3 Money Tips For 20 Somethings 

No one comes out of the womb immediately knowing how to effectively manage their money. It takes a concerted effort and years of experience to master your finances. However, everyone would have a much easier time, and much more comfortable retirement if they could learn from others’ mistakes before them. After all, the fewer mistakes you make in your younger years, the less you’ll suffer in your later years. Here are some of the most useful financial tips for people under 30.


Avoid Credit

There’s a reason why so many young people are in debt. They are under the impression that a credit card is a magical source of money that we can use to buy whatever we need.  Unfortunately, not only do we have to pay this money back, but also with interest attached. Ideally, you should avoid buying with credit, and only use it for large expenses that you plan on paying back on the schedule. 

Letting your debt build and build will only create a significant burden for you that you will carry on for years to come. Pay with cash whenever you can comment and only use credit to build up your score so that one day you can buy the house you’ve always wanted.

Always Have Savings 

Many people don’t realize how little it takes to build up a nice amount of savings. The sooner you start putting money away, the more you will benefit from it later in life. Even something as small as several dollars a week can add up over time. 

You’ll see that not only will you have a nice amount of emergency savings to draw from, but you can even use it as a down payment one day on a big purchase like a car or home. There are many different ways to put aside money each month.  Try to find a few different methods that work for you, and once that money has been put away don’t touch it again!



One of the biggest reasons why people are careless with their money is because they don’t budget carefully. Ideally, you should have a budget that allocates how much you’re allowed to spend on each area of your life each month.  The more boundaries you can give yourself with your spending, the more you’ll have leftover at the end of the month.  

If you allow yourself to spend carelessly, then you won’t have enough money left over for important expenses. Always budget for your important bills first, and then leave room for the fun stuff.

The best part is there are all sorts of applications out there that make it easier to budget than ever directly from your phone.

Posted in: Money Saving Tips