Financial Tips For Young Professionals by Sarang Ahuja
• The best way to prepare for one’s future
is to start saving money early in life.
• Today’s millennials face several
obstacles on their path to financial
stability, including substantial college
loans and an unsteady job market.
• In a recent study published on Forbes, it’s
predicted that 30% of millennials would sell
an organ to alleviate their debt for $30,000.
• While many young people do not see
financial planning as a feasible tool in their
early careers, there are simple steps that
making planning for the future manageable.
• Here are four tips that all millennials
should consider implementing today.
• 1. Set Up A Savings Account (Or Two)
• 2. Find Ways To Make Budgeting Fun
• 3. Invest In Yourself
• 4. Seek out Alternative Solutions
• The number one priority for achieving
financial stability is creating an emergency
• Savings accounts are critical to the health of
your bank account and to all aspects of your
• They provide individuals with more flexibility,
ease of mind, and most importantly, a nest
egg of support for when life throws you a
• The easiest way to make this happen?
• Place a small amount of money from each
paycheck directly into your bank account. In
time, the fund will grow and offer a stronger
net of support.
• While creating a budget is not a novel idea; it
will absolutely save you money each month.
• Tech-savvy millennials should capitalize on
the inventive nature of online banking apps,
• Mint make budgeting simple by linking the
user’s bank account with their credit cards to
provide a comprehensive outlook on their
current financial state.
• Young millennials may feel under qualified to
apply for jobs that offer a higher income, but
by investing in themselves during their 20’s,
they will be able to develop skills that will aid
them in their future.
• Many local colleges or technical schools offer
night or weekend classes or workshops. In
addition, those looking to earn an additional
income can look into secondary jobs.
• Bartending, babysitting, and freelancing are
all excellent supplemental positions that offer
flexibility and added income.
• These jobs may require long nights or
weekend work, however, individuals will
benefit from the added income and
development of professional and creative
• Finally, many young professionals crippled
with student loans can often lessen their
monthly payments or find alternative
solutions to paying it off.
• Refinancing private loans may be a huge help
in terms of monthly payments, and many
startups are making the process easier and
• Likewise, students with federal loans may
also apply for restructuring their payments
through the government.
• The internet offers a vast resource on ways to
consolidate debt so young professionals can
focus on saving and preparing for the future.
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