Well, this isn’t just for “Millenials”, this could be said for any younger person looking to make financial strides. If you are just stretching your wings in the financial world and wanting to see how far you can take yourself, here are some tips to start you off the right way. 

If you are expecting a magic bullet to make money for nothing, you won’t find it here. The reality is, this takes work and dedication. However, with the right mindset and goals in mind, you can succeed by taking the right steps early. So let’s dig in.

Few People Can Make Money for Doing Little to Nothing.

Unfortunately, it seems to be a common theme that the younger generations expect something for nothing. Some may say it is the emergence of technology and its influences on our psychology. Others talk about the dangers of “helicopter parents” and their influences on the younger generations.

Actually, there is a pretty interesting article that looks into the timeline of the average millennial. In it, you can see how the expansion of convenience through the internet may have played a fairly important role in why younger generations seem “entitled”. 

The first step in making financial gains is to start putting in the work! So expect a journey ahead of yourself and accept the hurdles you must cross. Speaking with a financial advisor would help you see what’s ahead and give you some realistic expectations. This takes work, but it isn’t hard with the right help. Try not to see it so much as a chore, but rather, an opportunity. 

Financial Advisors Recommend Goal-Based Investing.


That means you need a light at the end of your tunnel to fight for. Set your sights on a goal; something you want to accomplish. This could be a brand new car, a new gaming console, a house on the hills, or anything else you can set your mind on. 

Once you have something in mind, things become tangible. You finally have something you can measure and work towards. Keep in mind, the finish line won’t be the only win you will attain. Being able to track your progress will give you a sense of achievement every step of the way!

Once you have a goal in mind, sit down with your financial advisor and figure out what your assets and liabilities are next. This will clear the path for you to reach your goal. Assets are what you build up over time to gain monetary value, and your liabilities are holes where you may be losing money. An asset could be a car you paid off or savings in a Tax-Free Savings Account (TFSA). Liabilities are things that are losing you money, this could be the obligation of debt and loans you may have created in the past. Maximizing your assets and minimizing your liabilities is the name of the game if you want to reach your goals. 

Don’t Just Eat Rice!

Making financial strides means making some sacrifices and changing the way we live into a more mature and productive standard. However, this isn’t to say you need to sacrifice everything and live off the bare minimum. You need to enjoy yourself still!


Working too hard and leaving yourself no time to relax can be extremely detrimental to your health. That just won’t do, we need you at the top of your game if we want to reach our goal. Eating nothing but the rice in your pantry for one month will save you a ton of money, but in return, you will be malnourished. The only wealth malnourishment leads to is a wealth of health problems.

So find a happy medium, find your balance. This means still eating right, but not going out for food every day. Relaxing enough, but not becoming perpetually lazy. This means focusing on what needs to be done but giving yourself time to breathe and avoid unnecessary stress.

Your Friends and Family Won’t Always be There to Bail You Out.

Independence is a valuable asset that perpetuates growth and success. It’s alright to ask for help sometimes, that’s why we have our support systems. Just keep in mind that people won’t always be there for you. Having this understanding will better prepare you for a stable future.


Learn to fend for yourself. This could mean putting money away for a rainy day fund early on. Preparing for failure will smooth out the process and set your mind at ease when the unexpected comes knocking on your door. 

Seek your family’s help as a last resort and avoid over-using your support systems. This will ensure that they are there for you when you truly need them. Additionally, you will develop the independent skills needed to make it on your own.

Speak With a Financial Advisor as Soon as You Can.

Developing a strong relationship with a financial advisor will give you the tools you need to reach your goals. Picking the brains of those who eat, sleep, and breathe finances grants you access to a wealth of valuable insights. 

You need to take your finances seriously as soon as possible before it is too late. Starting early with a financial advisor means you are taking advantage of all the opportunities in front of you in a proactive manner.

We all look back in time and see opportunities we have missed, and that’s OK. Just be aware that with the right advice from the right person, you won’t miss out on so much before it’s too late. Investing early means stronger long-term returns on investment (ROI). So don’t be afraid to pull that trigger.

You Got This!

If you are a younger person reading this article, then you are already on the right track. It means you show the ambition needed to get started. So keeping these bits of advice in mind, you can start early and see your dreams come true sooner than if you didn’t. Take advantage of all the time you have left in this life. Your future self will thank you.