It's never too early to start creating long-term wealth. You might think of your 20s as the time to be financially irresponsible and spend without care, but this might be the ideal point in your life to start building a safety net for later on in life.
Consider the following specific tips that any 20-something could benefit from.
Start saving - now!
We've said it once, and we'll say it again - as the Rolling Stones sang, time is on your side. You may not be earning as much as you will when you climb further up the career ladder, but even the small amounts you put into a savings account now will snowball dramatically over the years and decades. You don't necessarily need to make a concerted savings plan just yet (although that would be good), but you should at least get started.
Develop good spending habits
Time can be a double-edged sword. As well as serving as a great wealth-building tool, it can also be a source of false confidence, leading you to believe that whatever spending mistakes you make can just be rectified somewhere down the line. Rather than getting into debt now and justifying reckless spending, use your 20s to develop the good financial habits you'll lean on later in life. For instance, ask yourself if you need to spend so much on consumer products - with so many legal streaming services available now, you may not need to buy stacks of DVDs and CDs anymore.
Build up a credit score
Having a rock solid credit score will be the key to securing finance later on for more high-stakes wealth building activities, such as starting a self-managed super fund. With the right behaviour in your 20s, you can help ensure you have an attractive credit rating for years to come. Don't just make payments promptly, though - you might also consider taking out multiple credit cards in your name but using only one, which will look good in any lenders' eyes.