Your 20s are a defining time in your life. Having your finances together becomes more necessary as college becomes a thing of the past and adulting becomes reality. It’s the time where you set the stage for your future. Starting off your adult life on the right foot is essential, financially, as I firmly believe that it will come back and haunt you if you don’t.
Although I haven’t said good bye to my 20s just yet, I have made plenty of mistakes along the way and are now playing recovery as I work on getting us out of debt once and for all. My husband and I have tackled building our emergency fund in only three short months, building up our savings account all while tackling the student loans we acquired over our college careers.
If you’ve started out on the wrong foot, don’t stress. It’s not too late to make the changes you need to and set yourself up for financial success.
Create a Budget
Understanding where your money is going, how much you spend, how much you save is KEY in getting your finances in order. I know I’ve talked about it many times but Mint is a free budget software that can connect to your accounts. It’s a great, non-intimidating way to start, in my opinion. It shows you what you spend on food, clothes, coffee, bills and more. For me, this was eye opening as I was spending SO much on groceries specifically that it was sickening.
Creating a budget that works for you does not have to be complex. Some people prefer dollar amount budgets, I personally use percentage budgeting.