Money concerns in your 20s


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If you are in your 20s this presentation can help you understand your financial priori tie deal with your student debts and establish good habits that will last you a lifetime

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Money concerns in your 20s

  1. 1. Helpful Financial Information from National Debt Relief … Money Concerns In Your 20s: Setting Up Your Finances Right From The Start Money concerns in your 20s may seem like a trivial thing since you just got out of school. But considering the country’s current financial situation, you may want to start getting serious about your finances early on. Most people are looking for financial tips for new graduates because they are eager to set up their finances in such a way as to avoid the mistakes that their elders made. (Continued) Brought To You By:
  2. 2. Helpful Financial Information from National Debt Relief … Millennials, or at least those who are still in their 20s have seen how their parents and grandparents struggled with their finances. That experience definitely left its mark and is influencing how people in their 20s are reacting to financial situations. According to an article published on, the spending habits of young adults are influenced by their friends, social media and the latest recession. Studies reveal that they are inclined to follow the financial habits of their friends and that they rely heavily on what’s happening in their social media networks. The Great Recession significantly reduced the appeal of credit cards for the young adults - after seeing how it nearly drove their parents and grandparents under. Whether this is true for you or not (assuming you are in your 20s), you need to put your prejudices aside and figure out how you should set up your finances today. You need to start it right so that your momentum in building up your wealth will not be hampered by mistakes that you could have avoided early on. Typically, your money concerns can be divided into two: your debts and your financial goals. Dealing with your debts out of college Let us start with your debts. Given the fact that you’re in your 20s, you know that one of your major concerns right now is your student loans. The really bad news about student loan debt is simple - it keeps on increasing. Chances are, you graduated with a lot of them. If that is the case, you need to know that dealing with your debt as early as possible is your best option. By prioritizing this, you are lowering the interest amount that your debt is accruing. It can also help you set up your finances so that you do not have to pass up on financial opportunities because of your debts. According to an article published on student loans debt is now more than $1 trillion and is starting to hurt the economy. Not only is it keeping students from making personal investments, it is also causing the government some serious budget cuts on other programs. That is so they can divert funds to help save the delinquent student loans borrowers. Given this, you know that other money concerns are not as great as the responsibility you have to pay off your debt. This is true even for those that you have incurred other debts in the past such as car d debts or personal loans. So how could you pay off those debts? Here are some tips for you.
  3. 3. Helpful Financial Information from National Debt Relief … • List how much you really owe. Make a list of all your debts – from student loans, credit card debts and other debts. Write down the details of each debt: the lender, interest rate, current balance and monthly payment. This will help you categorize which of them requires your attention the most. Ideally, you want to concentrate on those with the highest interest. • Calculate your payment capabilities. If you already have a job, you need to calculate your income to figure out how much you can afford to contribute towards your debts every month. That way, you can figure out how to set up your budget. If you do not have a job yet and the 6-month grace period for your student loans is up, you need to research how unemployment could be used to delay your billing. • Create a budget plan. Next list your expenses and make sure that you have enough money to pay on your debts. If it is not enough, your choices are to earn more or cut back on your expenses. • Research on the different debt solutions available. There are various debt relief programs that could you use to help make your debt payments more organized. You could use debt consolidation programs to simplify your payment. Research those alternatives you could choose from and then determine would be the most suitable for your specific financial requirement. Financial  goals  that  you  can  set  up  in  your  20s     Apart from getting out of debt, you still have other money concerns to take care of. We have consolidated them into your financial goals. What you have to realize is that as you get older, your priorities will change and so will your financial goals. So be careful about how you focus on each one because while you are working on them, they could become irrelevant. But just to get your started, here are some of the money concerns that you can work on in your 20s. • Build up your emergency fund. As important as getting out of debt is that you need to work on your emergency fund as well. That way, you do not have to put yourself further in debt in case the unexpected happens. You can start with $1,000 as your rainy day fund and just put more money as you go along. • Contribute towards your retirement. You also have to start thinking about retirement - yes even as early as now. If you do not want to wait until you’re 80s to retire, you should start saving up for your future. The thing about
  4. 4. Helpful Financial Information from National Debt Relief … starting early is you can make small contributions but still reach your target. • Raising your credit score. This is an important task for you to work on early in your career. This is not just about having debt It is more of how you will behave towards your debts. You need to learn how to pay off your credit obligations properly. That is primarily, how you will raise your credit score. • Establishing your career. This is not really a financial goal but it is still important because it will allow you to reach your targets. In fact, most people in their 20s are usually focused on this. Figure out what you want to do you desire. • Acquiring possessions. According to the, student loans, after reaching $1.1 trillion, is starting to affect the ability of young adults to make investments - like buying a home for instance. Student loan debt ties up an average of $1,000 per year and any payment made towards interest is actually a lost investment. So as difficult as this may be, you need to look into ways to acquire possessions. Do not let your debts keep you from doing that. The great thing about working on your money concerns as early as when you are in your 20s is that you will have more time to make mistakes. Not that you would not be careful of course. You will still take your time to consider your options but the thing is, you can afford to make risks at this point. So know your options and start working on your finances as early as possible.
  5. 5. Helpful Financial Information from National Debt Relief … Does this sound familiar? • You are tired of worrying about money… • You are losing sleep due to mounting credit card debt… • You are fighting with your partner about the bills… • You are living paycheck to paycheck… • You are falling behind on your debts… • You are losing hope… It’s time to talk with National Debt Relief! Call Toll Free 1-888-703-4948 Now! Or Go To