Are you a 20-something or a DINK (dual income no kids)?


We are talking to you! It is time to Adult!

You are in the financial sweet spot of your life. You are earning good money, you don’t have any dependents (yet), you have minimal obligations and responsibilities.

This can be a very powerful time of your life, financially speaking, if you choose to make it so. The decisions and financial discipline that you apply now, can make an exponential difference to your financial future, and even your retirement.


Our top 5 money tips

1. Make hay while the sun shines

When you are earning good money it can be tempting (and easy) to spend mindlessly. If you are a 20-something living at home, or you are a DINK household, then save.. save.. save. Your future self will thank you for doing this!!! Saving is so simple when you don’t have obligations. Apply some financial discipline, set a budget, and stop buying things that you don’t… actually… need!

2. Contribute extra to your Superannuation

FACT: Most 20 somethings have no idea how much superannuation they have. If you start making additional super contributions in your 20’s, then by the time you hit your 30’s you will be in a much better position to build your wealth, expand your investments, and diversify the options you have in making this super work for you.

3. Plan for your retirement early

Do not leave your retirement planning until it is too late. How do you want your retirement to look? Living comfortably and debt free thanks to your lifetime of smart decisions, or scraping through off the age pension? Remember that properties take 30 years to pay off. It is never too early to engage a financial planner to put some goals in place.

4. Avoid Bad debt

Think credit cards… having a small credit card and using it WISELY can actually work in your favour when applying for a home loan (as long as it shows excellent conduct), but otherwise a credit card debt is bad debt to have. Unless you are paying the balance off monthly, then this little guy can set you back in a big way… by tricking you into spending money that you don’t actually have, and then costing you 20% pa in interest on whatever you leave outstanding! If you are falling into the trap of seeing a snowballing credit card balance each month, you are better off to pay it off, and close it down. ASAP.

5. Set tangible goals

Even if purchasing a property is not in your immediate plan or is not feasible for you right now, engaging a Broker early can help you to set yourself some realistic and achievable goals. Once you know in your mind that you need to save $X, and earn $X, to buy that cute investment unit on the coast, having a tangible goal in your mind WILL reset your spending psychology and help you to make smarter choices along your journey.

In summary… everybody wants financial freedom, but the only way to achieve financial freedom is to apply financial discipline. So what you are you going to do differently, starting today?

If you would like an obligation free chat about anything we have mentioned above, please reach out via the form below.

We love to chat!


Related Articles


  • Hidden