Cyprus’ youth talks money: How to balance money in your 20s

By Drosis Louka

Economists argue that, due to impatience, our generation prefers to spend rather than save.

While there might be some truth in this statement, both saving and spending matter for different reasons – especially in Cyprus. The question is which should matter more in our 20s.

It is no secret that saving carries more weight at 20, as you gain the benefit of time – also known as compound growth. Savings at 20 have decades to grow and even small amounts can snowball.