8 Things Young Adults Need to Know About Money: How To Build Wealth in Your 20's and 30's
Are you in your 20's or 30's? Would you like to have a great financial life? Follow these 8 simple tips to save money, build wealth, and have a great retirement.
Don't spend more than you make. Make sure you pay your credit card bill in full at the end of each month.
Either you control how you spend your money, or other people control how you spend it. Don't give in when friends want you to go on expensive spending sprees. Learn about finance so you can make good investments without someone telling you what to do -- they might not always have your best interests in mind.
Keep track of what you spend. Keep your expenses as low as possible.
Prepare for Emergencies
Put some money into an emergency fund every month. You never know what might happen.
Save for Retirement
The sooner you start saving, the more you'll have when you retire. Start now.
Learn Everything You Can About Taxes
You'll be able to save money and meet your financial goals sooner.
Protect Your Health
Make sure you have health insurance. Emergencies quickly get expensive! Live a healthy life so you have less health problems down the road.
Guard Your Wealth
Make sure you're fully insured against any possible problems (a health crisis, a fire in your home, etc.). Talk to a fee-only financial planner if you need help.