Young adults should save at least 1/3 of their money so that every time they get
paid they will actually have the money they need. Don’t use all of your money at once, you’ll be broke at the end of the day and that’s not good. Commit to saving regularly for a specific goal like getting a car or an apartment. Put your savings on automatic transfer so, therefore all of your money can go straight to the bank. If you’re a college student pay off all your loans with higher interests just to get them out of the way. Then, you can look at how much money you have left over and spend it wisely. You can use a budgeting app it’s to make sure you know how much you’re going to spend that day or for the rest of the week. Spend a little every day until you reach your budget and when you get your paycheck put money back.
I think young adults should be smart on what they do with their money. You don’t need to go out every night with friends. It’s okay every once in a while. Just think about your loans and other priorities first, because you don’t want to be lost and asking other people to help you out. No matter what your financial situation is right now, you must begin to put money away on a consistent basis as an emergency fund. You’ll never know what will happen the next day or the day after that, you have to always put money away.
Another good thing you should do is start saving for retirement. Here is an example when you start saving early, you take advantage of compounded returns to make more money off your contributions overall. If you do, you’ll have everything you desire when you get all your money from retirement, just another smart way to save. Make sure all your priorities are all done, then see what you want to do with the rest. If I was to get everything done, I’ll put the rest in the bank and keep saving to pay off other things later on. Take control of your financial future NOW don’t wait until the last minute do something now times ticking. SAVE SAVE SAVE!!!!!!