Saving and Investing Advice for Young Adults


We are living in a world where success is equal to the income that you are getting every salary. For young adults living their lives to the fullest, it is better to save up while you are still free from responsibilities of being married and having children. It would be nice to know that your future family will live comfortably without worrying where you will get the money for your next meal. Knowing where your kids will study and knowing you have more than enough funds gives you a peace of mind. There are a lot of things you can invest in. you can start a new business, it can be a restaurant, a shop or anything that you can work with passion. You can also invest with a demo if you would like to earn profit without exerting too much effort.

Today we have listed down some of the things a young adult living in the twenty first century can do to invest and save for the future. Some of these things might be a practice that you are already doing but we hope that this list can help you out in managing your income from your regular job.

  1. Know where your income goes.

Now that you are earning your own income, you will realize how important it is to know that you are not exceeding your expenses. You can list down all of the things that you have to pay by budgeting all your expenses. If you can make small adjustments by lessening your cost on some of you dues, then you can save it up and before you know it, you already have enough funds to buy whatever you want to buy. Budgeting and lowering down your expenses can have a huge impression on your financial situation.

  1. Avoid using credit cards.

It is easy to swipe and spend now using your credit cards. Then you will realize how much harder it is to pay because of hidden charges and fees and interests. To save up for you future, do not rely heavily on purchasing your things using credit cards. It is sweeter to buy what you want using your hard earned cash without thinking about sparing a reasonable account for the credit card. Yes, it is convenient to use a credit card most of the time but aside from the balance, you will also be paying the interest on a preposterous rate. Instead of spending and paying your credit card dues, save money and reap what you sow in the future.

There are jobs that can pay without requiring a college or a bachelor’s degree, but you might want to consider getting a degree anyway. People with degrees on their belt tend to be preferred and considered compared to applicants who are non-degree holders. There are times that the salaries are also different. Your degree might come in handy once you are already tenured on the job that you have signed in. You may say that you cannot afford getting a degree but you can try to work it out by studying in a community degree then move to a university after 2 years.

  1. Value your money.

They say money cannot buy happiness, but it can certainly make your life more comfortable. Make sure to know what your money is worth and do not simply spend on things that you just want. Think of the long term outcome of your purchase, especially if the amount is higher than what you normally would pay. Will you be able to use the item that you bought five or ten years from now? Is the item worth the purchase? Think once, twice or even thrice before you purchase just to be sure that you will not waste your hard-earned money on an expensive purchase.

  1. Invest on stocks.

You cannot simply put your money on a bank and expect it to grow. You can put some of your income on investments like stocks. You can try binary options trading wherein you just need to choose the right stock at the right time for you to earn. With binary options, you can double your income in no time by simply knowing where and when to place your stocks for you to earn. It is simple but you need to be strategic, too. By placing your money on investments, you are sure that your savings are growing while you are enjoying your life as a single twenty-something.

  1. Know your taxes.

Since you have a nine to five job, it is expected for you know that you will be taxed even before you are handed your first salary. You need to know how much will be deducted from your net income and know how to compute your obligations and financial goals. There are several tax calculators that you can use that are available online. These websites like Turbo Tax can show you how to compute the money that you will be left with (net or take-home pay), how much of your salary goes to taxes and how much is your gross pay. This is also a preparation for you to know how to compute your annual tax return.

  1. Watch your health.

Sickness and accidents are unforeseeable, but you still need to be prepared for these situations. Your company might offer health and insurance but you still need to save up for medicines or maintenance. Keep yourself healthy by eating fruits and vegetables, exercising and avoiding vices like smoking and excessive alcohol drinking.

With all these in mind we know that your success in the near future is inevitable and living comfortably will not be a problem. By saving and investing as early as you can, your dream house, your dream car and all the things that you would like to have is just at hand. If you think we have missed a tip on the list we have mentioned above, feel free to leave them on the comments section below.


Images by fstraub812 and WerbeFabrik under Public Domains CC0


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