Financial Steps to Take in Your 20’s

Here are a few financial steps to taking your 20’s that will safeguard your future.

So you’re in your 20’s and hustling to make ends meet is second nature to you and you’re young so why bother putting any of that money aside for a rainy day right? Wrong!

Now it’s the perfect time to start building your financial future and you don’t need much money to do so. Give investing a try!

Many people make the mistake of believing that you need a huge amount of money before you can start investing, but this isn’t necessarily true. You can start small and get in some solid practice by using an app that invests your spare change for you like Acorns or a micro investing app like RobinHood.

Understand the difference between good and bad debt. Many people believe that a good financial aims to be to live a debt-free life. While the principle behind it is sound, reality is a lot different. In fact some debt can actually be good for your finances.

Debt that helps to generate a greater return than it costs is generally considered a good debt and can be essential for building your finances. Carrying credit card debt once you’ve built a decent credit history is considered a bad debt.

Start collecting credit card points! Using credit cards to accrue rewards is a great way to make the most out of your money and get things for free simply by doing your normal spending habits on the right credit cards. If you get into a habit of doing this in your 20’s the more rewards you’ll be able to accrue.

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