10 Financial Rules for Life in Your 20's

How much more fun would life in your 20's be if you had more money for your goals - both now and future ones? Family Investment Center shares 10 money tips that give new insight into how to plan for the "now," as well as plan the life you want to live 30 years from now. Discover more about professional investment services that really are different by visiting http://www.familyinvestmentcenter.com today. 1. Set Short and Long-Term Goals Most people have an idea of where they would like to be in 20 years. These dreams are your long-term goals. Without a documentation of your long-term goals, you can lose sight of where you want to be when caught in the early and challenging stages of life. Short-term goals also provide focus for the here and now. They give you as sense of success as you reach each milestone on the path to your long-term goals and financial freedom. 2. Take Charge of Your Own Finances You need to be responsible of your own finances. When you know where and how much of your money is spent, you are more aware of the expenses that drain your paycheck. With you in charge of your finances, you can determine small adjustments to your spending that result in great savings. 3. Establish a Budget A budget also facilitates awareness of expenses and related adjustments. An established budget helps you save for each expense, so unexpected expenses are extremely rare. Wise budgeting will relieve the stress associated with living from paycheck to paycheck. 4. Build Good Credit Be conscious of the credit you establish. Diligence in managing credit helps you stick to your budget while building the trustworthy reputation you need for larger purchases, such as a home. 5. Create an Emergency Fund An emergency fund prepares you for unexpected expenses. Without an emergency fund, these expenses drain other savings and create stress. By setting aside a small sum from each paycheck, an emergency won't prevent you from having fun and living with freedom. 6. Protect Yourself with Insurance Insurance is another way to prevent unexpected expenses. Protect your long-term goals by providing for today's health and other needs with insurance. 7. Make a Debt Repayment Plan Debt leaves little room in your budget for extra savings and extra fun. A debt repayment plan slowly eliminates each debt, thus creating more income to save or use to eliminate other debts. 8. Invest Starting now is critical to your future. Even the smallest investment can grow if it is handled wisely. 9. Save for Retirement Starting now = freedom later. The sooner you begin saving for retirement, the easier the task will be and the sooner you can enjoy the benefits of your hard work. 10. Communicate with Your Partner about Money Consistent communication ensures you and your partner are both adhering to your budget and working toward the same financial goals. When you have money, you have freedom. When you have freedom, you have fun. Family Investment Center's investment advisors can start you on your journey toward fun today.

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