Niklas NIkolajsen’s top 5 financial tips for the youth of 2022 

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Niklas NIkolajsen, a philanthropist from Denmark, shares 5 financial tips to help young adults save in 2022.  

Spend consciously 

 It’s easy to get carried away by the barrage of products calling you from the aisle shelves. Niklas suggests practicing conscious spending. He says, “When we get carried away, against our wish, we tend to feel guilty about it sooner or later. However, if proper intervention doesn’t occur, guilt soon turns to justification and we find ourselves with more things we need and less money we need.”  

Define your need 

 Some needs are fundamental across humanity. Others become personal and take on a life of their own. However, the key lies in recognizing what you need versus what you think you need. Niklas says, “To define your need, literally means to sit down with a pen and paper. Write down all your needs. Don’t hold back. Now start the editing process and remove things that you don’t need. A substantial reduction in your list of needs equals a substantial increase in your saving.”   

Track your expenditures 

 It’s not easy to start a new habit. But with time, a good habit can become your knight in shining armor. Niklas believes that a really good habit is to “track your expenses. Now technology has made that so much easier. All you need to do is, keep an eye on where the money is going and ask yourself why.”  

Invest a little 

 For Nikalas, investing is a wise precaution. He says, “When you invest, even a little bit, the joy it brings as you watch it grow and become a fairly large sum with time, is not easy to match. The security it offers is a plus as well!”  

Avoid credit 

 Niklas believes that credit “must be avoided at all costs if you wish to stay on top of your game. Pay up or don’t buy!” 

Great tips, indeed! 


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