Martin Dasko focuses on personal finance for 20-somethings on his blog, Studenomics. As you might expect, that keeps him busy, but he was able to speak with us about personal finance when you're just out of college.
What are some common financial mistakes too many people in their 20s make?
There are two major mistakes:
1. Not investing in yourself. It's important that you continue to invest in yourself. This could be through buying books or taking people out for coffee. Keep on growing!
2. Not planning a little. You don't have to budget for every single penny, but I wish that more young people would plan a little so that they're not broke by payday.
What led you to the "start a business in five minutes" model? How'd that come about?
I wasted too much time. Chances are that the person on the other end has also wasted time. Why waste time? Get your business idea out there and tweak it as you go. There's no such thing as the perfect idea. Execution is key!
How has the Internet changed how we make money?
My parents never thought it would be possible to make money other than from work. Now you can make money online. The Internet has changed everything totally. There are options available today that didn't exist just a decade ago.
I believe that everyone reading this has the ability to make money online!
How common is debt right now? How serious is the problem?
Debt is far too serious. Most folks don't get out of college without massive debt. I just met someone recently that is $130,000 in debt from school. That's completely absurd. It's more of a student mortgage than a student loan.
Debt is scary. It needs to be crushed and/or hopefully avoided.
What's the oddest piece of financial advice you've ever received? Did you try it, and if so, did it work?
"If you want your pockets to jingle, stay single!"
And at the moment, I'm using this strategy.
What trends in personal finance should we be keeping an eye on?
Ways to make money. These days you hear about all sorts of cool new jobs that are coming out, from social media manager to world traveler. I would watch out for unique new ways to make money.
For more from Martin, follow him on Twitter.