05/31/2026
After graduating 40 years ago, these are the Six Things I Wish Someone Had Told Me When I Graduated
To the Graduating Class,
First, congratulations. You have accomplished something important, and you should be proud of what you've achieved. As you move into the next chapter of your life, there are a few lessons I wish someone had shared with me when I was your age.
These aren't complicated secrets. They're simple principles that, if applied consistently, can have a tremendous impact on your future.
1. Know Your Cash Flow
It's not just about how much money you make—it's about where your money goes.
Many people think it's the big purchases that keep them from getting ahead. More often, it's the small daily expenses that quietly drain your finances. The $5 coffee every morning, the subscriptions you forgot you signed up for, the in-app purchases, the convenience purchases—they add up faster than you think.
Take time every six months to review your spending habits. Ask yourself:
• Where is my money going?
• Which purchases add value to my life?
• Which expenses have become automatic habits?
This doesn't mean you shouldn't enjoy life. It simply means being intentional. Financial success starts with awareness.
2. Make Your Money Work for You
At some point, you'll realize there's a limit to how many hours you can work. That's why it's important to learn how to make your money work for you.
Think of your money as an employee. Every dollar you save and invest has the potential to go out and earn more dollars on your behalf. The goal is to build financial resources that continue working even when you're not.
This can start with something as simple as a high-yield savings account and eventually grow into investments, rental properties, or even a business.
The goal isn't just to earn money. The goal is to own things that earn money.
The sooner you begin, the more time your money has to grow and compound.
3. Start Saving Now Because Life Happens
I can guarantee one thing: life will surprise you.
At some point, you'll face an unexpected expense. It may be a car repair, a medical bill, a job loss, or another emergency you never saw coming.
The best way to prepare is to start saving now.
You don't need to save hundreds of dollars each month. Even $25 per month is a great place to start. What matters most is developing the habit.
Learning to live below your means isn't about deprivation. It's about creating options and reducing stress when life throws you a curveball.
Your future self will thank you.
4. Understand Compounding Interest
Compounding interest can be either your greatest friend or your greatest enemy.
Imagine a snowball rolling down a hill. As it rolls, it gathers more snow and grows larger. That's how money grows when it's invested and earning interest.
The earlier you start, the more powerful compounding becomes.
But compounding works the same way against you when it comes to debt.
That credit card balance you carry from month to month doesn't just stay the same. Interest is added, and then interest is charged on that interest. Before long, a small purchase becomes a much larger expense.
Use credit wisely.
Good debt can help you build a future. A reasonable car loan that allows you to get to work and earn an income may be beneficial. A mortgage can help you build equity.
Bad debt, on the other hand, is debt used to finance a lifestyle you can't afford. A $20 fast-food meal charged to a credit card can become much more expensive if it isn't paid off promptly.
Use credit as a tool, not a crutch.
5. Work With Trained Professionals
Notice I said trained professionals.
Many people believe doing everything themselves saves money. Sometimes it does. Other times, it costs far more in the long run.
Whether it's a mechanic, contractor, financial professional, tax preparer, CPA, attorney, or another expert, there are times when professional guidance can save you money, time, frustration, and costly mistakes.
Could you change your own oil? Probably.
But what happens if you make a mistake that damages your engine?
Could you prepare your own taxes? Maybe.
But what if you miss deductions, make an error, or create problems down the road?
Don't be afraid to ask for help from people who have spent years developing expertise in their field.
6. Never Stop Learning
Commit to reading or listening to at least two self-improvement books every year.
One of the greatest advantages you have today is access to information. Through audiobooks, podcasts, and digital content, you can learn while driving, exercising, or doing everyday activities.
Always ask yourself:
"How can I become a better version of myself?"
One of my favorite books is The Richest Man in Babylon. Despite being written many years ago, its lessons are timeless.
Among its teachings are:
• Pay yourself first.
• Save at least 10% of what you earn.
• Learn how to make your money work for you.
• Seek wisdom from those who are successful.
• Eliminate debt and build financial stability.
The world is changing rapidly. The people who continue learning and adapting will be best prepared for the opportunities ahead.
Final Thoughts
As costs rise and retirement becomes increasingly the responsibility of the individual, these principles matter more than ever.
You don't need to be perfect.
You don't need to have everything figured out today.
You simply need to start.
Make smart decisions. Learn from mistakes. Stay curious. Invest in yourself. Be patient with the process.
Most importantly, know that you don't have to do it alone.
I wish each of you success, happiness, and fulfillment in whatever path you choose. If you ever have a question, don't hesitate to reach out. And if I don't know the answer, I'll help you find it.
Good luck, congratulations, and I look forward to seeing what your future holds.
Best wishes,
Martha "Michelle" Nave, FSCP®
Agent, New York Life Insurance Company
Financial Services Professional • Ermer & Associates, Inc.
