Post by @jordfinance

10 things I refuse to do with my money as a 22-year-old accountant 1. Leave all my money in my chequing account. Inflation slowly eats away at cash, so I keep what I need for bills and put the rest to work. 2. Finance an expensive car. Why borrow money for something that loses value every year when I could invest the difference instead? 3. Buy something just because it’s on sale. A discount doesn’t save you money if you weren’t going to buy it in the first place. 4. Ignore my TFSA. Tax-free investment growth is one of the biggest financial advantages Canadians have, so I want to make the most of it. 5. Try to time the market. Nobody consistently knows where the market is headed. I’d rather invest consistently over time. 6. Only make the minimum payment on my credit card. That’s exactly how people stay in debt. I pay my balance in full every month to avoid interest. 7. Increase my spending with every raise. Every raise is an opportunity to invest more, not just spend more. 8. Compare my finances to other people. You never know how much debt someone has or what their financial situation actually looks like. 9. Wait to start investing. Time is my biggest advantage. The earlier I start, the more compound growth can work for me. 10. Buy lottery tickets. I’d rather invest consistently than hope to get lucky. Follow for more Canadian personal finance. 📈🇨🇦