This is a short but very impactful conversation I had with a mentor I had in college. He was CEO of a local commercial real estate mortgage firm. Very well off.

“What did you do when you were my age to help get you where you are today?”
“That’s a very broad question…”
“I guess I mean in terms of investing or personal finance… what can I do to ensure that I get my financial life started off well so that when I’m your age, I can be ready to retire and enjoy some of the luxuries in life?”
“The BEST thing I can tell you to do at your age, since I’m assuming you don’t have much to invest, is to NOT BUY A CAR right out of college. It is a huge temptation that nearly all graduates succumb to and I can’t stress how important staying out of debt early and building a good base early for investing is.”

It was a relatively simple lesson but I took it to heart. Here’s some ways young professionals can easily save/preserve some of their hard earned cash.

Ditch the wheels - Taking public transportation has many pluses (for everyone) in addition to the fact that it will save you lots of money in the long run.  According to the American Public Transportation Association an average person can save $672.00 a month by taking public transportation.  Not only are you saving your wallet but your car’s life span too. Shit, maybe even your own if your doing a little “Self powered commuting”.

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We are strong believers in investing here at E.M. We think it is an absolutely MUST-DO for differentiating yourself (in a good way) from the average American/human being, whose life is riddled with debt. That’s why occasionally, we’ll be giving you primers on investing concepts and why you should care.

We will make sense of the basic concepts and contemporary news and try to keep it high level so you don’t have to be some sort of “financial lord voldermort” to understand it while still being able to make use of it in your everday life. Honestly, we go nuts for this shit, and here’s why:

1. Investing will make you money – This may be the single most no-brainer thing I’ve ever said…but it is more than true. Investing, in any form should be a part of your financial life. If you are in debt, you should GET OUT of debt quickly, so you can start investing. A vast majority of America will spend the vast majority of their adult lives working for their precious dollars. Investing is the way that you can get that money to work for you. Investing is what will pay the down payments for your house(s). Investments are what you’ll cash in on to pay for your kid’s college education. Investments are what you’ll be living off of when you decide to finally stop working. Investing will bring that day closer. :)  Investing is what will get you that money to help you accomplish whatever selfish, selfless, philanthropically, or bizarre dreams you wish to fulfill in your lifetime.  Investing is important.

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