The 14 smartest purchases to make in your 20s

In your 20s, just starting out in your career, it can be hard to part with your cash. Sometimes, however, it’s the smart move.

“I was a great saver in my 20s,” Kate White, former editor-in-chief of Cosmopolitan and author of “I Shouldn’t Be Telling You This” told Business Insider.

But what I didn’t know and wish I had is that it’s so much smarter to buy a few great quality items — in terms of clothes, furniture, accessories — rather than a bunch of cheaper stuff.”

With the help of Michael Egan, certified financial planner and partner at Egan, Berger & Weiner, LLC, we compiled a list of the smartest things to buy in your 20s.

Keep in mind that everyone has different needs and priorities, and while this list is far from comprehensive or universal, it’s a good starting point for young people who are unsure of where their spending money should go:

NOW WATCH: This drummer created a whole song by only using the sound of coins

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.