SuperMoney Series: Adam Piplica About Investing and Personal Finance for Millennials

I’ve rerecently been invited to be interviewed on SuperMoney about investing and personal finance for millennials.

The full interview can be seen here.

Some extracts:

How Magical Penny started:

I didn’t have any background in investing when I started getting curious about the stock market. I didn’t have any money either! I was a student studying history and politics and planning to start a job in marketing when I graduated. But the internet opened up the world and its information, so it didn’t take long to fall down the rabbit hole of internet research and follow my curiosity about the stock market and investments.

The ‘One Thing’ Advice

Look through your direct debits and standing orders in your bank account; it should be easy with mobile banking. Are you spending money automatically on something you no longer get value from? My message is not, “Spending money is bad, saving money is good.” Instead, my message is, “Make sure you are only spending money on the things that are meaningful for you, so you have more to put towards longer term goals.” Not quite as catchy, but it works!

My most important message for young adults

Don’t feel like you must follow a set timeline for your life such as “I must buy a home by the time I’m 30” or “I must have nice things now that I’m not a student.” Everyone is different, and if you try to force yourself into set deadlines, you could make a costly mistake or trap yourself in a life you don’t want. Certainly, you should have goals and work towards them; but don’t try to rush things because your emotions could lead you into making a poor financial decision.

It was fun to have a chance to share ideas on a different site so do read the whole article here and let me know what you think.