Too much financial advice is about pulling yourself up out of hardship.
Im glad it exists; people in a money hole need a way out.
But wouldnt you love to skip the hole-digging and get right to the having your life together part?
Your early 20s is a key place to set a financial foundation.
Hint: Choose the latter.
Our team has compiled alist of creative waysyou can fatten your bank account this week.
This is a long list, so dont get overwhelmed.
Well keep it updated as offers changes or expire.
Whats Your Credit Score?
This sounds like a dreadfully boring place to start, but its key to making a solid financial plan.
you might get afree credit reportdirectly from a credit bureau, but that wont include your score.
You might find better options on your own.
Did you know?
It means you havent borrowed or used credit cards long enough to generate a credit history.
How Do You Make a Budget?
But you should figure out how to make a budget that works foryou.
So you dont have to keep a detailed log of every burrito you buy.
How Will You Pay off Debt?
That means you could make a plan.
Thedebt snowball methodis a smart plan if youve got multiple accounts to pay off with limited income.
If you have federal student loan debt, look into your repayment options.
An income-driven repayment plan could help.
Private debts and even credit cards might have more repayment flexibility than you think, too.
Use your monthly budget to see how repayment fits in.
Whats Your Long-Term Savings Plan?
I know:OK, boomer.Its far off.
Youll probably work forever.
Im not asking you to pick out your condo in the Florida Keys.
Just add aretirement savingsbucket to your budget, and thank your wise young self later.
Act now:Set up paycheck contributions if your employer offers a401(k).
Do You Have an Emergency Fund?
(Ive been there, and the answer is definitively: YES.)
Dont be intimidated by recommendations that an emergency fund needs to cover six months salary.
If I were you, that would keep me from ever starting one in the first place.
Instead, just set aside money as you’ve got the option to.
Those small moments can make or break your financial health, so find tiny ways to always be prepared.
This advice is fine, but you need a solid foundation first.
It sounds appealing right?
Check it out here!
