financial management at your 18

Our readers could relate to the previous articles on financial management is the best education. It is not something, you should develop after becoming a family’s head.

These habits should be developed even at your younger age before 18. In India, age of 18 is needed to vote in elections, getting a license, etc. Also at 18, people will be starting their graduation.

So, this specific age will decide on what you will move towards achieving your personal goals. In foreign countries, when a child attains 13 years of old, they use to work and start savings and investments.


Here are few tips, if followed at your age 18, there will be 100% financial freedom at your age of 30.


1. Apply for Pan Card and open a bank account.

2. Built an Income source.

3. Educate yourself on financial management.

4. Open a DEMAT Account.

5. Surround with Futuristic people.

6. Built a side hustle.

7. Don’t buy any expensive liabilities.




It is not necessary to open your pan card and bank account at your 18, you can even open your bank account earlier. But, at age 18, you will become a major.

Till you attain 18, your account will be merged with your parents and you can’t withdraw without your parent’s knowledge.

Bank is the starting an instrument where your savings are paid with some interest rate. You might have started your saving in a piggy bank, they won’t pay you any interest. Your savings should yield some returns.

Once we mention, the bank is the instrument of the initial savings and you shouldn’t rely only on the bank in future.

So, once you attain the age of 18, apply for a pan card, and open a bank savings account. Currently, savings account payout interest of 3-3.5% per annum.



It is not necessary that you should start earning once you complete your graduation. If you think so, you are going to waste 3-4 years of life simply giving a reason for being a student.

Investor’s role model Warren Buffet started earning at his age 8, by selling newspapers and started his investments in the stock market using the money he earned.

We are urging you to start your earnings by age 8, at least start by 18. It may be an active income like part time jobs, freelancing related to your subjects, or services.

Also, you can start creating your passive income sources like blogging, YouTube while you attain 18. Since age 18 is the first criteria to activate monetization to these passive income platforms.

 You can find your own way of making income, but income will make you start saving and investing.




At this age, you should have a basic understanding of financial management. Terminologies like income, expense, needs, wants, savings, etc. should be clear.

All financial planners and advisors used to say 20% of your income should be saved and invested. Fincare wealth creator promotes to save a minimum of 30% to a maximum of 50% of your total income.

You should know the basic of financial planning, habits required for financial planning, goal based investments, basics of long term investments in equity, and debt markets.

These educations will never leave you to be spendaholic, creating debt, and make you be a minimalist.




DEMAT account is like a bank which holds the electronic shares of the company which you like to invest.

You can open a DEMAT account prior to age 18. If not please try to open an account by age 18.

Once you have aware of investment, should learn how to pick a company share. You should invest on the value of the company and not on the price.

When you select 10 perfect stocks, at least 6 stocks will grow as a multibagger. Since you have a long runway, your diversified investment will beat the volatility and make you a billionaire.

Concentrate on the companies in the sector you have more knowledge. Uptake all the relevant information and believe the company is yours.


Open a new DEMAT account right away with Angel Brooking for free – the full time and discount online broker.




The world is filled with a maximum of negativity and positive energy is shared between a few people.

If you ask your friends, come let us develop this skill instead of wasting in watching videos. No one will turn towards you.

Instead if you call them for watching a movie, everyone will be aside from you. This is how the current generation people are.

The successful people like Jeff Bezos, Steve Jobs, Jack Ma, Elon Musk, where surrounding themselves with futuristic minded people.

Your friends and your companions will decide what you will become.




As you surround yourself by futuristic people, you and your team should think much ahead of starting a side hustle.

You all work on unmet needs are services related to your niche. When you all put your mind together, the success rate will be high. You can convert the side hustle as your business and while you come out of your college, you don’t rely on campus interview. Instead, you can offer a job for your friends.

It doesn’t require any investments to start a side hustle. Choose and build your side hustle based on your skillsets.

There is nothing to lose, you will learn and grow together as a team when you all share your skillsets towards the same motto.




Rich Dad and Poor Dad‘s book has clearly differentiated between assets and liabilities.

Most of this age group people attract towards liabilities. It is not a problem, but it makes you towards improper financial management.

Expensive Bike are the most commonly invested liabilities at this age. You should understand, once you take your bike out of the showroom, it’s value decreases by 30%.

Avoid these kinds of huge liabilities in your life, invest in assets, and build your money.

Don’t force your parents to buy a bike and make them under debt.

The only liability you should invest in this age period is on the laptop.

Laptop will be used to learn new skills and execute it for your freelancing, passive income, and side hustle.




·       Financial management should be developed at your 18. If not, start it today. Consult with a financial planner or fee-only advisors.

·       These guidelines are not only for people of age 18. If you have missed out at your 18, start right away.

·       When you lead a perfect financial management at your 18, you can stay focused on your business.

·       Even if you haven’t established the business and still on a side hustle. You can still quit your job in the early 30’s and start working towards your passion.

·       This age is very crucial to achieve your financial freedom.






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