Fridays are better than Mondays and the month end period is better than the rest of the month and days around holidays are the best for positive stock market movement.

One gripe though. #1 is way over-prioritized compared to other items like paying down credit card and student loan debt. Advising people to pay cash for a vacation ahead of paying off CC and student debt is bad advice.

$40k of student loan debt at an average rate of 8% will cost you $3200 per year to put off. You’re far better off buckling down and paying off your loans sooner than you are on a dream vacation for cash. Once you pay your loans down, that money that would have gone to the bank to pay off interest is better served paying for margaritas at the beach. Maybe RJ can shed some light on this particular decision?

I’m 26 years old and have covered a large portion of what’s here. I think it is absolutely reasonable if you start soon enough. Here’s where I stand (if you’re interested):

#1 – Outstanding
#2 – In Progress
#3 – Done
#4 – In Progress (See #2)
#5 – In Progress
#6 – Done
#7 – Done
#8 & #9 – Will be done in Jan
#10 – Done
#11 – Done
#12 – Done
#13 – Incomplete
#14 – Done
#15 – Done
#16 – Done
#17 – Done
#18 – Incomplete
#19 – Not realistic in my view unless you’re talking about variable expenses only.
#20 – Incomplete

JD – if you do make a list for other years, or if anyone does, please keep in mind that we aren’t all the same, that’s the biggest problem I’ve found with those lists, they assume we have kids, we all finished school by 22-24, we all own a home, we all plan on retirement asap, etc…I would like to see unique lists or paths that we can follow (like a pick-your-own-adventure book).

Of course we’re all different, but some universally sound advice there

@Luke – Thanks Luke. My goal was to give an outline of different goals to reach in your 20′s. It’s not as if you have to reach them all. Although, if I were listing the goals from most important to least, a six month emergency fund would be in the top five most important.

@JD – I can’t thank you enough for the link.

From what I read, it’s possible to buy multi-unit residential properties in the USA for $100k or less (very rough estimate from reading PF blogs there!) – the average price for a house in the UK is over £200k/$350k.

So, taking out a mortgage on a reasonable home and saving 6 months of living expenses by 30 doesn’t look very likely here!

Unfortunately life, mortgages and children often get in the way! 6 months of living expenses for me would be a 10% deposit on a modest 2 bedroom flat in a reasonable area – I wouldn’t have this sort of money just sitting around getting pounded by inflation!

Brett