By Lyle Solomon
The time you spend after graduating isn’t really when you’ve made the wisest financial moves. Maybe you live with your parents and have enough financial support from them.

Let's admit, time is the most significant asset one can have. And, if you have already entered your 20s, the outcome of waiting to invest money is considerable. You might think investing in your 20s is too early to start with practical life or estimating your future financial state, but it definitely makes a heck of a difference on your road to retirement.

Don’t fret if you have no idea how to go about it. Here, I enlisted some mistakes and lessons I learned in my 20s.

Mistakes and Lessons in my 20s

Did you know investing in your 20s can give you an average of an 8 percent return rate, and you will be able to save approximately 12 percent of your stipend? Putting away just $15 per day can help you reach $1 million before you blow candles on your 65th birthday.

Check out these “mistakes come lessons” to make the most of each opportunity you get in your early 20s.

Set Serious Goals

For many people, the primary financial goal is to go out as much as they can and have enough savings to left to pay the rent at the end of the month. However, these paltry savings are never fulfilling. Put simply, whether alone or with your partner, it is important to set goals and make an action plan to achieve them. For instance, if buying a house is one of your long-term goals, you might need to move to a less expensive area to build savings.

Determine a Reliable Budgeting System

Most youngsters in their 20s define their budgeting system by the lack thereof. However, it doesn’t work for everyone, just as it didn’t for me until I started tracking all my expenses and spending. In the beginning, you may feel you‘re slacking if you don’t document every penny you spend. Considering this, it is always better to keep a simple budget that works for you. Always opt for a budgeting system that not only reflects you but also works the best for you.

Increase Your Savings

If you begin your journey with something easier, there is nothing simpler than saving some amount every month.

You don't have to make huge investments or buy stocks to get started. If you can contribute less than $100 monthly, you can take a good start. But the more you put away, the more you will save. If you're a beginner and don't know where to start, using a retirement calculation can help you figure out the amount you should start with. Preferably, this smart tool gives you saving goals and helps you work towards them. One savvy thing to make it work for you is to increase your saving rate whenever you get a promotion.