5 Money Moves to Make at 18

Here are five things you need to do to get ahead of your peers when you're 18 years old.

Here are five things you need to do to get ahead of your peers when you're 18 years old. First thing you need to do is you need to open an investing account that is a TFSA if you are in Canada, in a Roth IRA if you are in the US if you can even invest $20 a month, that goes a very long way since you're young. Second thing you'll want to do is to open a high interest savings account. Okay, don't keep your savings in a regular savings account because it'll probably pay you a dollar a year versus if you open a high interest savings account, they pay you like 10 times more and that' money every single month. High interest savings accounts are literally no risk and you get free money. Third thing you should do is to get a credit card now. Use it responsibly. You guys have heard this, you know what's going on. Pay it every single month in full and do not be late. You can save a lot of money on interest for your car and your house if you have good credit. So start building it now. Fourth thing is self explanatory, but you need to start learning financial literacy. Like what is a capital gain, by the way? That is when you buy something at this price and you sell at this price. The profit is a capital what is a dividend? That is passive income from stocks and ETFs. And no, you do not need a finance degree. I literally learned everything I know now from YouTube. Last thing I'll say, and I'm going to eat my lunch is that you're young. So work on your mindset. Stop trying to look rich. All of those, ah, all of those friends that you have that are, you know, partying every day, are not serious about their finances, that want you to spend money and go drinking and partying, those are not great friends. You choose your own life and so make sure you choose your friends well. And you know what I mean. If you have financial goals that you want to reach, like this video and follow me for more financial content.