Some Friendly Advice
In the words of renowned author, Oscar Wilde: “The only thing to do with good advice is to pass it on. It is never of any use to oneself.” After having read a number of articles on personal finance, I decided to pass on four major pieces of advice that are useful to anyone in their twenties or thirties. Here they are:
1.

Don’t Depend On your Degree

Parents often tell their children that they have to earn a college degree to be successful, and in many cases, they’re absolutely right. According to the Bureau of Labor Statistics, the current unemployment rate among college graduates is 4.2%, compared to 8.3% for those with only a high school diploma.
However, that doesn’t mean that a college degree assures you a job once you graduate. The
Washington Post reports that the unemployment rate among Architects is 13.9%, and 11% for people with arts degrees.
My recommendation, do something that you enjoy, but research the job outlook for your field before committing to the degree program.
2.

Be Weary of Credit

Credit cards might have their use, but with jobs scarce and the economy only slowly improving, holding a lot of debt is a dangerous endeavor. When you take on debt, you’re betting on your future ability to pay it and as many households have found, that isn’t always true. The average household debt for those with credit cards is more than $15,000, and 3% of those households are at least 30 days delinquent.
My recommendation, don’t think of your current job as safe. Many have been laid-off, leaving them with no way to pay their debts. Keep debt at a much lower level than in the past.
3.

A Home Is Not an Investment

If you’re an investor purchasing homes at almost ridiculously low levels, hoping to rent and later sell the properties, a home is an investment. For the average buyer, this is not the case.
First, homeowners generally stay