Welcome to adulting. You are officially out on your own - sweet independence! However, with independence comes responsibilities; paying your bills, getting started in your career, lowering your debt, to name a few. This is the time to begin taking steps in order to establish a strong foundation of responsibility when it comes to managing your finances, building financial security and ultimately, wealth.
Every person is different and will naturally have different financial goals and timelines but what is common is to feel confused or even overwhelmed when it comes to money, because ironically, even though money plays a significant role in our lives, most of us do not get any formal personal finance education in school or otherwise. For this reason, we have provided broad suggestions to assist with how to think about money in your twenties and encourage you to refine them to fit your personal circumstances.
Start Educating Yourself About Personal Finance
If learning about personal finance feels intimidating, you are not alone. According to research from the Global Finance Literacy Excellence Center, over 60% of Americans are financially illiterate and uneducated. While becoming financially savvy requires effort and attention, it is not only doable but extremely rewarding.
The most important investment you will make is learning about personal finance. Effectively managing your finances will put you in a better position to handle expected and unexpected expenses that will inevitably arise throughout your life. There are a number of ways to begin educating yourself, you can start by reading books on finance and investing, consistently reading publications that address the world of finance or take an online course. Any amount of time dedicated to education around your finances, will be invaluable and empowering.
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