Financial decisions you must make in your 20s

Or before you get married.

Praise Adeola
Digital Finance Hub


Photo by micheile henderson on Unsplash

It’s often said, “The best time to take high risks is in your 20s.” And it’s true. After your 20s, you might be married with kids, which can limit your ability to make life-altering decisions. Your 20s are all about trial and error, making mistakes, learning, and smashing unimaginable goals. Here are four financial choices I’m making in my early 20s:

1. Investing in myself:

My biggest financial commitment is to personal growth. This means buying books, paying for professional courses, practicing self-care, and enjoying activities that enrich my life. It’s not just about the money spent, but the future impact of these investments. For example, I’m investing in professional finance courses to realize my dream of becoming Nigeria's first female and youngest CBN governor. Achieving such a goal requires serious self-investment.

2. Investing in assets:

I’m all about long-term growth and wealth building, so I’m using my early 20s to invest in assets. This includes income-generating assets and capital-appreciating investments. Investing early lets me enjoy the benefits of compound interest. For example, if I invest ₦100,000 monthly at 24 years in an investment bond with a 15% ROI for 10 years, I’ll have contributed ₦12,000,000 and earned ₦16,190,497 in compounded interest, totalling ₦28,290,497. How cool is that?

You can calculate yours here

3. Building a good saving habit

Many young people struggle with saving effectively, but savings are crucial for achieving goals, earning extra income, and preparing for emergencies. For instance, saving ₦30,000 monthly for a new laptop can lead to learning a new skill and generating additional income. It’s harder to save in your 30s due to increased obligations, so building the habit now is key.

4. Creating a bucket list of To-Dos

Achieving dreams often requires money. For instance, my bucket list includes visiting 30 countries before 30, building my first house before 30, buying my first car before 28, sponsoring 1,000 children through secondary school, and more. Having such a list gives life meaning and purpose. Create a bucket list and work towards it — these dreams can’t fund themselves, but striving to achieve them adds value to your life.

Your decisions in your 20s will follow you into your 30s, 40s, and beyond. Starting early gives you a strong foundation for financial stability and growth.

So, dearest 20-something (or 30+), what financial decisions will you be making today? Let’s chat in the comments!

Since you enjoyed reading this, you will love this:

27. It is good for a man that he should bear the yoke [of godly discipline] in his youth.

28. Let him sit alone [in hope] and keep quiet, Because God has laid it on him [for his benefit].

Lamentations 3:27–28 [AMP]

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