place with a backyard for an old family dog with dementia.
I wish I could be less naive, spend less, be more humble and listen more. Respect friends and family more. They say that the older you are the wiser you get. I think I sound a bit philosophical. Meh. I'm 24 now anyway, but it feels like it was ages ago. Haha :)
The BIGGEST regret in my life was not reading books, esp about finance/career.
At 22, it was the perfect age to pursue career without worries of failing (in fact, failing can be an asset). Now, I'm 30 with family.. failing in career comes with a great deal of consequence that could hurt not just myself, but my family's life.
Books, in my opinion, is the greatest source of education. You can learn off someone's 50 years of experience simply by reading their book. And I think that is worth a lot more than money can buy.
what are these books?
The first book about finance was Rich Dad, Poor Dad by Robert Kiyosaki. I knew that this book was well recommended by many people. But I was being ignorant when I was young and I quickly shut off the idea of reading books.. simply because I didn't like it.
I eventually picked up the book around age 27 and was kicking myself for not reading it earlier. I would've been able to make a much more drastic changes with my career choices.
I've been reading a few more books since from finance, biography to self-development books. It's still not an easy thing for me but I force myself to it..
Yeah that's a great book. When i was 19, I struck a friendship with a customer (who later became my mentor). One day, he returned with three books, each with a personalised message and a laminated $100 bill, with his business card inserted. The three books were Rich Dad, Poor Dad, Cashflow Quadrant and The Richest Man in Babylon.
Rich Dad, Poor Dad is a great book for someone with no financial management background, though some of it was boarding on illegal/irrelevant as the US have close the loop holes.
If you want to make money I recommend you read Warren Buffet advice and the books his recommend. Sure some of them are really old, but his investment strategies are sound.
Kiyosaki has filed for bankruptcy.
@kobrien456: hope you have read more than that statement you put there. When he filed for bankruptcy it did not mean he was personally bankrupt.
@kobrien456: Bankruptcy in the legal sense comes in many forms, personal bankruptcy is one of them but he did something else similar to 50 Cent in that he said he can't pay anything back because all of his assets are tied to 'stuff' and are illiquid etc etc.
@rogr: hahah yeah, I remember one chapter was controversial because he told people not to pay bills and wait for the debt collector. Looks like he is utilizing his own advice!
I agree with the above. At 33 I am doing 'OK', but starting a business or changing careers despite my accounting degree and import/wholesale/SME business experience is a daunting prospect with wife/house/baby.
EDIT: PS. Don't expect employers to 'realise' your true value. Change jobs every couple of years to increase your salary but continue to live as if you didn't get the increase. I don't think anyone expects to see the 10 years with one company on my resume.
1) Always travel solo. The best fun and memories come from backpacking alone.
2) Take magnesium supplements (make sure it's citrate/chelate/glycinate/taurinate forms for more bio-availability)
3) Don't always take a job with the most money, pick it because it offers you growth opportunities in something you enjoy.
4) Exercise daily
5) Drink lots of water
6) Wear sunscreen (esp in Australia)Yes - magnesium is important for thinks like helping your shit come through and helping with sleep.
On point 1: I backpacked Southeast Asia for solo 4 months at 22. It was amazing.
I wish i knew drugs wernt fun
You even took the E from werent?
I first put on a lab coat at 22. Now, at 32 a decade later, I would have done some night study to move into a different field.
Apart from that, I would exercise more, and not take things so personally. Back then, I felt everyone was against me. Now, I just don't give a shit.
Save money, don't buy a $900 phone, buy a car based on minimisation of future running/maintenance costs, get internships, get good grades.
There guy i should marred i would have stop first husband have a car crash that kill him. i would not put house broth our name as mum was real asshole about it.
wot?
I believe she is saying:
"If I'd married the guy I should have married, the man I did marry would not have died in a car accident. Also, I would not have put the house in both of our names, because my late husband's mother was a real problem."
If so - this is extremely sad.
+1 for translation
stay at home for as long as you can and save up as much $ as you can, it all adds up. i regret moving out and renting, having the free life, going out clubbing\drinking etc, that was good, but if i didnt, i would easily have my own house and cars by now. (im still renting now). each year living with parents and working f\t you can save $20K easily. 3 - 4 yrs of that and theres your house deposit
26 yo here, so my bits of free advice to younger me would be:
- Those luxurious months-long semester breaks during school and uni? Go abroad, you'll never have as much free time while being so healthy, again. I backpacked quite a bit in my 20s, but in hindsight, spent a few too many holidays 'hanging' and playing videogames.
- Don't fixate on what people think of you, especially girls. Early relationships seem so cataclysmic when you're in them, but don't derail your life for one.
- Take a gap year. Serious about this one.
- Don't be picky about jobs. There are things you learn to appreciate in the service industry that humble even the snootiest and most educated among us.
- Don't even start smoking
- Don't become addicted to a monthly paycheque
- Wear sunscreen
What do you mean about not being addicted to a monthly paycheck? More to life than money?
Don't stick with a job you hate because of money. I know plenty of people who,on the way to getting where they want to be, got a job to pay the bills like many of us, and stuck there. They became addicted to the security of a monthly paycheque, got comfortable with unsatisfying work,and stayed.
I see. So, a healthy job/workplace is better for a little less money.
It's hard to move to another job that you hate less especially if you want to save for a house or something in the future. I used to work in corporate for a few years and made around $4k a month which enabled me to sock away 90% of it for a house deposit. I now work at another job where I'm a junior again and the pay cut is almost 50% which is tough but the environment and people are much better and I don't need to wear a suit every day. I sometimes think about how far ahead I'd be $$$ wise if I stayed in corporate.
@kaneissik: It's not universal. If you need money, then take the job; just don't get comfortable. I know people who for example, who got Commerce/Law degrees with the intent on becoming solicitors but when they graduated, there were no jobs in law > 'alright, I'll just count beans until there's an opening' and got locked into it. There was a thread here recently of an Ozbargainer with a business degree who started with a part-time job, but kept getting promoted and so has been in retail for years.
But does it bother you that much emotionally? Realising that you could have been potentially WAY ahead of your current situation?
Yeah, I see your point. I feel like I need to change jobs, not because I want more money (I'm able to save a decent amount every month). I think I just feel lazy at my current job. I like the people, I'm still learning new things but I'm not sure what's ahead.
I'm still young so it's not that big of an issue, it's just a little confusing.
@kaneissik: Sometimes. It's hard to mentally keep it away when you have friends who make so much corporate money to be able to finally put a deposit on their own places. I've thought about leaving this job and going back frequently.
i wish i didnt blow all my money on women and cocaine !!
I wish I know about financial and investment knowledge at that time.
It is too vital to ignore, especially for an engineering student who have 0 knowledge about it27 yr year old advice for a 22 yr old
-Invest your money wisely: I started investing in real estate when I was 24, and have accumulated a nice portfolio by now. Although at the time, when I was starting out my career and earning not so much, rental eventually increased as did capital gains, which allowed me to refinance and buy more. I made alot of sacrifices when I first started and tried super hard to pay down my mortgage. But as you find, eventually everything becomes positively geared. Real estate in Sydney has gone up alot now, but there are always opportunities like in other states and overseas.-Sometimes I wished I went into banking, moved to London to earn big bucks and just buy up real estate there since it's so much cheaper than Syd and positively geared. But banks are sort of the reason for all this financial turbulance in the world so I couldnt work for one.
-Manage your finance like a CFO:I have spreadsheets for cashflow, networth, tax deductions, investment calculations. Pay your bills a few days before due date and invoice as soon as you do something- if it's freelance work etc.
-If you have the discipine to dabble in starting a business, because you are not too exhausted by full time work, it's a nice time to see how businesses work.
-Be a super smart consumer: When I was 22, I bought alot of stuff. Stuff to make me feel good, that I thought made me happy, alot of fashion items. But recently I donated alot of things and drastically minimalised my life. I look at my spending as ROI- I spend alot on people I love and experiences, not stuff. I stopped buying stuff for family during commercial holidays and gave them money or cooked for them instead.
-Speak up and go for what you want: In your career, it's better to share your idea and be wrong than to be afraid and never say anything. Don't be afraid of anyone, because you have something valueable to offer.
-Time is more important than money: Don't waste your time on the wrong people. Choose your inner circle wisely.
-Dating: I'm the biggest romantic ever but romantic people always choose the wrong ones. Choose someone with a beautiful soul. Usually 22 year old girls choose someone who is charming, well dressed, stable decent earning job, attractive looking. Actually, it doesn't matter - all of the above, as long as they have a beautiful kind soul. Because at the end of the day, you can make your own money, but what you really need is someone who has the spiritual wisdom to get what life is about. Not a half grown boy who is chasing girls, partying, wearing the latest clothes, flashing gadgets with inflated egos or someone who is selfish or ruthlessly ambitious to become successful or someone who doesn't think about other people. Find someone who is generous and kind to everyone, takes care of his mum and is a good responsible son. Someone who thinks about other people before himself. Someone who respects women and is going to be a good father. Someone who wants to do good for the world, and isn't interested in self indulgence. The bible says (im not religious) where your wealth is, your heart is. If you date someone that spends $300 on a vacuum cleaner (insert expensive gadget here) and not much on you, then they probably aren't a keeper.
Valuable insight
Don't take dating advice from a woman. You don't learn to fish from fish but from the fisherman.
..
You just went full Abbott just now
Elin9, great advice but I couldn't help but chuckle at mr_asstight's comment.
Very insightful thanks :)
OMG you sound incredibly insightful.
Thank you for this post.The part about time is so true. No amount of money can buy you time (except that movie In Time).
Great comment. Can you share anymore information regarding finances? Would love to get further into spreadsheets etc.
This is my first comment after years browsing ozbargain with no contribution. I wish I'm you at 22, try to take life lessons from other people. Good on you OP.
My advise is spend more time with your family, I lost my step father last year and my grandfather early this year. The feeling of losing anyone close to you it's devastating, and every now and then I will think about them, and know that I can't see them again sadden me. I wish I did more when they are still alive.
Kev
Sorry to hear that mate, keep your chin up.
I wish I had known how to trade when I was younger. The things I could have done had I been awash with cash that young…
Im surprised no one has said this.. I wouldn't change a thing.
Continue doing what you are doing, and don't regret anything and make the most out of opportunities and life.
I can't think what I would have done differently and if anything different would really make for a better outcome.
But I guess that's all in your mindset and not concentrating on the "whatifs".. But more so..what's to come.
Its funny how some people have the opinion that marriage/kids is 'life over' type stuff and you should put it off. Not long ago I was listening to a man in his late 50's talking about that he didn't pursue that path and he deeply regrets it. So that's the other side of the coin. Although he must have enjoyed that single free lifepath at the time or he wouldn't have chosen it so who knows what the balance is! Do what you feel is right at the time. You don't know "the you" you will be ten years from now.
I don't view it as 'life over' but it is certainly different to being 22 and single. With that said, my wife and I were together 7 years before we got married and we should have done it sooner. Don't be scared of the future, being too risk averse can have a negative effect on your life going forward.
I would liked to have saved hard with money. I was 22 living in a country town and a house sold at auction for 27k. Even if I had 3 grand I would have had a loan, but I was terrible with money, I'm 32 now and 1 year into a 25 year mortgage, whereas I could have had a house paid off, resold for 5 times it value and probably have an investment property too.
Marriage is a waste of time, the local whorehouse is cheaper. Equally university is a waste of time. You can spend years educating yourself and I'll hire a visa for half the price that is just as good. Thank you globalization! Don't bother with a career if you don't want it you don't need full time work - you only have one life to live - why would you spend most of it working 38hrs a week; 38hrs closer to the grave each and every week? Above all, never chase the money, its never worth it.
What job do you do?
Yeah I would tell my 22 years old self to enjoy my life back then more, travel more, spend time with friends more, spend money more, and spoil myself more. Don't just work on so many jobs.
It's simple, we kill the batman
Just as a bit of a reply/ explanation of why I made this post.
Since coming out of a 2 year relationship over 18 months ago, I have made some pretty big changes in my life.
When the relationship was over I thought it was the worst thing that had ever happened, but alas, it has been one of the best.
I used to be quite reserved ending up with much fewer friends than I had in high school because of my relationship, now coming out of this relationship I have made countless new friends especially after spending 6 weeks this year back packing Europe alone.
I now also take much better care of myself, exercising daily and eating quite well, what I have found from all these positive changes in my life that I have been able to achieve so much more in my career. I pretty much have no qualifications but have managed to land quite a decent government job.I made this post because through my work and other mediums I have been connected with some older people (of all ages) who have given me some key advice, but it has also given me the power to see that some peoples advice has their own interests before mine. Or they are advising me to do something that might not be very beneficial to me, as they don't really want to see someone so much younger than them (my office is mostly 35+) succeed.
I am aiming to travel overseas twice a year so thank to all the people giving me travel advice.
Also looking at buying an investment property or two in the next 6 months, The relationship i was in somehow enabled me to save into the six figures, so I really need to make that money work for me.I really appreciate everyone's comments and advice, really interesting to read!
Looking forward to continuing to ready on!!what government job did u get that does not need qualification?
politician
Stop/Go man
Prime Minister
Haha i like the above comments.
But no I work for DTPLI ie dept. of transport
Parking infringement officer
"Or they are advising me to do something that might not be very beneficial to me, as they don't really want to see someone so much younger than them (my office is mostly 35+) succeed."
You know it isn't a old vs young person thing, it is a general most people don't see why others should succeed when they aren't and feel like they are similarly qualified, done their time, do a great job etc.
Young people really get caught up in that "I'm young and awesome why are old people holding me back?" I remember I had one 19 year old kid working in my workplace once, very bright and hard working but got really upset and quit when work wouldn't employee him as a software programmer. Unfortunately he didn't know how to code outside of basic web programming. But he figured that because he wanted to be a programmer they should just hire him and teach him! Was furious about not being hired, didn't handle himself well etc.
Sometime young people just need a little seasoning on things. When you get older and look back at what you were getting upset at in the first 5 years in the workforce you'll feel a little silly! Trust me, I did!
sorry mate! Definitely didn't mean all the older workers, some of the people here have really helped me out and I feel like they truly care about seeing me move forward.
I don't see it like young vs old, if I did I would be very out numbered hahaBut I know for a fact, that some of the other guys who are at the same level as me do not like the fact that I am young and at the same level as them. It has been made quite clear to me. Especially when I try to do beyond my work load.
Learn to lift weights and eat properly, to build a strong healthy body while young.
This. It is never too early to chuck some weights around.
I wish I'd started my own business rather than work for other people. I thought it would be hard to run a business, but I've worked for some people who have no business mindset, morals/ethics. All you need is a little capital, and then some employees who know what they're doing. Business owners get rich by getting savvy people to work for them, rather than working themselves (Risk vs reward). They take the risk, and get the reward. Standard employees take no risk, but get little reward.
When I was 22, I had the spirit, knowledge, willingness to learn and disposable income. Now, I don't want to gamble my house/income on starting a business. It was a gamble that I could have made, but thought the world was bigger than it is.
Though, once my mortgage is in the clear, I might re-assess that thought.
Saying that, money isn't everything. I wouldn't trade what I've done, where I've been with my 22yr old fork in the road. No regrets!
I would love to own my own business, I technically do, but it generates very little income as I don't market it.
That is my goal to be able to own my own business, preferably online but I am just waiting for that golden idea!
Maybe that would be a good idea for another thread hahaDepends on what kind of business you're talking about though. If it's anything that needs a brick and mortar setup then you might need a loan just to open up a store, but if it's purely online selling goods you've imported or make then that's going to entail a different set of expenses. I did a lot of research into starting an online business but I was just too afraid to spend like $1000 importing stuff and then spending extra to set up a store and get some marketing done. I could still do it now but it's so saturated online that it makes you feel intimidated.
Services primarily (IT support). Very little start up money required, as it's my knowledge I'm selling. Definitely different if it was product orientated.
I also wouldn't start a company selling products, unless I manufactured them, as there generally is a massive amount of competition. It will need to be a niche market, or small quantity that I know I could move (get in and out of the industry with a known budget/profit margin).
I also think that in IT support, the market is saturated - but with people who think they know what they're doing. They're actually doing me a service as once bitten by a incompetent fool, they'll stay with me forever! (Bwhaha)
As service goes, I can guarantee my work. If things go pear-shaped, I have only lost my time (and the money I didn't earn if I was working FT, thus the 'risk').
Life advice: Be the best tight arse you can be.
So, mi goreng diet then?
I'm not much older than you, but I wish I had networked more when I had the opportunities in school. Also try to keep in touch with your lecturers. Teachers can pull a surprising number of strings.
Good luck!
Buy a house if you are aren't going to take a chance in the next few years to start your own business.
Spend more time with your relatives, especially the people you hold dearest; when shit gets sentimental later in life and you realise you've sacrificed valuable time for cheap thrills, it maybe too late…
That porn is destroying your life
Do you belieb the power of #NoFap ?
Being naughty and cheat a little is alright. You don't have to follow every rule by the book. You don't have to be ready to do stuff. Expired food won't kill you. Just a few.
Started caring for my skin to keep looking like I am 22.
Habits can be your friend, or your foe. You can choose.
Someone once said, the chains of habits are too light to be felt, until they are too heavy to be broken.
What habits do I mean? Well you can choose and pick, but mine are.
Don't smoke, don't drink (unless for occasion), exercise, regular sleeping patterns, trying to end each day a little smarter than it began, etc.
Well done for starting this thread and asking the question, you are already strides ahead of many 22 yo's
In the end, we all die alone.
Once you wrap your head around that, it can be rather liberating in terms of your decision-making.“Remembering that I'll be dead soon is the most important tool I've ever encountered to help me make the big choices in life.
Almost everything—all external expectations, all pride, all fear of embarrassment or failure—these things just fall away in the face of death, leaving only what is truly important.
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart.
No one wants to die. Even people who want to go to heaven don't want to die to get there. And yet, death is the destination we all share. No one has ever escaped it, and that is how it should be, because death is very likely the single best invention of life. It's life's change agent. It clears out the old to make way for the new.”
steve jobs, standford
He might not have been the best human being, but he died doing what he loved. And he some killer quotes on life!
I would have drank less and saved ! I went straight into a 60k job after uni basically partied every weekend and literally had nothing after a year of it. Although in saying that I did meet my wife whilst at a pub - now 29, thankfully she had the deposit for our house ! So yeh probably that and spend time with your family.
Wish i knew that being a welder was a dead end job :(
Did you at least cash in?
Not really
At 22 I wish I had the confidence I have now. The realization that I don't need to meet anyone's expectations or to change myself to follow the pack. That I don't need to explain myself to anyone for decisions I make. Also, ironic seeing as it's ozbargain, material things don't mean shit in this world.
@gamechanger:
You sound very young gamechanger :) Perhaps been friendzoned a bit. My advice is start doing the things you love, do them in a social setting and get passionate about it. You'll be surprised by the amount of girls that will approach you when you look passionate about something else in life apart from getting a girl :)
And yes to all the other people, when you fall in love you tend to do the things you never thought you would! Sometimes it pans out, sometimes not, that is life!