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Yeah I was east coast, and we went to Centcom both my first 2 deployments. On the way there we got to pull into Spain, France, Sicily, and Crete. Then in Centcom of course Bahrain, Dubai, Fujairah, Jordan, and all the way down to Diego Garcia.
Later I was on a sub tender in Guam. Got to do some nice flyaways to Japan like 4 times and then Singapore.
Im 26 now. I had just graduated college, got my first "real" job, making $55k. Had $120k in student loan debt. Not much thought about owning a home or retirement.
Did tons of travel the next 2 years, met a girl and got an apartment together. Life was fun and exciting. Paid my loan minimums and saved a tiny amount.
TMI but I'm in a better financial place but worse emotional place now. Enjoy your youth. You have your whole life to worry.
Someone will come along and say they’re in their 60s, you still have your youth, enjoy it.
I think a better strategy is to appreciate that we are all getting older, and it’s important to recognize, enjoy, and soak up what we have now — regardless of your age — while knowing that old age, sickness, and death inevitably march closer each passing day. Because someone who is 80 will soon be along to tell off that 60 year old :)
At 22 I was spending my money on takeout, cigarettes and gambling and having over $50 in my checking account after bills and not overdrafting again was a great day.
Look at the financialindependence or personalfinance sidebar. Having a goal of owning a home is great, but right now at age 22 the most important thing you can do with your money is invest it in index funds or low expense ratio target date funds in tax advantaged retirement accounts and let compound interest do its work.
If I had approached money back then the way I do now, I'd probably be retired (mid-30s).
I was working at GameStop as an Assistant Manager. Made like, idk, 32k or something like that. If that.
Left that the next year and started working with my parents, then into software testing, then into sales where I am now at 33.
Shit isn’t linear. I really didn’t have anything going for me until a few years ago. You’re doing fine young man!
Drinking beer and riding Harley’s. You’re doing great if you’re even thinking about retirement lol thankfully I didn’t lose my job at the time cuz I’m still working here and it’s been great now that I’ve got my head screwed on correctly.
I was starting my first year teaching. I wasn’t making much, and wasn’t budgeting much, BUT I started investing from day 1, and it’s made a huge difference.
Things I wish I also did on top of investing.
Simplified order of operations. Finish one before the next:
- gain employment
- budget your expenses and don’t overpay (way simplified, but basically know where your money is going)
- make sure all bills are paid
- save 1 months expenses in a savings account (so after an emergency you don’t reach for a credit card)
- pay off all high interest consumer debt (credit cards)
- put 15%+ of your income into your job’s 401k
- increase emergency fund from 1 to 3-6 months expenses.
- when your emergency fund is needed, repeat that step until it’s built back up for the next one
From THERE you’re set to get fun. Save up for a car, house, wedding, vacation, whatever.
Even being on this path puts you ahead of 90% of your peers, even ones that will make 2-3x what you’re making.
Unfortunately graduating with a liberal arts degree.
Thankfully, between fafsa and bright futures, it was a free degree. But one that set me back financially 4-5 years.
I graduated with a degree in finance in December 2020. At 22 I was working for a defense contractor, didn’t really like it and wasn’t paid well so I applied a ton of places and found a good analyst job at a Fortune 500 bank.
I’d say the most important thing at 22 is get into good spending and lifestyle habits. That’ll carry over as you move up and allow you build wealth but also have a life that you enjoy living and are proud of.
I was working a shitty supermarket job and going to school part time for a Bachelor's in Accounting. I didn't even have a car yet. You're doing fine. Contribute to your 401K to your company's match and start shoveling your money into a HYSA. Get a roommate if you can.
Working two jobs trying to save as much money as I could to go back to college after taking a break and being put on financial aid suspension a couple years before. I did successfully go back the next year and graduated a couple years later with an Environmental Health Science bachelor’s. Wasn’t able to buy my first home until I turned 30. A couple years later I got serious about saving for retirement.
Obviously the earlier the better, but everyone has their own pace and their own life to live. You have time.
On my 22nd birthday, I was halfway through a master's in philosophy. I did it to help me figure whether to study law or get a PhD in philosophy. And thankfully, I got a full tuition scholarship.
By then, I was pretty committed to getting both degrees. 7 years later, I had both degrees, and I landed the precise type of job I wanted.
The key for me was planning and just putting my head down through the rough periods. It worked out pretty good.
$43k with a potential $1500 bonus every quarter. I’m working on getting my NMLS license and hopefully transition into a commercial banking role as a credit analyst or underwriter
If you’re looking into credit analyst roles I highly suggest you look into surety underwriting roles. Please. Honestly. I work like 20 hours a week, mainly going to lunches. My first gig was $60k a year and in 10 years I now make about 215 a year. They even have trainee roles that will convert into full time that teach you everything you need to know, though these types of positions will come around closer to nextspring. Look at the top10 largest surety companies https://bestsreview.ambest.com/displaychart.aspx?Record_Code=328160&src=43
You’re doing great, man!
I didn’t make that much until I was well over a decade older than you
Emergency savings keep at 6month minimum in HYSA (can just add to this for house down payment if you save aggressively/fast)
Contribute to 401k in index funds. Try at least 10-15% of income at first while you’re saving for house down-payment.
Max ROTH IRA every year if you can (also index funds like VTI)
Save anything extra each month for down payment. Many places will take 3% down but also consider “closing costs” & costs of any immediate repairs.
Jobless for year plus living with my mom. I basically spent every waking moment online or playing video games. My mom was pretty supportive but also enabled me to be NEET and I kept doing it for another year and eventually got a job when I was 23.
I’m 34 now and life couldn’t be more different, I don’t miss doing nothing for months on end but I really should have appreciated the time and just chilled the fuck out instead of being constantly racked with anxiety about my future. You don’t have to stress or worry constantly, just make smart financial and social choices, take care of yourself and your loved ones and enjoy the ride. The way I see it is as long as you’re doing what you can to make sure you’re able to seize opportunities when they present themselves and don’t beat yourself up for not doing enough you’ll be fine. Sure some people are doing “better”, by their definition, at 22 than others but most are doing worse.
I had just graduated and started new job.
You’re entering a transitional phase in your life. Work hard to get good at your job. Try to observe which career paths interest you and make a plan to get there.
Hard work in your 20’s will set you up for a successful 30’s.
Also save aggressively into your 401k, Roth if you can. The money you put in during your 20’s is foundational when it comes to compound earnings. You will thank yourself in 10-years if you do that. When it comes to a house save money for a down payment but I wouldn’t focus too much at that age. You may end up relocating within the next few years you never know.
Maxing my TSP and IRA while paying off ~$30k in student loans….by starting my budget with the big blocks of $14k/24 and $5k/24 and $500 in loans and living off what was left.
Learning the base skills to do my job well. For me it was project management and intrapersonal relationships, for you it’s probably sales, understanding your compensation structure, and what your highest value products are to sell. If you’re getting $200 commission for every client you set up with merchant services, but $20 for opening new accounts, absolutely open the new account for someone who walked in for it. Build that relationship. However, when someone wanders in because their debit card is broken and you realize they’re running a small business but only take cash and checks, pitch a merchant services meeting because it will simplify their bookkeeping/y’all are charging less than square/it levels up their business account and their fees will be lower.
It takes an hour to open a new account. It takes ten minutes to set a merchant services meeting (and five more to follow up and make sure the meeting will happen). Know where your money is coming from and prioritize that.
Spend some time over at r/personalfinance and figure out what you’d say to that person at your desk. How do you work your tools to show them how much money they save by opening a balance transfer card? How do you show value for refinancing their mortgage? Why would opening a HELOC now, even if they don’t use it, help them when rates come back down? Know your products.
If you don’t stay in banking, the sales skills are invaluable. If you move up in the bank, the product knowledge is invaluable. And if you jump ship completely, knowing how to figure out a new corporate system and structure is invaluable. Learn as much as you can.
Working full time in data science and getting a masters lmao. Conversely my husband had just graduated undergrad and was working at a gym blacking out most nights 😂 we’re both doing just fine now. Don’t stress too much, gotta enjoy life.
I was actually in Air Force basic training (literally turned 22 halfway through). Its all really been up from here because Ive had a really great career in the 7 years since then. Still in and in those 7 years, I was able to get my BSN (Air Force paid me to go to nursing school), get a home with the VA loan and now im in a very comfortable spot financially to where some here would say im not actually middle class anymore. My future is also set as my pension will cover most of my daily costs and Tricare for life will take care of most of my medical expenses
Came a long way from working retail
I'm 30 now but at 22 I was very frugal and living paycheck to paycheck and renting a room with 5 other housemates. Was working full time (5AM-1PM) and going to school from (2pm-8pm) - once I graduated with 27k of tuition debt and job searched for months with no job or career prospects. I literally could not find a job pertaining to my major or in a field similar to it.
I joined the Air Force shortly after. Got stationed in many states, had my own apartment, bought my first "certified used" car as I had only been driving absolute beaters, got my masters while serving.
The Air Force has been such a stepping stone. I separated earlier this year because of the toxicity but the military can propel you to places.
I was in the 5th year of undergrad because I was a bad student, working part time in retail, and living at home. I didn't own a car and was generally miserable.
Now, 10 years later, I am a manager at a fortune 500 company, am married, and own a home. Just know that if you work hard, you can turn around your life.
I was working, going to school and got married to someone who lost their parents tragically (lots of PTSD). It was a hard hard time. I’m so glad I never gave up, we’re in a great place now growing our lives
Preparing to return to college after academic suspension, only to go on academic expulsion. Worked two crappy jobs, quit one for the other, then quit that one, started playing in a band and got another job. Band folded, add 25 years and I'm still with that company in a much higher position and in a different part of the country. Paid off most debt except for the mortgage...and I'm closing in on being done with the mortgage (though I kinda don't want to being that the rate is so low). Been stacking retirement savings for years and am scared of the future but it seems I'm doing better than a lot of people.
(edit - I'm 49 now)
I was living at home after finishing college and starting my job in aerospace software. I got my first apartment six months later. Try to live below your means and put as much as you feel comfortable into your 401K. There's a flowchart in r/personalFinance if you like charts. Usually people work for some years before they can max out 401K, HSA, Roth, and then start on taxable. When you're saving for a house, you have to balance retirement savings vs the down payment savings. If you're not married yet, you can wait on buying a house right away.
Honestly I was graduating college and starting my career. I didn't have money to buy a home, I could barely afford groceries and any of my expenses because I didn't make much.
What I did do was start contributing to my company pension. And yes I acknowledge how fortunate I was to have that because most folks don't. But I made sure to at least contribute something.
It was hard, but I managed to save $20 from each pay, and my employer matched it. I know $20 isn't a lot, but my main goal was to contribute something and get it started.
As my income grew, I started to contribute more. I now contribute the maximum amount that my employer will match.
Other things I did as a 22 year old were buy things second hand. New stuff is often more expensive. I used thrift stores, but you can also check out your local FB buy and sell pages, and buy nothing groups.
Try your best to not worry about what your friends and circle are doing. Most of my friends had kids when I was in college. They settled down, which was their choice. I went to college because I knew if I didn't, I had no other support. I needed a job and to get one I needed an education. That was the only option for me. I had already tried getting better jobs (worked in fast food) and it was impossible. I wasn't getting anywhere.
Once I graduated I saw doors open. Obviously everyone has a different path. I'm not saying college is the only option, you choose what works for you. College was what I chose after weighing all of my options.
My 20s were spent working, honing and learning new skills. Taking any opportunity that came along. The first company I worked for offered to pay for courses, so I took some. That helped me get my next job.
The next job I took every training opportunity. That helped me get the next job that I'm currently at. I increased my income each time I moved jobs and leveraged my skills and experience to get those jobs.
I'm 34 now and am looking to buy a home. The money I saved in my pension is going towards a downpayment (not all of my pension, just a portion).
Honestly I was graduating college and starting my career. I didn't have money to buy a home, I could barely afford groceries and any of my expenses because I didn't make much.
What I did do was start contributing to my company pension. And yes I acknowledge how fortunate I was to have that because most folks don't. But I made sure to at least contribute something.
It was hard, but I managed to save $20 from each pay, and my employer matched it. I know $20 isn't a lot, but my main goal was to contribute something and get it started.
As my income grew, I started to contribute more. I now contribute the maximum amount that my employer will match.
Other things I did as a 22 year old were buy things second hand. New stuff is often more expensive. I used thrift stores, but you can also check out your local FB buy and sell pages, and buy nothing groups.
Try your best to not worry about what your friends and circle are doing. Most of my friends had kids when I was in college. They settled down, which was their choice. I went to college because I knew if I didn't, I had no other support. I needed a job and to get one I needed an education. That was the only option for me. I had already tried getting better jobs (worked in fast food) and it was impossible. I wasn't getting anywhere.
Once I graduated I saw doors open. Obviously everyone has a different path. I'm not saying college is the only option, you choose what works for you. College was what I chose after weighing all of my options.
My 20s were spent working, honing and learning new skills. Taking any opportunity that came along. The first company I worked for offered to pay for courses, so I took some. That helped me get my next job.
The next job I took every training opportunity. That helped me get the next job that I'm currently at. I increased my income each time I moved jobs and leveraged my skills and experience to get those jobs.
I'm 34 now and am looking to buy a home. The money I saved in my pension is going towards a downpayment (not all of my pension, just a portion).
2015! Great year. I was at my first RN job. $31/hr with lots of overtime. I was contributing to my 401k, I think about $10,000 that first year, the only year I didn’t max it out, and no IRA contributions yet, but saving for a condo (saved about $10,000 also that year). We went on a lot of camping trips around the Southwest. I moved from NJ to Denver with my then-boyfriend-now-husband shortly after we both graduated college.
My husband was starting his first post-college job as a Subaru salesman in Denver, I think we made $140,000 as a couple that year ($65,000 and $75,000). We paid off his student loans ($12,000), he also contributed to but didn’t max out his 401k. Two years later, we bought a condo for 10% down ($30,000 on $300,000) when we were 24 and 27, in 2017.
At 22 I was working a $14/hr job selling electronic cigarettes to try and keep up with the interest payments on my $60k of student loans. Didn't own a car.
Working a top secret job and vaguely expecting to retire with a civil service pension in 40 years.
I left that job after 3 years with no savings and what seemed at the time like a lot of credit card debt. I don't even know what happened to the small amount I contributed to the pension.
If I could give advice to my younger self it would be this: You don't need that thing. You're not earning as much as you think you are. Start saving now.
Open a high yield savings account and start putting $100 a paycheck in there. If your company offers a 401(k) sign up for that and start contributing 15%. If they don’t offer a 401(k), you can open an IRA with a company like Vanguard yourself and set up a direct direct deposit through your work to fund the IRA.
Just graduated college. Just started teaching middle school science. I definitely do not do that anymore. It’s okay to not know exactly where you want to be or not be there yet at the age of 22. These years are about testing the waters and getting your feet wet. Don’t put too much pressure on yourself.
Saving as much as possible into my Roth IRA and 401k, slowly paying down debt, budgeting, living with roomates, learning to cook, watching personal finance youtube all the time.
We used the first home buyer qualified distribution from the Roth IRA for our down payment when the time came
At 22 I was a recent college grad making $36k at a non-profit entry level role with $10k in student loans in California. This was 2017.
I was living at homeand saving for move out for the first time to rent a bedroom and have two strangers as roommates. A bedroom was all I could afford then.
I felt I had to rent to feel comfortable and confident I could one day be a homeowner. I had to practice covering all my living expenses alone.
After one year of such practice I moved back home for 1 year and saved my down payment.
I did become a homeowner at age 25 with $10k to my name and leaving the nest at 23 played a big role in helping me prepare for that responsibility.
I was making $50k at age 25 and I bought a 2 bedroom condo for $150k that had a $900 mortgage in 2020.
If you want to be a homeowner before 30 you have to simply chase the money by getting higher paying roles every 1-3 years and save as much as possible.
I was taking a break from school to work in what became my chosen field. I was working with a very, very prestigious director on his final feature film. I was the lowest rung on the ladder, but damn it felt good to be there and watch something like that come together.
Started my masters degree in environmental science. Wasn't worried about retirement. Spent my money on rent and beer and made tons of great memories that I wouldn't want to miss!
I was 3 years into my career, making $120k and dumb financial decisions to go along with it like new truck, new boat, and lots of fuel burned going to see girls 😂. 8 years later, still in the same career, although a more advanced position making around $150k and a lot better financial decisions…..and I also come home to the same girl every day!
I graduated with an engineering degree at 22 and had a $32000 a year job in 1982. I focused on job hopping every two years to increase my pay for a bit. Then started my own business which turned out to be lucrative. I’d concentrate on increasing your earnings.
I was in college and working as a tech making just enough money to get by. But I think the real question isn't what the rest of us where doing, but what should you be doing to create a good financial foundation for yourself.
Here's my advice:
1. Contribute 15% of your gross salary to retirement - likely some mix of 401K, RothIRA, and HSA contributions. Do this every year and you will be solid. You are starting young and have time on your side. Use it to your advantage.
2. Create a budget and stick to it. Make sure you live below your means. Stay out of consumer debt. Leave room in your budget for fun, but resist the urge to keep up with your friends' spending.
3. Build an emergency fund - 3-6 months of living expenses, keep in in a High Yield Savings Account
4. Save a down payment for a house. Depending on your time frame for buying a house, you might want to put this in a HYSA also or a brokerage and invest in index funds.
I was fucking off, working in fast food and partying. I didn't have a degree, barely had a roof over my head and lived off of ramen noodles.
Now I make 6 figures, due to a combination of luck and networking, with a home, a family, a 401k and savings. 22 wasn't wasted entirely - I learned how to talk to people, made friends and found who I was and wanted to be. But I stumbled into all of it. Hell, I'm still stumbling even though I'm doing alright now.
My brother is a lot more like you. He owned his home at 23. He works for the gas company as an inspector. He worked his way up from the time he was 18 from a contractor position. It was really tough and he worked hard. I admire the hell out of him for not quitting, because I know there were times that he felt like it. He qualified for a loan and just went for it.
I'd advise waiting for the market to calm a bit more. You're young and have So Much Time. Interest rates are okay and stabilized, but there is a market downturn coming. Home prices are already dropping in Florida, so that's a leading indicator that the rest of the country will follow soon.
That you're thinking of investing your money wisely at 22 speaks volumes about your wisdom. But don't constrain yourself too much and have fun!! We only get one life to live.
I was still partying/drinking my ass off being reckless working shitty jobs. Didnt get my life in order for another 10+ years. But now im doing decent, far from where I want to be but also far from the bottom.
I was still in college. I graduated at 24 (engineering) and it took about 2 years to get my first job. Fortunately, I had no debt. So that was my starting point. I'm 58 now. Hard to believe my 40th HS reunion is this year. I've changed jobs 5 or 6 times, been married 23 years. We started out making a combined $80K or so with about $100k in investments at 35. We are $2M net worth now ($1.3M invested) and making good money. All we did was stay out of major debt and contribute to our 401K accounts every month. We probably averaged about $15K/year in contributions over most of our married lives, but the past few years we have been able to hit them pretty hard and our house will paid off this year. Work your career, start investing now. Even if it is just a little. Don't believe it when the bank says you should overspend on a home. Find a partner that has their head on straight and leans into living a financially responsible life.
Extending college by a year to study abroad because I didn’t want to graduate and had no idea what to do with my life. Threw most of my savings into adventures abroad and wouldn’t change a thing. You have your whole life to worry about finances and “get it right.” Enjoy being young and invest in yourself a few years.
Just graduated from college into the recession of 2008. Making $27,000. Took any job I could get b/c those student loans weren't going to pay themselves. Also started working events on the side and found my passion in that field.
I was still in college working towards a Bachelor’s in Computer Science while working part time in food service. I graduated at 25 and bought a house at 26 (in 2016).
It’s a very different market now with inflation, but I would use your degree to find a job that pays well or move up at your current job. Start to invest your money and save until you are comfortable investing in a home. Everyone’s timeline is different.
I was doing retail and freelance photography, barely making rent as a roommate in an apartment
Now I'm in my 40s and stable with a 9-5, still not a home owner, but that's more due to local costs than anything
At 22 , I graduated from clledge and worked in many restaurants and partied like Anthony Boudain in Kitchen Confidental. By 26, I was transitioning to tech in 1984.
Maximize 401k and Roth and have a safety net fund and then live and enjoy the rest. If you automate those items you won’t notice it missing because you are living off net
Best decade for compounding is 20s
Point is automatic withdrawals to 401k , Roth and savings and then enjoy the rest
I did that, bought house, paid it off and can retire any time
Did not stress about budgets because lived off the net post money going to those funds
That is exactly what i did at 22
Graduated with engineering job and started career at 22
Married at 26
Bought house at 27
Daughter at 34
Paid off house at 39
59 now, only working because I like working on AI Gpus chips as an engineer
Could have retired 10 years ago which takes the stress off working
My extended family had no money, did it on our own
Teaching English in Japan straight out of college. Back then, you could make a very good living doing this, travel the country and around Asia, and still send money home. I used the money I saved to go to grad school, and my language skills landed me jobs in Hawaii and in international sales.
At 22 you should be talking to girls and enjoying life not worrying about this shit. Once you start working in the real world you don't get to go back.
At 22 I was working part-time as a cashier making minimum wage, I was lucky if I could scrape by 8-12 hrs a week. Most weeks I was making around $100. I quit my job and was jobless for about 4 months.
Now I'm a self employed petsitter averaging $45k a year. Its not WOW money but I'm happy and Im doing what I love, I'm in charge of my practices and my hours. I can work as much or as little as I want. This June was my first 5 figure month, and I'm looking to recreate that and consistently achieve 5 figures a month!
I bought my house at 21. I started at 18 by saving and opening multiple lines of credit to build my credit history. Got my job at 19, which helped with work history. By 21, I had 10 lines of credit and got a $200k loan at 2.75%. Now, at 24, I also have an auto loan.
At 22 I was a full-time student that had multiple years until I had my first internship. Starting sticking money into a Roth IRA at 24. Graduated at 25. Immediately started building up an emergency fund and funding my 401k. Bought a house that was within my means at 29(I started paying extra on the mortgage early, but the rate is low so I stopped because I can make more in a savings account). I'm 33 now and without increasing my income or my contribution levels, I should be able to retire at 55 with 80% of my income (which is quite comfortable).
The early Roth IRA contributions have grown a ton. Having the e-fund helped make sure I didn't have any high interest debt. My income increased faster that my pessimistic plan had been and so I can easily contribute more now than when I was younger. When people say that the early investments make a big impact, they aren't kidding. However, if you don't spend much money on things that are frivolous to you(it is VERY person specific what falls into this category) - things aren't strictly so bleak as needing to do EVERYTHING right to hit normal goals. So you can probably spend a bit more than the paranoid miser in your life believes. Also keep your investment costs low with a sensible (appropriately aggressive but diversified) portfolio.
I was still in school at 22. Did 4+1 years to get a masters degree.
25 now and work at a Big 4 accounting firm as a fintech consultant. 92k salary with $30k in investments and over 20% already paid off on my student loans. I’m thinking in the same boat but I’m super aggressive on paying off all debt while being aggressive on my long term retirement accounts. I keep my living expenses low ($650 per month on rent in Chicago land) but I do eat out quite a bit because my gf and I enjoy doing so as dates - plus we don’t have a dish washer (lol).
I would suggest u live well below your means and max out all 401k contributions and ROTH IRA accounts each year. Might mean u have less disposable income, but it’s well worth it.
I was working two PT jobs, one as an events manager at a college and one as a server in an Italian restaurant. I was in grad school (at the college I worked at) to get my teaching degree. I lived in an apartment with two roommates and had just realized I needed to start saving money because I was living paycheck to paycheck. I hadn’t yet started saving for retirement 😬
Fast forward to 33 and I work in HR as a Business Partner, married, own a home, and living super comfortably with two kids and well on our way to retire comfortable.
@ 22? I was throwing chain on a drilling rig in west texas. Making pretty good money. Still Got all my fingers and toes. My 1st house was bought from my father, who didn't like my GF at the time. So, he put it all together, got me a bank that'd finance me and sold me the house in 2005 for $50k that he had bought in 1993 for $25k. He bought a place in the country with the money.
At 22, I was lost. Dropped out of college. No job prospects. Living at home, mooching off of my parents. Doing occasional odd jobs, but nothing much. Severely depressed.
That was more than 35 years ago. Now I'm retired and very happy with my life. I do miss work sometimes.
Saving almost all of my money.
I was in an apartment that was in a special historical restoration program. It had an income cap, and the rent was $370 a month for my half with heat/AC, electric and water included. My roommate and I had ridiculously cheap internet, and I had a basic cell phone. I never ate out and would take $100 from every paycheck and divide it between a few containers for various expenses. Groceries would cost me about $30 a week. I ate mainly produce. The only real luxury I allowed myself was a gym membership.
That was 12 years ago. I have working retail and would be for 6 more years, hated that shit. I was doing online school, I had a 1 year old and just trying to get by.
You’ve got a hell of a head start. You’ll be fine, make some plans, sure, but don’t forget to live in the now sometimes.
I was an idiot kid chasing tail with a beer in one hand and my pecker in the other. Needless to say I survived it, graduated from college and settled down. Learn to save your money and embrace the miracle of compound interest. About to retire soon and am financially secure.
I was in grad school. I lived with three roommates and was driving a beater. I worked in a special needs school during the day and attended classes four nights a week. I didn't have a lot of spare money. The rest of my old college friends were young professionals who went out regularly and bought big toys like cars and vacations. That was a rough year.
Living paycheck to paycheck with a net worth of about -$25,000, definitely wasn’t saving any money. My financial situation didn’t really change until I was in my 30s, I am in a much, much different place now at 45.
Well good on you for even THINKING of this. At 22, I was working in foodservice and racing my bike. While I don't regret it, I do wish I'd started thinking about saving, and doing so in my mid-20s instead of waiting until my 30s.
Don’t sweat it as much. At 22 I was a bartender with no degree and I got married that year. We had no money at all. Hell, I even had to finance a $44 vacuum. I did believe in myself and my wife believed in me too. Forty years later and I’m worth more and making more than I ever thought possible. Believe in yourself and do the best you can and I still believe that you young people can make it and do well. Good luck.
Working a shit “junior account executive” (aka glorified admin assistant) job at an ad agency for abysmally low wages. Living with my parents until I saved enough for a crap apartment.
After a few years, I decided if I was going to work that hard, I was going to make money. Went back to school, got a job in a different field, and bought a house when I was 30. Didn’t start saving for retire until I was 28.
Your first step should be to leverage your job experience into a better paying job every few years and don’t let yourself get dead-ended in anything that doesn’t offer opportunities to advance until you are where you want to be income-wise. At the same time, max out any 401k you have to the extent possible, or a Roth IRA if you don’t have a 401k (and ideally both if your income allows it).
Saving for a house comes after all that.
At 22 I was a “lead” word processor at Boeing. I had 2 lazy as fuck women “working” for me and an asshole of a boss that always wanted me to work overtime on Saturdays and/or Sundays. I was young, clueless as how to handle difficult people, and completely out of my element. The final straw was when my ridiculous boss told me that if I didn’t do the overtime, he could fire me. That made me quit. I quit and found a much better job and what a relief!
That said, these days at 58 I could handle that miserable little crew with one hand tied behind my back and a blindfold on.
I was on my 5th year of college because I changed my major 3-4x and didn’t know what I wanted to do until my 3rd year of college.
I had a scholarship luckily and worked 32 hrs a week. I still tried to have a social life and it was a lot of juggling.
I was saving as much money as possible to move to another state, establish residency, take some prerequisites for the grad program I wanted to go to and volunteering some.
After college I moved out of state with $15k saved up, had 1-3 low pay jobs while taking some prereqs and volunteering. Then I got into grad school.
I didn’t get started into my ‘real’ career until I was 27. It use to bother me I was ‘behind’ compared to peers who finished college and got jobs right away. Now I’m doing fine, enjoy my job, family, and live comfortably enough. My only regret is not being aggressive about putting more than bare minimum into retirement when I started out at 27 or even earlier. Now that I don’t have any debt I’m throwing a lot more into retirement.
Check out the personalfinance subreddit and read the prime directive will have all the info you need.
This will include basic things like making a budget, figuring out where to save money, establishing emergency fund, and retirement.
Grind for the future job, career and life you want on your twenties. There are some rough patches but it’ll smooth out. Stay gritty.
I also had only one credit card back then that I used like a charge card and paid in full every month only for groceries and gas. This helped me establish credit incase I ever needed it. The only time I needed credit was when I bought a house.
Also don’t ever buy a new car. Buy a used one in cash and make sure it’s reliable. I bought a new car once in my twenties(cash) that immediately devalued. I should have just bought the used model of the same car and saved that money or put it into retirement
I bought my first house at 22. Was still going to university but got a great paying job and literally purchased a home after a few months with almost no down payment. Stumbling through work and finishing up collage and got married, now I’m hoping to rent this home and buy my next property in a different state at 26. Then rinse and repeat after a few years. If you have even a decent paying job, if I were you I would lock down on a house ASAP and everything else falls in place with faith and hard work.
I’d just finished trade school after deciding college was too expensive. I was single and living paycheck-to-paycheck but somehow I pulled myself together and bought a house with a low down payment loan program. It was so scary and stressful but it ended up being a great decision. Really helped put me on the right trajectory.
I started working age 21. I eventually committed to saving $ in mutual funds and using that for my first home downpayment. First house purchased 9 years later, not because it was expensive but because work, life, and disposable income were too unstable until then. So my recommendation: minimize costs to maximize disposable income, dump as much cash as possible into any good savings vehicle, make a habit of saving by "spending" it in savings as soon as you get it, and don't exchange yield for risk. If you can move your career forward through education, drive, relocation, anything, you're going to make those sacrifices pay dividends, literally. I've been thru 3 career changes, have multiple degrees, lived in several states & countries, and frankly, if I could whisper into my 21-year-old ear back then, I'd just either keep quiet or tell myself to keep driving forward.
I was a college dropout delivering pizzas, getting hammered every night and chasing tail. It was fun while it lasted but glads it’s behind me. I was a few years behind on growing up.
I had dropped out of university, moved to another state, and worked a dead end part time job. The relatives i stayed with were emotionally abusive and so I moved out and lived in a shared house.
I basically made enough to pay for my share of the rent, car insurance, and food. Did nothing but play video games, eat junk, and watch anime/movies/TV shows when I wasn't working. I had no friends aside from my coworkers and never went out. I'm pretty sure I had depression, but never realized it.
35 now and I'm doing leaps and bounds better now than when I was in my early to mid 20s. Looking at me now, you wouldn't believe me if I told you that I was no-life-ing it for a few years in my 20s.
To be completely honest though, that was also the time I had the most amount of freedom in my life. I sometimes wish I could go back to those simple times where I had little to no responsibilities and had no obligations to anyone other than myself and just no-life it for a few days.
Get yourself into hedge funds or something. Live with parents, stay out of debt, avoid lifestyle creep… bank as much as you possibly can for a down payment!
I was working full time at a corporate healthcare company commuting 30min each way, living with my best friend, and dating my now husband. Wish I knew about investing back then, if I could go back I would start that asap at least to get the company match, then save 3-6 month emergency fund, save for down payment for a house, and then continue to invest as much as possible.
Join the military, preferably the Air Force. Paid education and guaranteed job if you don’t do stupid stuff or get physically disabled medically. Medical care is free, do 20 years then health insurance is essentially free. Paycheck for life. If you stay single with no kids and plan it right you’ll never have to work after 20 years.
At 22 I was hopping around a few jobs but actually also ended up at a bank. Paid me peanuts but I didn’t know what else to do. I ended up being recruited to be a claims adjuster and I’ve been working in insurance ever since. The pay increase let me buy a cheap short sale condo and I just always put up to the match at work into my 401k. If you start now you’ll be fine. Housing is a mess now though, I would not even think of buying a house right now
I was working my way through school after having sat out multiple semesters and had run out of financial aid so I got a job with the university that gave me two free classes per semester that I could attend even in the middle of the day. Absolutely hated school, but do not regret busting my ass to finish a BS.
First, this wasn't due to my then wife or me, it was due to things being much better back in the day than they are now, at least in terms of the cost of goods compared to regular salaries.
At 22, my then wife and I bought a brand new condo and it was really nice too, our unit and the development as a whole
I wasn't working as I was in grad school. My wife was a 1 year elementary school teacher and we were easily approved for the loan for our condo.
About a year later we bought a new Honda Civic, again just on my wife's teaching salary as I was still in grad school.
I'm closer to 60 now and our 3 children are all in their 20's and they can't do what their mother and I did.
Their mother and I couldn't do this today either.
I feel so badly for all of you younger people staring out in this day and age.
We were regular people, it's not that we were great. We could do what we did because of the times, things were so much better decades ago, the prices and cost of living weren't so out of whack with normal regular salaries.
We lived well. We went out to eat, traveled, bought furniture for our condo, had a season pass to a large nearby amusement park etc.
A few years later we bought 40 acres and 3 years after that, at 27 years old we moved into our new home we had built on our 40 acres.
We had hope and dreams because it was possible to achieve one's hopes and dreams back then.
Again, I couldn't do what I did in my 20's back then if I were in my 20's today. I couldn't.
I wish all of you younger people starting out today good luck.
Working full time as a journalist and applying to law school. Four roommates in a little house, to save on rent. Riding a motorcycle, saving up to buy a car.
Got married, had our first kid, bought our first house. Graduated college and was working my first full time professional job just before turning 22. Not wasting any time over here.
At 22, I was unemployed and living at home. I focused on learning about personal finance. I read articles, listened to podcasts and combed through Reddit.
Advice for age 22: Build your credit now. Invest in 401k immediately. Build good financial habits- that’s the backbone to all personal finance goals.
Thoughts on buying a home: Start with learning about the costs of home ownership: Mortgage, closing costs, maintenance, taxes, HOA fees, furnishings, repairs. Figure out what you need in savings and recurring income, then work backwards on what you need to get there.
I was going through a separation from the marriage at age 19. After that, I put myself through college with scholarships and loans, which I subsequently paid off. Then, I was a programmer/analyst for several years. lmk if you want to know more. I am now the parent of a 21-year-old.
left my country, was my first year in USA fresh off the boat. Worked hard, put myself through college and now have 200k Job, house and retirement. Alhamdullilah!
I had jst graduated (1st generation) with no student loans, and started my 1st career job. Paid for a wedding, got married which also meant moving out for the 1st time and being the breadwinner because my husband (22 at that time too) was in school full time. Also bought a brand new Corolla which was my only debt at that time and I ended up paying it off early. About to turn 32 with no debt except our mortgage and over $550k net worth. We've always budgeted and set targets for financial goals. Never spent more than what we could pay cash.
I was finishing my bachelor's and traveling nonstop around Central America, like Guatemala, Belize, Costa Rica, and Panama, while staying in $30 per night hotels or crashing on couches. I had a 1960 vw bug with a hole in the passenger floor. That was weird. But we pissed through it while driving.
School for accounting and working the job which I am now the owner of. I had met my now wife the year earlier so I spent all of my time between working, going to school and going out with my girlfriend since I didn’t have many expenses at all.
Workin a shit job, partying every weekend and DJ’n at local raves living life to the absolute fullest i could financially afford to, breakin hearts and getting my heart broken lol. Now im 31, woke up last week and no longer had feeling in my finger tips and toes. Guess i partied too hard and its finally catchin up to me lol smdh. All and all no regurts pretty much ready to check out this bitch at this point lol. Brain is fried i make good money but absolutely hate my job
Lol I was not nearly as well off as you at 22, for sure. But it's been a long time since then so here's my advice for your situation:
1. Max your contributions to your 401K and HSAs if you have them. These should be available to select via your company's HR portal. Probably Workday. This will also lower your tax rate, which is nice.
2. Open a HYSA. Set a savings goal. $200 a paycheck or however much you are comfortable with. You should have at least 6 months salary worth of savings as an emergency fund.
3. After one & two, relax. Take a vacation someplace cool. Maybe meet somebody.
Just got my AA and transferred to a large university and restarted a science major. Van wilder plan lol. Flunked out of community college because I didn’t care or know how to study, etc. also marijuana
At 22, we were having our second kid, I was working in fire and causality insurance with a degree in business admin, and my wife was waitressing. We had zero savings. What I was doing has nothing to do with good advice to give you.
Pay yourself first. 10-15% of your pay at a very minimum immediately goes into your financial future account. Pretend it doesn't exist, you don't dip into it unless absolutely needed. Build up a couple months worth of expenses to help float you through minor financial woes like getting laid off or car repairs. If your employer matches on a 401k, pay into it enough to get the full match. Next, try to fully fund a roth ira. Then try to fully fund your 401k. Then try to put money in an index fund. After dome number of years, you will have saved up for a down payment on a house.
Pay off your credit card every single month, but do use it. Charges are easier to contest and you can earn points.
And more importantly: invest in your health. Be active. Do mentally charging activities. Become an amateur-for-fun athlete or whatever activity you like now and maintain that fitness throughout your life. A bad back or knees in your 30s or 60s sucks; push that as dar away as possible. Easier to fix that while young and maintain than to fix when older.
I'm 22 also. Graduated 1 year ago with an engineering degree making 75k. Got 2 roommates, got a second job on the weekends. With the second job and production bonuses, I'm getting about 85k/year pretax. My split of rent+utilities is around 600/month with the roommates. Driving a beat up 07 pontiac my uncle gave me for free because if I didn't take it it was going to the junkyard for constantly breaking down on him. Learned how to work on cars with it.
I also made sure to find a factory out in the middle of nowhere so a 1000 sq ft house on a quarter acre lot is about 90k. Saving every penny, (about 30k a year straight into investments/high yield), so I could easily have a small, paid off house at 26. Probably gonna save up for something bigger though.
I know this isn't realistic or possible for everyone, but that is my route. I figure the harder I work now, the less I'll have to work in my 30s. Save everything, enjoy life later, because I'd rather that and leave my family a bunch of money if I die young, then enjoy it now and spend the rest of my life paying it off. I want to leave something for kids if I have them. So thats one route, hopefully it can give you some ideas.
I had just graduated college and started my career. Mining engineer, went to work in underground coal making 84k as a supervisor. Hours were excessive, but the fantastic start to my career was absolutely worth it.
At 22 I started grad school, I made $15,000 a year and found a studio apartment for $500 a month that was about 20 feet by 15 feet big, and saved about $300 a month and did not have a car and lived off of cheap food like ramen, pasta, no meat ever and free food they gave out at school.
Rocky Mountain National Park working trails and meeting my future wife. We pursued Masters degrees for two more years and really didn’t start adulting until 26.
Enjoy your 20s but take positive steps in the direction you want to go. Be decisive and don’t waste your time.
Same thing as you, had just graduated college and just got my first "big boy" job as a Business Development Representative. You've graduated with a valuable degree and have a full time job at 22! You're doing just fine!
With your goals of being a homeowner and retiring, if I can share some advice :
- If your employer offers a 401K, make sure you contribute enough to get the full employer match (at minimum). If your employer doesn't offer a 401K, I'd open a ROTH IRA and try to put at least $100-$200 bucks a month in there. The goal here is to max out your yearly contributions to those retirement accounts as your income grows. Starting young on these is KEY to a great retirement.
-Do your best to rent a place that's cheap. It probably won't have granite counter tops, a pool, a gym/sauna, etc. but if it allows for you to save money every month, it's worth it. You NEVER get a single cent back from renting. Make sure that while you do have to rent, you're not spending an arm and a leg on it.
-With these savings (not including the money for your retirement accounts listed above), create an emergency fund. The goal here is to have at least 6 months of living expenses in here incase you lose your job. As you cross over the 6 month mark, this money now becomes your money for a down payment on a condo/apartment/townhouse/house. Keep this money in a high yield savings account and not in ETF's or Mutual Funds, to ensure it earns good interest but also ensure that you don't lose 30% of your hard earned cash if the market tanks.
Again, you're in a great spot, and just keep at it! Owning a house and retiring early don't happen overnight. Stay the course and you'll be just fine :)
Switching degrees because I didn’t like what I was doing. I’m now 26, finished university, did a bootcamp and am now in my first internship for 300€/month. Could be better, but it’s what it is.
I dropped out of my last semester of college. I was planning to go to medical school. I had taken the MCAT and scored well. I took all the classes, did all the extracurriculars I was supposed to and so on. Then in March before the summer I was set to apply, I had a friend pass away. It changed my perspective on my life, and if I’m being honest with myself, I felt like it gave me a weird form of permission to make a decision I had been wanting to make for awhile.
I floundered for several months before eventually deciding to get a job and a couple years later finishing school. At 28, I’ve now been fortunate to find myself in a VP position with an upstart medical device company I’ve been with for 5 years with only more opportunity in front of me.
It’s kinda funny how life can work out. Sometimes I miss the days when I was 18 and knew everything. The Dunning-Kruger effect is very real.
I'm 22 right now! I'm making 50k as a waitress, 30 hours a week, saving for a downpayment on a house now that I don't have many expenses . Studying accounting
Being a dumbass kid in a local motorcycle club, doing drugs, and getting to fights at bars. Sounds like you're in a much better place than most at your age.
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On a submarine somewhere in the south China sea.
I was also on a submarine, but in the Persian Gulf. My first deployment.
I was a West Coast submariner, so of my 3 deployments, all port calls were asian countries.
Yeah I was east coast, and we went to Centcom both my first 2 deployments. On the way there we got to pull into Spain, France, Sicily, and Crete. Then in Centcom of course Bahrain, Dubai, Fujairah, Jordan, and all the way down to Diego Garcia. Later I was on a sub tender in Guam. Got to do some nice flyaways to Japan like 4 times and then Singapore.
Nice! Can't count how many times we ported in Guam lol. We stopped in Diego Garcia once, and I would have rather stayed underway it was that bad, lol.
Badass
I guess so... 12 years later, I'm now sitting on the toilet at work scrolling reddit. How far I've come lol.
Still launching torpedos, so guess not much has changed.
Now that was a good one!
Name checks out.
Im 26 now. I had just graduated college, got my first "real" job, making $55k. Had $120k in student loan debt. Not much thought about owning a home or retirement. Did tons of travel the next 2 years, met a girl and got an apartment together. Life was fun and exciting. Paid my loan minimums and saved a tiny amount. TMI but I'm in a better financial place but worse emotional place now. Enjoy your youth. You have your whole life to worry.
You’re 26. You still have your youth to enjoy. (Source: I’m 40 and have chronic pain now. I’m telling you, enjoy it while you have it.)
You're right 😂 speaking to myself as well
Someone will come along and say they’re in their 60s, you still have your youth, enjoy it. I think a better strategy is to appreciate that we are all getting older, and it’s important to recognize, enjoy, and soak up what we have now — regardless of your age — while knowing that old age, sickness, and death inevitably march closer each passing day. Because someone who is 80 will soon be along to tell off that 60 year old :)
I was in college I bartended for 8 yrs, 40+ hrs a week Finished school and worked 2 jobs for 3 years. Paid off my loans 3 yrs later.
out of curiosity, how much debt do you have now (college wise)?
Only $30k! I switched jobs twice and doubled my income which really helped 😂
omg congrats! you've been working hard obviously!
At 22 I was spending my money on takeout, cigarettes and gambling and having over $50 in my checking account after bills and not overdrafting again was a great day. Look at the financialindependence or personalfinance sidebar. Having a goal of owning a home is great, but right now at age 22 the most important thing you can do with your money is invest it in index funds or low expense ratio target date funds in tax advantaged retirement accounts and let compound interest do its work. If I had approached money back then the way I do now, I'd probably be retired (mid-30s).
Working a dead end warehouse job, living paycheck to paycheck, and hating my life lol Glad that’s all behind me.
Dicking around making music all day in a rehearsal loft smoking weed and taking acid. Didn’t really get my shit together till my late twenties.
I was working at GameStop as an Assistant Manager. Made like, idk, 32k or something like that. If that. Left that the next year and started working with my parents, then into software testing, then into sales where I am now at 33. Shit isn’t linear. I really didn’t have anything going for me until a few years ago. You’re doing fine young man!
Drinking beer and riding Harley’s. You’re doing great if you’re even thinking about retirement lol thankfully I didn’t lose my job at the time cuz I’m still working here and it’s been great now that I’ve got my head screwed on correctly.
I was starting my first year teaching. I wasn’t making much, and wasn’t budgeting much, BUT I started investing from day 1, and it’s made a huge difference. Things I wish I also did on top of investing. Simplified order of operations. Finish one before the next: - gain employment - budget your expenses and don’t overpay (way simplified, but basically know where your money is going) - make sure all bills are paid - save 1 months expenses in a savings account (so after an emergency you don’t reach for a credit card) - pay off all high interest consumer debt (credit cards) - put 15%+ of your income into your job’s 401k - increase emergency fund from 1 to 3-6 months expenses. - when your emergency fund is needed, repeat that step until it’s built back up for the next one From THERE you’re set to get fun. Save up for a car, house, wedding, vacation, whatever. Even being on this path puts you ahead of 90% of your peers, even ones that will make 2-3x what you’re making.
Unfortunately graduating with a liberal arts degree. Thankfully, between fafsa and bright futures, it was a free degree. But one that set me back financially 4-5 years.
22 I was only concerned about getting laid and where the party was at. Life changed at 28. If you are thinking about the future already, good job!
I graduated with a degree in finance in December 2020. At 22 I was working for a defense contractor, didn’t really like it and wasn’t paid well so I applied a ton of places and found a good analyst job at a Fortune 500 bank. I’d say the most important thing at 22 is get into good spending and lifestyle habits. That’ll carry over as you move up and allow you build wealth but also have a life that you enjoy living and are proud of.
I was working a shitty supermarket job and going to school part time for a Bachelor's in Accounting. I didn't even have a car yet. You're doing fine. Contribute to your 401K to your company's match and start shoveling your money into a HYSA. Get a roommate if you can.
Working two jobs trying to save as much money as I could to go back to college after taking a break and being put on financial aid suspension a couple years before. I did successfully go back the next year and graduated a couple years later with an Environmental Health Science bachelor’s. Wasn’t able to buy my first home until I turned 30. A couple years later I got serious about saving for retirement. Obviously the earlier the better, but everyone has their own pace and their own life to live. You have time.
On my 22nd birthday, I was halfway through a master's in philosophy. I did it to help me figure whether to study law or get a PhD in philosophy. And thankfully, I got a full tuition scholarship. By then, I was pretty committed to getting both degrees. 7 years later, I had both degrees, and I landed the precise type of job I wanted. The key for me was planning and just putting my head down through the rough periods. It worked out pretty good.
What’s your salary?
$43k with a potential $1500 bonus every quarter. I’m working on getting my NMLS license and hopefully transition into a commercial banking role as a credit analyst or underwriter
If you’re looking into credit analyst roles I highly suggest you look into surety underwriting roles. Please. Honestly. I work like 20 hours a week, mainly going to lunches. My first gig was $60k a year and in 10 years I now make about 215 a year. They even have trainee roles that will convert into full time that teach you everything you need to know, though these types of positions will come around closer to nextspring. Look at the top10 largest surety companies https://bestsreview.ambest.com/displaychart.aspx?Record_Code=328160&src=43
If it’s okay, I am going to DM you about this!
You’re doing great, man! I didn’t make that much until I was well over a decade older than you Emergency savings keep at 6month minimum in HYSA (can just add to this for house down payment if you save aggressively/fast) Contribute to 401k in index funds. Try at least 10-15% of income at first while you’re saving for house down-payment. Max ROTH IRA every year if you can (also index funds like VTI) Save anything extra each month for down payment. Many places will take 3% down but also consider “closing costs” & costs of any immediate repairs.
graduated with my bachelors in finance working at a job i hated
Graduate school.
Jobless for year plus living with my mom. I basically spent every waking moment online or playing video games. My mom was pretty supportive but also enabled me to be NEET and I kept doing it for another year and eventually got a job when I was 23. I’m 34 now and life couldn’t be more different, I don’t miss doing nothing for months on end but I really should have appreciated the time and just chilled the fuck out instead of being constantly racked with anxiety about my future. You don’t have to stress or worry constantly, just make smart financial and social choices, take care of yourself and your loved ones and enjoy the ride. The way I see it is as long as you’re doing what you can to make sure you’re able to seize opportunities when they present themselves and don’t beat yourself up for not doing enough you’ll be fine. Sure some people are doing “better”, by their definition, at 22 than others but most are doing worse.
Business Analyst
Working overtime, throwing money into my 401k and hysa as much as possible while interning over the summers.
I had just graduated and started new job. You’re entering a transitional phase in your life. Work hard to get good at your job. Try to observe which career paths interest you and make a plan to get there. Hard work in your 20’s will set you up for a successful 30’s. Also save aggressively into your 401k, Roth if you can. The money you put in during your 20’s is foundational when it comes to compound earnings. You will thank yourself in 10-years if you do that. When it comes to a house save money for a down payment but I wouldn’t focus too much at that age. You may end up relocating within the next few years you never know.
Graduating college, drinking beers and stocking grocery shelves.
Maxing my TSP and IRA while paying off ~$30k in student loans….by starting my budget with the big blocks of $14k/24 and $5k/24 and $500 in loans and living off what was left. Learning the base skills to do my job well. For me it was project management and intrapersonal relationships, for you it’s probably sales, understanding your compensation structure, and what your highest value products are to sell. If you’re getting $200 commission for every client you set up with merchant services, but $20 for opening new accounts, absolutely open the new account for someone who walked in for it. Build that relationship. However, when someone wanders in because their debit card is broken and you realize they’re running a small business but only take cash and checks, pitch a merchant services meeting because it will simplify their bookkeeping/y’all are charging less than square/it levels up their business account and their fees will be lower. It takes an hour to open a new account. It takes ten minutes to set a merchant services meeting (and five more to follow up and make sure the meeting will happen). Know where your money is coming from and prioritize that. Spend some time over at r/personalfinance and figure out what you’d say to that person at your desk. How do you work your tools to show them how much money they save by opening a balance transfer card? How do you show value for refinancing their mortgage? Why would opening a HELOC now, even if they don’t use it, help them when rates come back down? Know your products. If you don’t stay in banking, the sales skills are invaluable. If you move up in the bank, the product knowledge is invaluable. And if you jump ship completely, knowing how to figure out a new corporate system and structure is invaluable. Learn as much as you can.
Working full time in data science and getting a masters lmao. Conversely my husband had just graduated undergrad and was working at a gym blacking out most nights 😂 we’re both doing just fine now. Don’t stress too much, gotta enjoy life.
I was busy being overseas in the Marines.
I was actually in Air Force basic training (literally turned 22 halfway through). Its all really been up from here because Ive had a really great career in the 7 years since then. Still in and in those 7 years, I was able to get my BSN (Air Force paid me to go to nursing school), get a home with the VA loan and now im in a very comfortable spot financially to where some here would say im not actually middle class anymore. My future is also set as my pension will cover most of my daily costs and Tricare for life will take care of most of my medical expenses Came a long way from working retail
Currently 22. Just enjoying life to the extent that I can while saving a ton for early retirement.
Wrapping up my degree and starting my first corporate gig
I'm 30 now but at 22 I was very frugal and living paycheck to paycheck and renting a room with 5 other housemates. Was working full time (5AM-1PM) and going to school from (2pm-8pm) - once I graduated with 27k of tuition debt and job searched for months with no job or career prospects. I literally could not find a job pertaining to my major or in a field similar to it. I joined the Air Force shortly after. Got stationed in many states, had my own apartment, bought my first "certified used" car as I had only been driving absolute beaters, got my masters while serving. The Air Force has been such a stepping stone. I separated earlier this year because of the toxicity but the military can propel you to places.
I was in the 5th year of undergrad because I was a bad student, working part time in retail, and living at home. I didn't own a car and was generally miserable. Now, 10 years later, I am a manager at a fortune 500 company, am married, and own a home. Just know that if you work hard, you can turn around your life.
I was working, going to school and got married to someone who lost their parents tragically (lots of PTSD). It was a hard hard time. I’m so glad I never gave up, we’re in a great place now growing our lives
Preparing to return to college after academic suspension, only to go on academic expulsion. Worked two crappy jobs, quit one for the other, then quit that one, started playing in a band and got another job. Band folded, add 25 years and I'm still with that company in a much higher position and in a different part of the country. Paid off most debt except for the mortgage...and I'm closing in on being done with the mortgage (though I kinda don't want to being that the rate is so low). Been stacking retirement savings for years and am scared of the future but it seems I'm doing better than a lot of people. (edit - I'm 49 now)
Alcohol, pot, LSD, and mushrooms mostly. Oh, you mean for work? I was working help desk in a stuffy corporate office.
On the road with my band
I was living at home after finishing college and starting my job in aerospace software. I got my first apartment six months later. Try to live below your means and put as much as you feel comfortable into your 401K. There's a flowchart in r/personalFinance if you like charts. Usually people work for some years before they can max out 401K, HSA, Roth, and then start on taxable. When you're saving for a house, you have to balance retirement savings vs the down payment savings. If you're not married yet, you can wait on buying a house right away.
Honestly I was graduating college and starting my career. I didn't have money to buy a home, I could barely afford groceries and any of my expenses because I didn't make much. What I did do was start contributing to my company pension. And yes I acknowledge how fortunate I was to have that because most folks don't. But I made sure to at least contribute something. It was hard, but I managed to save $20 from each pay, and my employer matched it. I know $20 isn't a lot, but my main goal was to contribute something and get it started. As my income grew, I started to contribute more. I now contribute the maximum amount that my employer will match. Other things I did as a 22 year old were buy things second hand. New stuff is often more expensive. I used thrift stores, but you can also check out your local FB buy and sell pages, and buy nothing groups. Try your best to not worry about what your friends and circle are doing. Most of my friends had kids when I was in college. They settled down, which was their choice. I went to college because I knew if I didn't, I had no other support. I needed a job and to get one I needed an education. That was the only option for me. I had already tried getting better jobs (worked in fast food) and it was impossible. I wasn't getting anywhere. Once I graduated I saw doors open. Obviously everyone has a different path. I'm not saying college is the only option, you choose what works for you. College was what I chose after weighing all of my options. My 20s were spent working, honing and learning new skills. Taking any opportunity that came along. The first company I worked for offered to pay for courses, so I took some. That helped me get my next job. The next job I took every training opportunity. That helped me get the next job that I'm currently at. I increased my income each time I moved jobs and leveraged my skills and experience to get those jobs. I'm 34 now and am looking to buy a home. The money I saved in my pension is going towards a downpayment (not all of my pension, just a portion).
Honestly I was graduating college and starting my career. I didn't have money to buy a home, I could barely afford groceries and any of my expenses because I didn't make much. What I did do was start contributing to my company pension. And yes I acknowledge how fortunate I was to have that because most folks don't. But I made sure to at least contribute something. It was hard, but I managed to save $20 from each pay, and my employer matched it. I know $20 isn't a lot, but my main goal was to contribute something and get it started. As my income grew, I started to contribute more. I now contribute the maximum amount that my employer will match. Other things I did as a 22 year old were buy things second hand. New stuff is often more expensive. I used thrift stores, but you can also check out your local FB buy and sell pages, and buy nothing groups. Try your best to not worry about what your friends and circle are doing. Most of my friends had kids when I was in college. They settled down, which was their choice. I went to college because I knew if I didn't, I had no other support. I needed a job and to get one I needed an education. That was the only option for me. I had already tried getting better jobs (worked in fast food) and it was impossible. I wasn't getting anywhere. Once I graduated I saw doors open. Obviously everyone has a different path. I'm not saying college is the only option, you choose what works for you. College was what I chose after weighing all of my options. My 20s were spent working, honing and learning new skills. Taking any opportunity that came along. The first company I worked for offered to pay for courses, so I took some. That helped me get my next job. The next job I took every training opportunity. That helped me get the next job that I'm currently at. I increased my income each time I moved jobs and leveraged my skills and experience to get those jobs. I'm 34 now and am looking to buy a home. The money I saved in my pension is going towards a downpayment (not all of my pension, just a portion).
2015! Great year. I was at my first RN job. $31/hr with lots of overtime. I was contributing to my 401k, I think about $10,000 that first year, the only year I didn’t max it out, and no IRA contributions yet, but saving for a condo (saved about $10,000 also that year). We went on a lot of camping trips around the Southwest. I moved from NJ to Denver with my then-boyfriend-now-husband shortly after we both graduated college. My husband was starting his first post-college job as a Subaru salesman in Denver, I think we made $140,000 as a couple that year ($65,000 and $75,000). We paid off his student loans ($12,000), he also contributed to but didn’t max out his 401k. Two years later, we bought a condo for 10% down ($30,000 on $300,000) when we were 24 and 27, in 2017.
At 22 I was working a $14/hr job selling electronic cigarettes to try and keep up with the interest payments on my $60k of student loans. Didn't own a car.
Working a top secret job and vaguely expecting to retire with a civil service pension in 40 years. I left that job after 3 years with no savings and what seemed at the time like a lot of credit card debt. I don't even know what happened to the small amount I contributed to the pension. If I could give advice to my younger self it would be this: You don't need that thing. You're not earning as much as you think you are. Start saving now.
Open a high yield savings account and start putting $100 a paycheck in there. If your company offers a 401(k) sign up for that and start contributing 15%. If they don’t offer a 401(k), you can open an IRA with a company like Vanguard yourself and set up a direct direct deposit through your work to fund the IRA.
How many applications do you submit per day? It is an indicator of career trajectory
Just graduated college. Just started teaching middle school science. I definitely do not do that anymore. It’s okay to not know exactly where you want to be or not be there yet at the age of 22. These years are about testing the waters and getting your feet wet. Don’t put too much pressure on yourself.
Saving as much as possible into my Roth IRA and 401k, slowly paying down debt, budgeting, living with roomates, learning to cook, watching personal finance youtube all the time. We used the first home buyer qualified distribution from the Roth IRA for our down payment when the time came
At 22 I was a recent college grad making $36k at a non-profit entry level role with $10k in student loans in California. This was 2017. I was living at homeand saving for move out for the first time to rent a bedroom and have two strangers as roommates. A bedroom was all I could afford then. I felt I had to rent to feel comfortable and confident I could one day be a homeowner. I had to practice covering all my living expenses alone. After one year of such practice I moved back home for 1 year and saved my down payment. I did become a homeowner at age 25 with $10k to my name and leaving the nest at 23 played a big role in helping me prepare for that responsibility. I was making $50k at age 25 and I bought a 2 bedroom condo for $150k that had a $900 mortgage in 2020. If you want to be a homeowner before 30 you have to simply chase the money by getting higher paying roles every 1-3 years and save as much as possible.
Still partying in college
I was taking a break from school to work in what became my chosen field. I was working with a very, very prestigious director on his final feature film. I was the lowest rung on the ladder, but damn it felt good to be there and watch something like that come together.
Started my masters degree in environmental science. Wasn't worried about retirement. Spent my money on rent and beer and made tons of great memories that I wouldn't want to miss!
I was 3 years into my career, making $120k and dumb financial decisions to go along with it like new truck, new boat, and lots of fuel burned going to see girls 😂. 8 years later, still in the same career, although a more advanced position making around $150k and a lot better financial decisions…..and I also come home to the same girl every day!
I graduated with an engineering degree at 22 and had a $32000 a year job in 1982. I focused on job hopping every two years to increase my pay for a bit. Then started my own business which turned out to be lucrative. I’d concentrate on increasing your earnings.
Just save as much money as possible, invest in index funds, and work hard in your career. There are no secrets, just slow steady deliberate progress.
Top gun shit in the Persian Gulf. And drinking my way though different countries. All while not saving a penny.
I was in college and working as a tech making just enough money to get by. But I think the real question isn't what the rest of us where doing, but what should you be doing to create a good financial foundation for yourself. Here's my advice: 1. Contribute 15% of your gross salary to retirement - likely some mix of 401K, RothIRA, and HSA contributions. Do this every year and you will be solid. You are starting young and have time on your side. Use it to your advantage. 2. Create a budget and stick to it. Make sure you live below your means. Stay out of consumer debt. Leave room in your budget for fun, but resist the urge to keep up with your friends' spending. 3. Build an emergency fund - 3-6 months of living expenses, keep in in a High Yield Savings Account 4. Save a down payment for a house. Depending on your time frame for buying a house, you might want to put this in a HYSA also or a brokerage and invest in index funds.
I was fucking off, working in fast food and partying. I didn't have a degree, barely had a roof over my head and lived off of ramen noodles. Now I make 6 figures, due to a combination of luck and networking, with a home, a family, a 401k and savings. 22 wasn't wasted entirely - I learned how to talk to people, made friends and found who I was and wanted to be. But I stumbled into all of it. Hell, I'm still stumbling even though I'm doing alright now. My brother is a lot more like you. He owned his home at 23. He works for the gas company as an inspector. He worked his way up from the time he was 18 from a contractor position. It was really tough and he worked hard. I admire the hell out of him for not quitting, because I know there were times that he felt like it. He qualified for a loan and just went for it. I'd advise waiting for the market to calm a bit more. You're young and have So Much Time. Interest rates are okay and stabilized, but there is a market downturn coming. Home prices are already dropping in Florida, so that's a leading indicator that the rest of the country will follow soon. That you're thinking of investing your money wisely at 22 speaks volumes about your wisdom. But don't constrain yourself too much and have fun!! We only get one life to live.
Drinking and doing drugs. There’s plenty of time left. Best time to plant a tree is now.
I just had finished basic training and AIT and moved from Missouri to California lol
I was still partying/drinking my ass off being reckless working shitty jobs. Didnt get my life in order for another 10+ years. But now im doing decent, far from where I want to be but also far from the bottom.
I was still in college. I graduated at 24 (engineering) and it took about 2 years to get my first job. Fortunately, I had no debt. So that was my starting point. I'm 58 now. Hard to believe my 40th HS reunion is this year. I've changed jobs 5 or 6 times, been married 23 years. We started out making a combined $80K or so with about $100k in investments at 35. We are $2M net worth now ($1.3M invested) and making good money. All we did was stay out of major debt and contribute to our 401K accounts every month. We probably averaged about $15K/year in contributions over most of our married lives, but the past few years we have been able to hit them pretty hard and our house will paid off this year. Work your career, start investing now. Even if it is just a little. Don't believe it when the bank says you should overspend on a home. Find a partner that has their head on straight and leans into living a financially responsible life.
Extending college by a year to study abroad because I didn’t want to graduate and had no idea what to do with my life. Threw most of my savings into adventures abroad and wouldn’t change a thing. You have your whole life to worry about finances and “get it right.” Enjoy being young and invest in yourself a few years.
Just graduated from college into the recession of 2008. Making $27,000. Took any job I could get b/c those student loans weren't going to pay themselves. Also started working events on the side and found my passion in that field.
In the desert fixing F-22's.
I was still in college working towards a Bachelor’s in Computer Science while working part time in food service. I graduated at 25 and bought a house at 26 (in 2016). It’s a very different market now with inflation, but I would use your degree to find a job that pays well or move up at your current job. Start to invest your money and save until you are comfortable investing in a home. Everyone’s timeline is different.
Working for the government fresh out of college doing telecom/IT
You literally just graduated. Relax and have some damn fun.
I was doing retail and freelance photography, barely making rent as a roommate in an apartment Now I'm in my 40s and stable with a 9-5, still not a home owner, but that's more due to local costs than anything
At 22 , I graduated from clledge and worked in many restaurants and partied like Anthony Boudain in Kitchen Confidental. By 26, I was transitioning to tech in 1984.
Smoking weed everyday, all day
Maximize 401k and Roth and have a safety net fund and then live and enjoy the rest. If you automate those items you won’t notice it missing because you are living off net Best decade for compounding is 20s Point is automatic withdrawals to 401k , Roth and savings and then enjoy the rest I did that, bought house, paid it off and can retire any time Did not stress about budgets because lived off the net post money going to those funds That is exactly what i did at 22 Graduated with engineering job and started career at 22 Married at 26 Bought house at 27 Daughter at 34 Paid off house at 39 59 now, only working because I like working on AI Gpus chips as an engineer Could have retired 10 years ago which takes the stress off working My extended family had no money, did it on our own
Teaching English in Japan straight out of college. Back then, you could make a very good living doing this, travel the country and around Asia, and still send money home. I used the money I saved to go to grad school, and my language skills landed me jobs in Hawaii and in international sales.
At 22 you should be talking to girls and enjoying life not worrying about this shit. Once you start working in the real world you don't get to go back.
Busy working and saving.
22 was a busy year. My then fiance and I were expecting a baby and I was working as an assistant manager of a store.
I graduated college and started my engineering job. Seem like yesterday.....
At 22 I was working part-time as a cashier making minimum wage, I was lucky if I could scrape by 8-12 hrs a week. Most weeks I was making around $100. I quit my job and was jobless for about 4 months. Now I'm a self employed petsitter averaging $45k a year. Its not WOW money but I'm happy and Im doing what I love, I'm in charge of my practices and my hours. I can work as much or as little as I want. This June was my first 5 figure month, and I'm looking to recreate that and consistently achieve 5 figures a month!
college is such a scam lol you can earn a bachelors in finance but still have zero idea how to strategize your personal finances
I bought my house at 21. I started at 18 by saving and opening multiple lines of credit to build my credit history. Got my job at 19, which helped with work history. By 21, I had 10 lines of credit and got a $200k loan at 2.75%. Now, at 24, I also have an auto loan.
Working as a Paralegal at a personal injury firm. Work wise? Best time of my life because it was fun (young coworkers) and I only made 30k a year lol.
At 22 Married with a 2 year old and one on the way. Managing a consumer loan office in Baton Rouge where we’d moved from Chattanooga.
I was in law school going into debt. Don't be me.
In college (I’m 23 now)
Living paycheck to paycheck on $15/hour and barely contributing to retirement
At 22 I was a full-time student that had multiple years until I had my first internship. Starting sticking money into a Roth IRA at 24. Graduated at 25. Immediately started building up an emergency fund and funding my 401k. Bought a house that was within my means at 29(I started paying extra on the mortgage early, but the rate is low so I stopped because I can make more in a savings account). I'm 33 now and without increasing my income or my contribution levels, I should be able to retire at 55 with 80% of my income (which is quite comfortable). The early Roth IRA contributions have grown a ton. Having the e-fund helped make sure I didn't have any high interest debt. My income increased faster that my pessimistic plan had been and so I can easily contribute more now than when I was younger. When people say that the early investments make a big impact, they aren't kidding. However, if you don't spend much money on things that are frivolous to you(it is VERY person specific what falls into this category) - things aren't strictly so bleak as needing to do EVERYTHING right to hit normal goals. So you can probably spend a bit more than the paranoid miser in your life believes. Also keep your investment costs low with a sensible (appropriately aggressive but diversified) portfolio.
Cheap booze and cheap women.
I was still in school at 22. Did 4+1 years to get a masters degree. 25 now and work at a Big 4 accounting firm as a fintech consultant. 92k salary with $30k in investments and over 20% already paid off on my student loans. I’m thinking in the same boat but I’m super aggressive on paying off all debt while being aggressive on my long term retirement accounts. I keep my living expenses low ($650 per month on rent in Chicago land) but I do eat out quite a bit because my gf and I enjoy doing so as dates - plus we don’t have a dish washer (lol). I would suggest u live well below your means and max out all 401k contributions and ROTH IRA accounts each year. Might mean u have less disposable income, but it’s well worth it.
I was working two PT jobs, one as an events manager at a college and one as a server in an Italian restaurant. I was in grad school (at the college I worked at) to get my teaching degree. I lived in an apartment with two roommates and had just realized I needed to start saving money because I was living paycheck to paycheck. I hadn’t yet started saving for retirement 😬 Fast forward to 33 and I work in HR as a Business Partner, married, own a home, and living super comfortably with two kids and well on our way to retire comfortable.
@ 22? I was throwing chain on a drilling rig in west texas. Making pretty good money. Still Got all my fingers and toes. My 1st house was bought from my father, who didn't like my GF at the time. So, he put it all together, got me a bank that'd finance me and sold me the house in 2005 for $50k that he had bought in 1993 for $25k. He bought a place in the country with the money.
I was getting drunk in costa rica, then Germany and spain. I'm 29 now and getting my degree in electrical engineering
At 22, I was lost. Dropped out of college. No job prospects. Living at home, mooching off of my parents. Doing occasional odd jobs, but nothing much. Severely depressed. That was more than 35 years ago. Now I'm retired and very happy with my life. I do miss work sometimes.
I was smoking a lot weed and playing shows with a band. Carpenter by day.
Saving almost all of my money. I was in an apartment that was in a special historical restoration program. It had an income cap, and the rent was $370 a month for my half with heat/AC, electric and water included. My roommate and I had ridiculously cheap internet, and I had a basic cell phone. I never ate out and would take $100 from every paycheck and divide it between a few containers for various expenses. Groceries would cost me about $30 a week. I ate mainly produce. The only real luxury I allowed myself was a gym membership.
That was 12 years ago. I have working retail and would be for 6 more years, hated that shit. I was doing online school, I had a 1 year old and just trying to get by. You’ve got a hell of a head start. You’ll be fine, make some plans, sure, but don’t forget to live in the now sometimes.
I was an idiot kid chasing tail with a beer in one hand and my pecker in the other. Needless to say I survived it, graduated from college and settled down. Learn to save your money and embrace the miracle of compound interest. About to retire soon and am financially secure.
Save 30% of your salary each year! I wish I did this
Just got back from Afghanistan and switched to Reserves. Was working full time and starting college.
In grad school to get my master's in accounting so I could get my CPA.
Sitting in a bunker, waiting for the call that never comes.
Studying in college, discovering drugs for the first time, and learning how to cook. Good on you for finishing college so soon.
I was in grad school. I lived with three roommates and was driving a beater. I worked in a special needs school during the day and attended classes four nights a week. I didn't have a lot of spare money. The rest of my old college friends were young professionals who went out regularly and bought big toys like cars and vacations. That was a rough year.
I was lost, but worked my way, built a company in my 30s and made a lot of money
Living paycheck to paycheck with a net worth of about -$25,000, definitely wasn’t saving any money. My financial situation didn’t really change until I was in my 30s, I am in a much, much different place now at 45.
Well good on you for even THINKING of this. At 22, I was working in foodservice and racing my bike. While I don't regret it, I do wish I'd started thinking about saving, and doing so in my mid-20s instead of waiting until my 30s.
Peace corps, hardest but best experience of my life.
Don’t sweat it as much. At 22 I was a bartender with no degree and I got married that year. We had no money at all. Hell, I even had to finance a $44 vacuum. I did believe in myself and my wife believed in me too. Forty years later and I’m worth more and making more than I ever thought possible. Believe in yourself and do the best you can and I still believe that you young people can make it and do well. Good luck.
Working a shit “junior account executive” (aka glorified admin assistant) job at an ad agency for abysmally low wages. Living with my parents until I saved enough for a crap apartment. After a few years, I decided if I was going to work that hard, I was going to make money. Went back to school, got a job in a different field, and bought a house when I was 30. Didn’t start saving for retire until I was 28. Your first step should be to leverage your job experience into a better paying job every few years and don’t let yourself get dead-ended in anything that doesn’t offer opportunities to advance until you are where you want to be income-wise. At the same time, max out any 401k you have to the extent possible, or a Roth IRA if you don’t have a 401k (and ideally both if your income allows it). Saving for a house comes after all that.
I was in college and recovering for doing absolutely abysmally because I didn’t try my first 2.5 years
At 22 I was a “lead” word processor at Boeing. I had 2 lazy as fuck women “working” for me and an asshole of a boss that always wanted me to work overtime on Saturdays and/or Sundays. I was young, clueless as how to handle difficult people, and completely out of my element. The final straw was when my ridiculous boss told me that if I didn’t do the overtime, he could fire me. That made me quit. I quit and found a much better job and what a relief! That said, these days at 58 I could handle that miserable little crew with one hand tied behind my back and a blindfold on.
I was in grad school and working.
I was living with my gf and doing gigs as a guitar player in a hard rock blues band through the northeast. This was in the early 70s.
I was on my 5th year of college because I changed my major 3-4x and didn’t know what I wanted to do until my 3rd year of college. I had a scholarship luckily and worked 32 hrs a week. I still tried to have a social life and it was a lot of juggling. I was saving as much money as possible to move to another state, establish residency, take some prerequisites for the grad program I wanted to go to and volunteering some. After college I moved out of state with $15k saved up, had 1-3 low pay jobs while taking some prereqs and volunteering. Then I got into grad school. I didn’t get started into my ‘real’ career until I was 27. It use to bother me I was ‘behind’ compared to peers who finished college and got jobs right away. Now I’m doing fine, enjoy my job, family, and live comfortably enough. My only regret is not being aggressive about putting more than bare minimum into retirement when I started out at 27 or even earlier. Now that I don’t have any debt I’m throwing a lot more into retirement. Check out the personalfinance subreddit and read the prime directive will have all the info you need. This will include basic things like making a budget, figuring out where to save money, establishing emergency fund, and retirement. Grind for the future job, career and life you want on your twenties. There are some rough patches but it’ll smooth out. Stay gritty. I also had only one credit card back then that I used like a charge card and paid in full every month only for groceries and gas. This helped me establish credit incase I ever needed it. The only time I needed credit was when I bought a house. Also don’t ever buy a new car. Buy a used one in cash and make sure it’s reliable. I bought a new car once in my twenties(cash) that immediately devalued. I should have just bought the used model of the same car and saved that money or put it into retirement
I bought my first house at 22. Was still going to university but got a great paying job and literally purchased a home after a few months with almost no down payment. Stumbling through work and finishing up collage and got married, now I’m hoping to rent this home and buy my next property in a different state at 26. Then rinse and repeat after a few years. If you have even a decent paying job, if I were you I would lock down on a house ASAP and everything else falls in place with faith and hard work.
I’d just finished trade school after deciding college was too expensive. I was single and living paycheck-to-paycheck but somehow I pulled myself together and bought a house with a low down payment loan program. It was so scary and stressful but it ended up being a great decision. Really helped put me on the right trajectory.
keg stands
"Touring" the Mediterranean while in the Marine Corps. You're just figuring things out like the rest of us, enjoy. It goes fast!
Getting married lol
Living in Asia teaching English and working for a company
I started working age 21. I eventually committed to saving $ in mutual funds and using that for my first home downpayment. First house purchased 9 years later, not because it was expensive but because work, life, and disposable income were too unstable until then. So my recommendation: minimize costs to maximize disposable income, dump as much cash as possible into any good savings vehicle, make a habit of saving by "spending" it in savings as soon as you get it, and don't exchange yield for risk. If you can move your career forward through education, drive, relocation, anything, you're going to make those sacrifices pay dividends, literally. I've been thru 3 career changes, have multiple degrees, lived in several states & countries, and frankly, if I could whisper into my 21-year-old ear back then, I'd just either keep quiet or tell myself to keep driving forward.
I was a college dropout delivering pizzas, getting hammered every night and chasing tail. It was fun while it lasted but glads it’s behind me. I was a few years behind on growing up.
I had dropped out of university, moved to another state, and worked a dead end part time job. The relatives i stayed with were emotionally abusive and so I moved out and lived in a shared house. I basically made enough to pay for my share of the rent, car insurance, and food. Did nothing but play video games, eat junk, and watch anime/movies/TV shows when I wasn't working. I had no friends aside from my coworkers and never went out. I'm pretty sure I had depression, but never realized it. 35 now and I'm doing leaps and bounds better now than when I was in my early to mid 20s. Looking at me now, you wouldn't believe me if I told you that I was no-life-ing it for a few years in my 20s. To be completely honest though, that was also the time I had the most amount of freedom in my life. I sometimes wish I could go back to those simple times where I had little to no responsibilities and had no obligations to anyone other than myself and just no-life it for a few days.
By day, graduating with a Comp Sci degree while in the middle of my SWE internship. By night, I was an absolute degenerate.
I was milking cows
Get yourself into hedge funds or something. Live with parents, stay out of debt, avoid lifestyle creep… bank as much as you possibly can for a down payment!
I was working full time at a corporate healthcare company commuting 30min each way, living with my best friend, and dating my now husband. Wish I knew about investing back then, if I could go back I would start that asap at least to get the company match, then save 3-6 month emergency fund, save for down payment for a house, and then continue to invest as much as possible.
Cocaine
Relax. Live beneath your means. Save at least 10% for your future self. Then go have fun. You're 22. Build good habits but don't stress
Join the military, preferably the Air Force. Paid education and guaranteed job if you don’t do stupid stuff or get physically disabled medically. Medical care is free, do 20 years then health insurance is essentially free. Paycheck for life. If you stay single with no kids and plan it right you’ll never have to work after 20 years.
At 22 I was hopping around a few jobs but actually also ended up at a bank. Paid me peanuts but I didn’t know what else to do. I ended up being recruited to be a claims adjuster and I’ve been working in insurance ever since. The pay increase let me buy a cheap short sale condo and I just always put up to the match at work into my 401k. If you start now you’ll be fine. Housing is a mess now though, I would not even think of buying a house right now
I was working my way through school after having sat out multiple semesters and had run out of financial aid so I got a job with the university that gave me two free classes per semester that I could attend even in the middle of the day. Absolutely hated school, but do not regret busting my ass to finish a BS.
Active duty Army deployed to Iraq, good times
I was a waiter from 19-24. If you have your career started at 22 you are ahead of many! I an know 35 and well into my career which began at 31.
Finishing my bachelors and applying for grad school
First, this wasn't due to my then wife or me, it was due to things being much better back in the day than they are now, at least in terms of the cost of goods compared to regular salaries. At 22, my then wife and I bought a brand new condo and it was really nice too, our unit and the development as a whole I wasn't working as I was in grad school. My wife was a 1 year elementary school teacher and we were easily approved for the loan for our condo. About a year later we bought a new Honda Civic, again just on my wife's teaching salary as I was still in grad school. I'm closer to 60 now and our 3 children are all in their 20's and they can't do what their mother and I did. Their mother and I couldn't do this today either. I feel so badly for all of you younger people staring out in this day and age. We were regular people, it's not that we were great. We could do what we did because of the times, things were so much better decades ago, the prices and cost of living weren't so out of whack with normal regular salaries. We lived well. We went out to eat, traveled, bought furniture for our condo, had a season pass to a large nearby amusement park etc. A few years later we bought 40 acres and 3 years after that, at 27 years old we moved into our new home we had built on our 40 acres. We had hope and dreams because it was possible to achieve one's hopes and dreams back then. Again, I couldn't do what I did in my 20's back then if I were in my 20's today. I couldn't. I wish all of you younger people starting out today good luck.
Working full time as a journalist and applying to law school. Four roommates in a little house, to save on rent. Riding a motorcycle, saving up to buy a car.
Got married, had our first kid, bought our first house. Graduated college and was working my first full time professional job just before turning 22. Not wasting any time over here.
Deployed to Iraq. Fun times!
I was starting my first year of dental school
Joe
At 22, I was unemployed and living at home. I focused on learning about personal finance. I read articles, listened to podcasts and combed through Reddit. Advice for age 22: Build your credit now. Invest in 401k immediately. Build good financial habits- that’s the backbone to all personal finance goals. Thoughts on buying a home: Start with learning about the costs of home ownership: Mortgage, closing costs, maintenance, taxes, HOA fees, furnishings, repairs. Figure out what you need in savings and recurring income, then work backwards on what you need to get there.
At 22, I got married, had been in the Air Force 4 years. I had one college class under my belt.
Was living in Germany (I’m American), and it was the best damn year of my life so far.
Learn. Earn. Save. Invest. Repeat. Go nuts on audiobooks and podcasts. r/bogleheads Max out on company saving plans
I was going through a separation from the marriage at age 19. After that, I put myself through college with scholarships and loans, which I subsequently paid off. Then, I was a programmer/analyst for several years. lmk if you want to know more. I am now the parent of a 21-year-old.
left my country, was my first year in USA fresh off the boat. Worked hard, put myself through college and now have 200k Job, house and retirement. Alhamdullilah!
I had jst graduated (1st generation) with no student loans, and started my 1st career job. Paid for a wedding, got married which also meant moving out for the 1st time and being the breadwinner because my husband (22 at that time too) was in school full time. Also bought a brand new Corolla which was my only debt at that time and I ended up paying it off early. About to turn 32 with no debt except our mortgage and over $550k net worth. We've always budgeted and set targets for financial goals. Never spent more than what we could pay cash.
I was traveling the world (solo backpacking) and a first responder.
Working and saving
I was on an aircraft carrier, too young to figure anything out. I’m impressed with today’s youth. They seem to really have it together.
I was finishing my bachelor's and traveling nonstop around Central America, like Guatemala, Belize, Costa Rica, and Panama, while staying in $30 per night hotels or crashing on couches. I had a 1960 vw bug with a hole in the passenger floor. That was weird. But we pissed through it while driving.
I was finishing up college and working at a hotel not knowing where life was going to take me.
Working full time and taking care of my 5 year old. Living check to check and shopping at the damn mall 😬. So glad I learned quickly.
Hiking through Northern California putting out fires.
School for accounting and working the job which I am now the owner of. I had met my now wife the year earlier so I spent all of my time between working, going to school and going out with my girlfriend since I didn’t have many expenses at all.
Workin a shit job, partying every weekend and DJ’n at local raves living life to the absolute fullest i could financially afford to, breakin hearts and getting my heart broken lol. Now im 31, woke up last week and no longer had feeling in my finger tips and toes. Guess i partied too hard and its finally catchin up to me lol smdh. All and all no regurts pretty much ready to check out this bitch at this point lol. Brain is fried i make good money but absolutely hate my job
At 22 I was in college partying, going on trips to Cancun, going out for sushi. Same thing I’m doing now, basically
Lol I was not nearly as well off as you at 22, for sure. But it's been a long time since then so here's my advice for your situation: 1. Max your contributions to your 401K and HSAs if you have them. These should be available to select via your company's HR portal. Probably Workday. This will also lower your tax rate, which is nice. 2. Open a HYSA. Set a savings goal. $200 a paycheck or however much you are comfortable with. You should have at least 6 months salary worth of savings as an emergency fund. 3. After one & two, relax. Take a vacation someplace cool. Maybe meet somebody.
Just got my AA and transferred to a large university and restarted a science major. Van wilder plan lol. Flunked out of community college because I didn’t care or know how to study, etc. also marijuana
At 22, we were having our second kid, I was working in fire and causality insurance with a degree in business admin, and my wife was waitressing. We had zero savings. What I was doing has nothing to do with good advice to give you. Pay yourself first. 10-15% of your pay at a very minimum immediately goes into your financial future account. Pretend it doesn't exist, you don't dip into it unless absolutely needed. Build up a couple months worth of expenses to help float you through minor financial woes like getting laid off or car repairs. If your employer matches on a 401k, pay into it enough to get the full match. Next, try to fully fund a roth ira. Then try to fully fund your 401k. Then try to put money in an index fund. After dome number of years, you will have saved up for a down payment on a house. Pay off your credit card every single month, but do use it. Charges are easier to contest and you can earn points. And more importantly: invest in your health. Be active. Do mentally charging activities. Become an amateur-for-fun athlete or whatever activity you like now and maintain that fitness throughout your life. A bad back or knees in your 30s or 60s sucks; push that as dar away as possible. Easier to fix that while young and maintain than to fix when older.
I'm 22 also. Graduated 1 year ago with an engineering degree making 75k. Got 2 roommates, got a second job on the weekends. With the second job and production bonuses, I'm getting about 85k/year pretax. My split of rent+utilities is around 600/month with the roommates. Driving a beat up 07 pontiac my uncle gave me for free because if I didn't take it it was going to the junkyard for constantly breaking down on him. Learned how to work on cars with it. I also made sure to find a factory out in the middle of nowhere so a 1000 sq ft house on a quarter acre lot is about 90k. Saving every penny, (about 30k a year straight into investments/high yield), so I could easily have a small, paid off house at 26. Probably gonna save up for something bigger though. I know this isn't realistic or possible for everyone, but that is my route. I figure the harder I work now, the less I'll have to work in my 30s. Save everything, enjoy life later, because I'd rather that and leave my family a bunch of money if I die young, then enjoy it now and spend the rest of my life paying it off. I want to leave something for kids if I have them. So thats one route, hopefully it can give you some ideas.
I had just graduated college and started my career. Mining engineer, went to work in underground coal making 84k as a supervisor. Hours were excessive, but the fantastic start to my career was absolutely worth it.
At 22 I started grad school, I made $15,000 a year and found a studio apartment for $500 a month that was about 20 feet by 15 feet big, and saved about $300 a month and did not have a car and lived off of cheap food like ramen, pasta, no meat ever and free food they gave out at school.
Rocky Mountain National Park working trails and meeting my future wife. We pursued Masters degrees for two more years and really didn’t start adulting until 26. Enjoy your 20s but take positive steps in the direction you want to go. Be decisive and don’t waste your time.
Same thing as you, had just graduated college and just got my first "big boy" job as a Business Development Representative. You've graduated with a valuable degree and have a full time job at 22! You're doing just fine! With your goals of being a homeowner and retiring, if I can share some advice : - If your employer offers a 401K, make sure you contribute enough to get the full employer match (at minimum). If your employer doesn't offer a 401K, I'd open a ROTH IRA and try to put at least $100-$200 bucks a month in there. The goal here is to max out your yearly contributions to those retirement accounts as your income grows. Starting young on these is KEY to a great retirement. -Do your best to rent a place that's cheap. It probably won't have granite counter tops, a pool, a gym/sauna, etc. but if it allows for you to save money every month, it's worth it. You NEVER get a single cent back from renting. Make sure that while you do have to rent, you're not spending an arm and a leg on it. -With these savings (not including the money for your retirement accounts listed above), create an emergency fund. The goal here is to have at least 6 months of living expenses in here incase you lose your job. As you cross over the 6 month mark, this money now becomes your money for a down payment on a condo/apartment/townhouse/house. Keep this money in a high yield savings account and not in ETF's or Mutual Funds, to ensure it earns good interest but also ensure that you don't lose 30% of your hard earned cash if the market tanks. Again, you're in a great spot, and just keep at it! Owning a house and retiring early don't happen overnight. Stay the course and you'll be just fine :)
Switching degrees because I didn’t like what I was doing. I’m now 26, finished university, did a bootcamp and am now in my first internship for 300€/month. Could be better, but it’s what it is.
I dropped out of my last semester of college. I was planning to go to medical school. I had taken the MCAT and scored well. I took all the classes, did all the extracurriculars I was supposed to and so on. Then in March before the summer I was set to apply, I had a friend pass away. It changed my perspective on my life, and if I’m being honest with myself, I felt like it gave me a weird form of permission to make a decision I had been wanting to make for awhile. I floundered for several months before eventually deciding to get a job and a couple years later finishing school. At 28, I’ve now been fortunate to find myself in a VP position with an upstart medical device company I’ve been with for 5 years with only more opportunity in front of me. It’s kinda funny how life can work out. Sometimes I miss the days when I was 18 and knew everything. The Dunning-Kruger effect is very real.
I'm 22 right now! I'm making 50k as a waitress, 30 hours a week, saving for a downpayment on a house now that I don't have many expenses . Studying accounting
Being a dumbass kid in a local motorcycle club, doing drugs, and getting to fights at bars. Sounds like you're in a much better place than most at your age.
Got out of finance years ago. Best decision I’ve ever made.
College and Army