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Life is long. YOu have plenty of time and chances to make mistakes, fix them, and get back on track.

Ask the Bitches: Is It Too Late to Get My Financial Shit Together?

Life is long. In theory, this means you have plenty of time and chances to fuck up, make mistakes, fix them, and get back on track.

And yet we’re surrounded by messages that instill the fear that if we don’t have our financial shit together by the age at which Warren Buffett was starting his prepubescent golf ball recovery empire, we’re doomed to a lifetime of grueling work and poverty.

In other words, if you don’t save $300,000 by the age of 30, you’re financially fucked for all eternity.

Many of the discouraging messages mean so, so well! Yet for the late bloomers, reading about thirty-year-old retirees and debt-free millennials can make it feel like they were late to the show and missed the main act.

And while I love savings and investment projections like this one for the purposes of setting goals… they can imbue the late bloomers among us with a sense of despair. For if you reach your thirties still knee-deep in debt and scrabbling at a meaningful career, it can seem like you’re already way too late. It can seem like it’ll take you forever to catch up. So why bother starting at all?

We got a question along these lines from an anonymous reader a little while back:

“Hi, Bitches. I’m so hooked on your material! Thank you so much for your dedication to financial literacy for us. My only issue is that I’m 26, so when I read through your material, I’m afraid I’ve made too many mistakes already or I’m too old to get on track to where you are. Any advice to us on the older side of this community?”

I’m going to let you in on a little secret, creampuff.

I, Piggy, Co-Bitch of Bitches Get Riches, was twenty-six when I started cracking down on my finances.

So in my book, you’re not late at all. You’re right on time.

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Fomo is real. But.

You Won’t Regret Your Frugal 20s

The topic of regret is a controversial one, especially in personal finance. Whole treatises have been written on the premise that if you live frugally during your twenties and make sound financial decisions for the future, you’ll regret wasting your youth as a joyless loner.

We reject this characterization of a frugal youth for a couple reasons:

  1. It doesn’t take a lot of (or any) money to have fun with your friends.
  2. You can (and should) pursue fun long past your twenties.
  3. You’re at more risk of regretting not saving for retirement than you are at risk of regretting not going out to da clerb that one time.

And yet fear of this kind of regret persists.

I get it! No one wants to constantly feel left out. FOMO is real! But I also firmly believe that no one wants to get to retirement age only to realize that all the money they could’ve lived on for another twenty to thirty years got puked out after a night of binge drinking.

Depending on a single, barely funded income stream after retirement, one that could easily go up in a puff of smoke… that’s something worth regretting.

One of our adorable and beloved Tumblr babies asked recently:

“I’ve been reading this blog for the past three hours or so and just finished the post regarding financial vampires. This reminded me of a dilemma I’ve been struggling with. I’m young and I want to have fun. I don’t want to be 35 and realize that I wasted my 20s worrying about saving money and being responsible. But on the other hand… I really want to be financially well off. Help me convince myself that I won’t regret not going out every Saturday night.”

Honey child, we are here for you.

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