In the early stages of a career, ambition often outpaces wisdom. For many young professionals, the desire to succeed financially leads to choices that feel right in the moment—yet carry consequences that echo for years.
Registered Financial Planner Jesse James Cooley Llamado knows this firsthand. At 21, the singular focus was earning money quickly, not understanding its purpose. “The goal was always more—more success, more money, more proof that it was all working,” Llamado told Financial Adviser PH. Chasing gains without a strong foundation became the biggest mistake.
Budgeting received no attention. Every peso earned vanished by month’s end. “No one talks about how hard it is to save when you’re young and everything feels urgent,” Llamado explained. “Rent, food, social life—they consume the paycheck fast. If you’re not careful, you wake up with no savings and no idea where the money went.”
That wake-up call proved pivotal. The lasting lesson? Financial success starts with intention, not income.
“The greatest currency isn’t money—it’s time,” Llamado said. “And how that time is used in the early 20s matters more than most people think.”
The Real Risk: Delaying Financial Literacy
Many assume financial stability will arrive with age or promotions. Yet years spent without discipline create cycles of overspending, debt, and regret. “The earlier financial literacy begins, the stronger the foundation,” noted Llamado.
One crucial realization: Money is a by-product, not the goal. Unless that mindset shifts, rising income simply magnifies existing habits. Clarity emerged after reading books that redefined wealth. “Financial freedom isn’t about retiring at 30. It’s about knowing the ‘why’—and aligning money with that.”
Building Structure Before Wealth
After several financial stumbles, progress came through discipline—not sudden windfalls. Weekly budgets, personal balance sheets, and written goals became routine. The process felt tedious, especially on a modest salary, yet proved effective.
“Structure had to exist before savings could grow,” Llamado shared. “That’s the unglamorous part—tracking expenses, reviewing monthly targets, asking why money is leaving. That’s where change happens.”
A pivotal move was joining a professional certification—later the Registered Financial Planner program—which supplied a framework for long-term planning. “Certification wasn’t about a title; it was learning to lead personal finances before leading anyone else’s.”
Advice to the Next Generation
Asked what guidance would be offered to a younger self, Llamado delivered a concise answer:
“Understand purpose before chasing a paycheck.”
Trends fade, vague goals collapse, and early-retirement fantasies fail without clarity. Instead of asking, “How can I earn more?” the better question is, “What should money accomplish?”
This switch—from hustle to intentionality—separates short-term excitement from long-term stability.
What 21-Year-Olds Need to Hear
- Start small, but start now. Even basic expense tracking builds awareness.
- Question every habit. Each spending pattern has a root cause—identify it.
- Prioritize behavior. Discipline outweighs income.
- Keep learning. Financial literacy is lifelong.
- Seek mentors. Books and seasoned professionals accelerate mindset shifts.
Money rarely solves problems; clarity does. And the earlier that insight settles in, the stronger the outcome—proof that knowing why money matters is the first defense against mistakes that echo for decades.
