3 Reasons Why Your 20’s Are the Most Important Time to Save Money

As as I say bye-bye to my 20’s, I can not tell you how grateful I am that I saved my money for when I need it, which happens to be right now. I spent my 20’s working my ass off, and working in jobs that gave me zero fulfillment. I worked retail and got into modeling in college, and worked nights as a bottle service waitress stealing peoples money (and souls) in NYC nightclubs for six years. None of these jobs gave my life meaning, none of them helped me grow as a person, but the high pay kept me addicted. I had no real direction in my life, and all of the jobs that I was giving my energy to had soon-expiring shelf lives. The difference between me and too many others in my position was that I knew that I would need the money I was making in my twenties so that I could have it for when I got all the bullshit out of my system and was ready to discover what I really wanted to do with my life. With that being said, here are 3 reasons why your 20’s are the most important time to save money.

1. You can do things on the cheap and still have a great time

When you’re young, hostels are adventurous and fun, dive bars are a great place to meet people, and wearing things from the Salvation Army that make you look homeless means you’re on trend. As you get older – not so much. When you’re young, you don’t need to spend a lot of money on your vacations and entertainment because you’re able to find adventure in budget places, and most of your friends are broke too anyway. As you get older, your taste generally becomes more refined, and you (hopefully) require more than some low-end vodka and redbull to have a good time. Use your youth to take advantage of these qualities.

2. You probably won’t discover what you really want to do until your 30’s – and you’ll need money for that

20's discovery

I know some of you got robbed by US college tuition, making it nearly impossible to save any money, and I was lucky to have gone to school in Canada where it’s subsidized and more affordable. BUT you still graduated school, got a job, and I hope for your sake immediately found a career that you’re passionate about. Most of us confused Gen X and Y-ers aren’t so lucky, and this is my message to you – while you’re in your 20’s and working in a job that you’re not excited to wake up to every morning – make sure you’re saving your money while you’re figuring it out. I’ve decided to walk away from all that I’ve known for the past 10 years – from amazing money and a “comfortable” life to pursue what has become my passion, and that is to become a life coach. I am so utterly grateful that I had the sense to save my money while I figured things out in my 20’s so that I would have the resources I need now to be able to go back to school and focus all of my energy on this new endeavor that I’m actually excited about.

3. You don’t need to go into debt or rely on anyone else for the stuff you’ll need in your 30’s

Without my savings account, I’m sure I would still be clinging to dead-end jobs and an unfulfilling life out of fear of being able to survive a shift in career. Let me stress that this should never stop you from pursuing your dreams, but it definitely makes the decision and the transition easier when you know you’re not going to come home to an eviction notice. Even if you have a job you love, your 30’s brings the time when you’re looking to buy a home, having to pay for a wedding, having to pay for kids. This is all pretty important stuff that your savings will help to fund without having to pay high interest on if you go into debt.

Even better – you don’t need to rely on anyone else to help you. Not your parents, not the bank, not your boyfriend who may always hold it above your head or make you feel like you have to stay with his shady ass. The security of independence is priceless. Especially as a woman, knowing that you can do things on your own is extremely liberating and empowering.

So enjoy your 20’s – meet some mysterious latin guy in your hostels common room, let loose at that bar that has all the bras hanging from the ceiling (just don’t contribute to it), and spend a little money when it means affording you amazing experiences. My only warning is to not be reckless. Sure, you only live once – which is even more of a reason to set yourself up for a really great life.


  1. “Even better – you don’t need to rely on anyone else to help you….not your boyfriend who may always hold it above your head or make you feel like you have to stay with his shady ass.”

    This speaks to so many women out there. Thank you for sharing!

  2. Love reading your blog – it’s help me out in so many ways! Congratulations on finding your passion and good luck to you moving forward into your career!

  3. I just finished university and it’s like fate to have come across this post.

    A lot of my friends are always pushing me to go out for drinks and everytime I do I just wake up poorer, hungover, and I feel like I wasted a night that could’ve been spent more productively.

    It’s super hard to stay focused at a young age when everyone says you should have fun.

    Thanks for proving it’s not for everyone and there is a reason NOT to party it up all the time!!!

    • YES! Thank you for such a powerful comment. Trust me, I am SO grateful I saved my money when I was your age… you won’t regret it (unlike those bad 3am decisions).

  4. Great article! I am definitely forwarding this to my girl friends in their 20’s. I’m fortunate to have a BF who has taught me the value of saving. At 22 I probably have more of a savings than many others at my age. Now it is like a drug for me to constantly save save and save. Your blogs are so helpful!

    • That’s amazing! THank you so much for your comment – you should be super proud of yourself. Trust me, you’ll be so grateful to have that money in your 30’s!

  5. I’m in my early twenties and find it sometimes hard to put away money with a minimum wage job. But due to my lack of wanting to go places and do things I tend to find things to do at home, presenting the opportunity to save money. I’ve always felt like if I could hold a full time job, and find something on the side that produces an extra couple hundred a month id be set. Alot of scams and things that are illegal get in the way, but if you can find something great to do the side it should bring in some extra cash hopefully even for some saving. Take care

  6. Ashley, Fan of your blog and like the info and audience you are serving. I have a bopok, The Twenty someti=hings guide to money and more that target’s the 20 somethings. i also present the Wise-Up program from the DOL/National Womens Bureau, and have co- founded 2 charity’s around Financial Literacy. I’d like to connect as able for next book and or review of this one. I’m happy to send to you? Let me know thx, Mike

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