The millennial in your life, whether in their early age or stepping out trying to get adjusted to the real-world could take these tips. Finances are a lifelong fight in our community and here are 7 Quick Financial Tips for you to get things in order.
Invest In Yourself
The best investment you can make is in yourself. Start thinking of ventures you can execute to enhance, sharpen and perfect your current skills. Then find ways to invest in new skills you would like to learn. This is one of my favorite points and also a tip from the amazing Warren Buffett!
Write Down Your Financial Goals
In the words of Benjamin Franklin, “if you fail to plan, you plan to fail.” Be About Your Benjamins!
Set Up Alerts To Pay Your Bills On Time
If possible, write down all of your bills in a calendar format so you know what comes out when and how much.
Set A Budget (Bi-Weekly To Monthly) And Stick To It
The main detriment to a lot of millennials is stepping outside of their budget and not sticking to it. Here’s a simple way to make things a little easier.
The Top Categories:
- Bills/Expenses (Electric, Phone, Car, Gas, Groceries)
Start A Savings
Even if you are placing spare change or $1; start with something! There a plenty of credit unions and even some large banks that would allow you to set up a savings account with as little as $5 and others at no cost at all.
Have A No Spend Day
Sounds crazy but packing a lunch at home stops you from having to go out and grab something to eat. A no spend day prepares you to know that certain days, you don’t have to use that debit card or dig into your wallet to spend your hard earned cash.
Look For Ways To Have Your Money Grow
Whether it is through a savings account or through investments. Explore the possibilities. Hashtag #MakeMoneyMoves. Oh and one final note? STOP talking about what financial steps you are going to take and TAKE THEM. Make this a now goal.