Ahh, the fresh spring air and your whole life in front of you. If you are just graduating from college, you have insane advantages when it comes to money.
Whether you want to start your financial independence journey, get your dream job, or simply make more money, these are actually good ideas for anyone at any age. But if you're under 25 you have the greatest money advantage of all – time. And don't be too hard on yourself or get discouraged. Life teaches you how to live it.
I made a lot of money mistakes when I was 22. I wish I knew all of these money tips back then. So pay attention. This stuff actually works. And if you want to go deeper, check out my favorite money books or sign-up for the Millennial Money course, where we cover literally everything you need to know about money. For another perspective, here's a Millennial Money podcast on money advice for new college grads.
SEE ALSO: 20-somethings say the scariest parts of adulthood are financial — and inevitable
DON'T MISS: A financial adviser shares the 3 most common mistakes new college grads make with their money
1. Save at least 20% of your paycheck.
Save at least 20% to 25% of your paycheck, and then blow the rest having as much fun as you can. Seriously, while it’s important to save as much money as possible if you can hit that 20-25% mark, you will be in good shape. You can spend guilt-free knowing that you are saving more than most and getting a massive head start on building wealth. Try to escape living paycheck to paycheck as quickly as possible. For more info here’s a deeper dive into how much money you should save.
2. Start tracking your money and investments in one place, even if you don’t have much money.
Sign up for Personal Capital, the free net-worth tracker that I use, so you can track you savings, account balances, and investing performance. I only use the free version and it’s my favorite personal finance app. Tracking your savings and investment returns consistently will motivate you to save more.
3. Build better money habits.
Here are the 51 best money habits that I personally used to build wealth starting at age 24. It only takes 30 days to build a habit. Small, simple changes will lead to massive gains over time.
See the rest of the story at Business Insider