43 Financial Tips for Your 20s

There are so many problems and financial challenges that come with being an adult.  You need to know the to succeed in life.

Tip #1: Work First and Play Later

One of the most important things you can do while young is to set a long-term goal that will motivate and inspire you. If your dream is to retire by age 45, then you should try setting up a realistic plan for how much money you'll need in retirement and start preparing now so that you're on track once the time comes.

Tip #2: A House Is Not An Asset

It seems like everyone you know is buying a house. Simply because everyone else is doesn’t mean you should. If you can rent out rooms in your house or buy a duplex or other multi-family property, your house can become an asset.

Tip #3: Cut Back on Any Vices

Smoking, drinking, and eating out can quickly add up and eat into your budget. If you want to get your finances in order, it's time to start cutting back on any vices costing you money.

Tip #4: Learn How to Cook

Eating out is expensive. And as a young adult, you are making enough money to eat out often, yet, should you? There are many recipes that are inexpensive and quite healthy. Spending $15 here and there adds up to thousands of dollars over an entire year.

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