What I Wish I Knew About Money at 18, now that I’m 23

When you’re 18, money often feels simple. You earn it, spend it, maybe save a little if you remember. But, by 23, life starts to look different. Rent, expenses, and real financial decisions come into focus, and I wish I had a clearer roadmap earlier.

Looking back, here are a few of the biggest lessons I wish I had understood at 18, and how they shaped the way I think about money now at the age of 23.

At 18: The “I’ll figure it out later” mindset

At 18, financial decisions don’t always feel urgent. A part-time job might cover gas (on and off the track), food, and a few fun extras. Credit cards can seem like a helpful but complicated safety net and saving for “someday” feels abstract.

What I wish I knew: Small habits matter more than big intentions.

Saving $10 or $20 here and there didn’t seem impactful at the time, but building the habit of saving is what really counts. Even a modest emergency fund can prevent stress later.

I also underestimated how easy it is to fall into debt. Credit cards can build credit, but only if they’re used carefully. Carrying a balance or making minimum payments can create long-term costs that aren’t obvious at first.

At 23: “Why Didn’t I Start Sooner?”

By 23, priorities tend to shift. You might be paying rent, beginning a job, or working toward independence. Suddenly, money decisions feel more permanent and more personal.

What I’ve learned: Time is your greatest financial advantage.

Starting to save and plan early, even by putting away small amounts into something like a money market account that earns interest, can make a meaningful difference over time. Financial growth rewards consistency, not perfection. The earlier you start, the less pressure you feel later.

Budgeting also becomes less optional and more essential. At 18, I had no interest in creating a budget. But at 23, I track every expense. Budgeting starts to feel freeing because you know where your money is going and can plan intentionally.

Shifting from reactive to intentional

The biggest difference between 18 and 23 isn’t income, it’s mindset.

At 18, money is often reactive—you spend what you have and adjust afterward.
At 23, the goal becomes intentional—you plan first, then spend in alignment with your priorities.

That shift might look like:

• Setting monthly savings goals
• Tracking spending categories
• Building credit with purpose
• Asking questions and seeking guidance

It’s not about having all the answers, it’s about being willing to learn, and lately, I’ve been on a learning journey.

On that note, another lesson I have learned is that if you are going to seek out financial guidance on social media platforms, make sure to do your due diligence to ensure that the sources are trustworthy.

You can follow along with some of my financial lessons learned by following Taylor Hoar Racing and EastRise on social media and watch my “Get Ready with Me… Financially” video series. We cover how to track and create savings that are there when life inevitably throws something unexpected at you.

What stays the same

If there’s one thing I’ve realized, it’s that no one has it completely figured out.

Financial confidence doesn’t come from knowing everything, it comes from taking small, consistent steps and staying curious along the way. Whether you’re just opening your first account or starting to think about long-term goals, every step counts.

Final thoughts

At every age, whether you’re 18, 23, or beyond, you don’t have to navigate money alone. I encourage you to start early and take advantage of resources offered.

And you don’t need to be perfect with money to make progress, too. From what I know so far on my financial journey, there’s one lesson worth learning early. That is to start now, stay consistent, and don’t be afraid to ask for help along the way.