Financial Tips for young adults.
- PRECISE FINANCIAL SERVICE
- Dec 31, 2019
- 1 min read
Updated: Oct 31, 2023
When you’re young, it may seem like there’s no need to save money — you can always do it later, right? However, while it might seem easy to live your life from paycheck to paycheck for the time being, starting to save now will prepare you for the future and protect you in case of emergencies.
CREATE A BUDGET:his is probably the most important part of starting your savings — make a budget and sticking to it is a great way to save. Don’t worry; this doesn’t mean that you’ll never get to have fun in life again. Sorting out a budget will help you track where your money is going every month, so you can allocate your funds to bills, entertainment, and savings.
START SAVING EARLY: When you’re not earning much, saving may seem like a big challenge, but setting aside a few bucks a week can still help down the road.
SET ASIDE ⅓ OF YOUR SALARY: As a young adult, you may not know how to start saving, but it doesn’t have to be hard. Many people follow the one-third rule, where they save $1 for every $3 of their income.This makes it easier to weather financial difficulties in the future, including:
Home repairs
Layoffs
Surprise expenses
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