Austin Netzley - the founder of the financial consulting company YoPro Wealth, also faced a similar situation. After graduating from college, he "accumulated" a debt of $81,000 and experienced that feeling! However, within a few years, Austin Netzley paid off all his debts and achieved financial freedom in his mid-20s, allowing himself to quit his job at the age of 27. You can do the same! Listen to the 5 hard-earned tips that Austin Netzley has gathered in the process of becoming someone who "knows how to spend money".

5 Valuable Money Tips for Recent Graduates

1. Start investing in something as early as possible

Initially, surely all of us will face failures, but it’s better to fail when you have "less to lose" than to lose a lot of money and be unable to get back up, right? The most important thing you need to remember is not to hand over the management of your finances to others, as everyone must take responsibility for themselves. You will learn a lot (mostly what not to do) when you first start investing.

2. Find a job

That's right. Get a job. Have someone pay you while you learn and figure out your own path. They pay you so you can pay off your debts. That’s something anyone can understand. Focus on finding a job that meets at least one of the following criteria: A large, world-class company with great training programs for employees. Working with people you admire and want to learn from. Don’t hesitate to work for a small company; you will witness the entire "behind-the-scenes" process of building a business from the ground up. In an environment that allows you to do what you have long been interested in, which industry have you noticed the most? Does it have potential for the future? Even while working, Austin Netzley learned a lot from the big money days.

3. Get a credit report

Surely everyone knows this is a very boring task. But we still have to do it. You might be surprised (as I once was) to see some credit accounts open that you thought you had closed or still had a balance. Start fixing your finances so you can understand your current situation, and a credit report will help you do that. You can get a free credit report once a year by using AnnualCreditReport.com, so take advantage of it. The author also recommends spending at least two Saturdays a year to check your net worth and financial health. What you need is to focus on execution, and your finances need more attention than 99% of what is offered.

4. Allocate a portion of your income to invest in yourself

Education, coaching, programs, conferences, retreats... Investing in education may be seen as a waste of time and money. However, successful people in the world often set aside an investment for themselves. Look for people you admire and follow them. Learn from them. Subscribe to their emails, read their books, and attend their events. They will show you that the "shortcut" to success is self-learning. "School is just the primer for what you will learn through self-study," Austin Netzley says. Any successful person emphasizes investing in themselves; they know that houses, cars... are just external things, the most important thing is still personal development.

5. Diversify your income streams

Want to feel confident about your personal financial situation? Do this. There are three main types of income: Earned income: work once and get paid once, like a monthly salary or hourly wage. Residual income: work once, get paid multiple times, like writing a book or creating a program. Passive income: no need to work, get paid multiple times, like investments. Financial freedom is the goal. Stop trading time for money, build a "money-making machine" and let it work for you. Austin Netzley was fortunate to achieve financial freedom at the age of 27, with money still flowing into his pocket while he traveled the world. The way to do this is through books, investments, digital programs, automated businesses, and other things that will earn money while you sleep. 90% of people in this world earn income by trading their time for money. If you stop working, the payments will stop. However, it’s different for the rich; they build things that make money while we sleep. The key is to think differently; it may be difficult at first, but keep trying because success is only for those who deserve it.

If you think hard work is the essential factor for success, you are mistaken!

There is a common saying that most of us know: you need to work harder and endure more pain than anyone else if you want to succeed. But in reality, this is only half true. Personally, I always agree with the view that hard work and perseverance are part of the factors that create success, but they only serve as a necessary condition, not the reason for success. From what I have learned from those who have achieved great success in both life and career, one of the most "interesting moments" is realizing that hard work alone is not enough for success; sometimes it can even be a waste of time and energy. Based on this perspective, I have summarized 3 important things that may even be more important than hard work when it comes to achieving success.

1. Purpose

Have you ever gone down a deep basement to the point where you might not even remember WHY. If you study all the people considered failures in this world (especially when they think so themselves), you will find that their lives all lack a common factor: purpose. They don’t know where they are going. They also don’t know why they are doing what they are doing and don’t think about having a reason to explain all of that. They only pursue short-term desires like food or sex, and those are the only things that keep them moving. They operate purely on instinct like an animal. Therefore, they are incapable of executing long-term thoughts or personal analysis like a human being.

It is not necessary to examine each failure case closely to find the disease of lack of purpose. If you are not continuously aware, you will find yourself doing something without understanding why you are doing it. Motivation can be a good friend, but it can also be one of those friends that will waste tons of time if you are not careful. Every time you start doing something, remember that you will continue to do it for the rest of your life. Of course, unless some internal or external factor reminds you to do something else. On the other hand, when you start working without knowing what the expected outcome is, it can waste many hours or days of hard work to realize it is something you shouldn’t be doing. If you still want to achieve your goals, don’t be a busy and hard-working person. Be a person who plans hard and only does purposeful things.

2. Self-development

Develop yourself ten times harder than when you do other work, and you will feel like you are moving ten times faster towards what you want. Most of the hard work you need to do to achieve success is focused on replacing your daily tasks and habits with the good habits of successful people. By carefully examining your working methods, you can change the results you achieve, the value you provide, and how you are perceived by yourself and others. If you can implement a training program and habits like Bruce Lee, day in and day out, then there’s no doubt that one day you could become a remarkable martial artist, right? So why not follow those who have achieved resounding success in their work? Think about what would happen if you integrated daily tasks and habits that help others unlock the power and creativity they need to succeed in work or life? Literally, you can start manifesting everything from today and achieve amazing results immediately. The only requirement is to set aside old habits and limitations. Make space for new habits. However, you should also consider carefully before discarding; if you don’t recognize the weeds among the flowers, you won’t be able to pull them out. Success is not achieved by chasing away old habits, but by letting them go and building a new habit in their place.

3. Confidence

Without confidence, you will never get what you want; you can work day and night but will never succeed. Sometimes, all those gaps can separate us from the goals in our minds. If you can eliminate these psychological barriers, you will find that you can just reach out and grab what you have been pursuing for so long. As long as you don’t believe you can achieve success, you will always make excuses and avoid it. Simply because you are uncomfortable or even afraid of having something you don’t think you can have, or becoming someone you don’t believe you can become.