Why is it worth to save money in their 20
Making savings is difficult at a young age, since a large amount of spending - such as clothing, travel and entertainment, come into conflict with a domestic financial issues - rent, utility bills, food and farming. This is particularly relevant issue for women who have decided to start an independent life immediately after graduation or when applying for a new job. Unfortunately, the university does not teach us a vital skill that but the reality is that knowledge and a diploma may not immediately lead you to the desired position and, more importantly, satisfying salary. To avoid capture daily worries and do not feel as if you are in their 20's could barely make ends meet, it's time to learn how to make savings. We have found a few ways you can do this as efficiently as possible.
Create an emergency fund
Emergency Fund - the simplest form of financial savings, which will relieve you of worries both in the present and in the future. However, I have to get used to the fact that from now on you will be spending money is not as easy as before. To start saving money "just in case", will have to indulge in daily, but non-essential spending. For example, instead of every day to buy an expensive coffee from Starbucks, learn how to make coffee at home and buy a thermal cup. At first it may seem that this is a funny economy, but if in a week you will be able to save at least 1,000 rubles, you will understand the meaning. Set aside all the money you could save, but to double them, think about what you could sell clothes or available items. Emergency fund - it's not just a call to your comfort, and the amount of money that you may need, quite suddenly: the car broke down, we need medicine or you were out of work.
financing Experts give different advice on emergency savings. You can start with a certain amount. For example, set a goal to save $ 1,000, then you might want to either increase the amount of, or to accumulate the same amount. By making small steps toward a big goal, you will be able to collect a significant amount without dramatic changes in their lives.
2. Forget the credit card
A large number of credit cards - this is a problem not only for your savings, but also for your financial situation in general. It is best to have no more than 1-2 credit cards, so as not to get bogged down in debt and regular overpayments. Aim to how to pay off the debt as soon as possible on the map, and then abandon it forever. By purchasing a credit card, look carefully at the interest rate and the monthly fee - discard those that require an annual payment.
3. Set aside for retirement
Despite the fact that save for retirement in their 20s it seems completely pointless, many financial advisors recommend starting to do this at this age. Considering how can change your professional interests, in 20 years much more opportunities to increase their income, rather than 30 or 35, and in which case you can put money into an emergency fund. Delay as much as possible, and more from your current salary, in the future, you could be just as mobile as in 20 years. In addition, not all companies offer employment, followed by software, so open your own retirement account - a great idea.
4. Invest in your dreams
Once you get started in extra pension savings and money, you can think about their life goals and dreams that also require funding. We are talking about large-scale purchases, and spending such as cars or real estate, organizing a wedding or a move, and about self-improvement and accumulation of useful and enjoyable experience.
Postpone 10% of each paycheck or large income already in the 20 - the beginning of a great future financial planning. Of course, with all the expenses and savings set aside even a dream of his life can be difficult. In this case, you need to rethink their spending, as well as to find out whether there is a less expensive way to get what you want. When it comes to training, it is worth paying attention to the fact that it is not always expensive courses really justify their investments. A work experience is always available for free or for barter. Daily spending can be adapted to the permanent discounts and sales, and the bulk of the money distributed among the truly global acquisitions.
5. Look for extra income
Any incidental or additional income it is best to wrap into savings. If you have been promoted or have worked overtime, we took extra work at home or in any other way to get extra cash - remember their place in one of your assets.
6. Bleed "financial intelligence"
To competently approach to spending and saving, you must learn to understand the financial and above all that is worth your money. If you feel that you know enough about it, do not rush just to deny himself everything to save his first round sum. Take care of pumping your financial intelligence. There are a large number of online manuals, books, movies, and even podcasts that will help you quickly and easily add awareness to your daily life, and thus also to have fun. In other words, to become a real guru of savings, you need to literally fall in love with finance, and skill to distribute their profits will be much easier.