The following is a guest post by Blair Thomas
The twenties go roaring along before you even realize they have passed and before you know it, you’re about to turn 30. Just like that!!
If you are in your twenties and you want to have some sort of financial security under your belt by the time you are thirty, then you are the one that has to take the bull by the horns and make a plan.
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Figure out what you want to have by your thirties and make a plan to be there. It doesn’t have to be a grand scheme by any means. It can be a savings account for emergencies that you can roll into a CD or a 401(K). But, you need to put away at least ten percent every week. So when your check comes every two weeks, find out what the ten percent is, and put it away. Stay away from it. Don’t spend it and forget that it’s there.
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Remember to find a way to have fun. Your twenties are so fast and so special, it just cannot go without some fun. Even when you do have special weekends and time away, do not touch the ten percent you put away. Remember, it’s invisible.
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Seize opportunities at your job. If they have an investment program, use it. Knowing that you probably do not have the ability to go to the maximum amount, do you best to continue with that. If you have both the savings and the investment going on, you are already on the right path to a nice financial future.
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If some financial freebies come along, make sure you are on the list of candidates. Free from work is a good advantage.
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Make some short term goals. Get information for your savings and see how to optimize your money and help it help you. Be smart and ask questions. The more you learn, the better off you will be down the road. Write down your goals and work hard to accomplish them. Don’t give up if you have some setbacks, that’s how you learn to be better the next time.
Investing, learning, teaching…. All terms that don’t really compute at such a young age. But, without the preaching of the adults who have gone past this time, the next generation won’t learn to do it better. Some went beyond it and didn’t save a bit and now are suffering the consequences.
Others had the hindsight to save and put away money. They had the opportunity to have an investment program and they got their money to grow. As they aged so did the money and it was there when they retired as well as the nest egg they needed. Their rainy day fund grew big enough to do some awesome vacations and have experiences they never expected. They also had enough for any illnesses that they came in contact with.
Life throws a number of things our way. We never know what can happen. Lastly, on the list of things to have, is a Life Insurance Policy. Make certain it takes care of the dreadful things your loved ones will have to pay for. Burial is not something anyone wants, or to deal with. If it is a ‘Whole Life’ insurance policy, it leaves room for loans in case of other things. It throws in other options and helps out where it’s needed.
Finally, with all this, figure out how to live. Life is so short and it goes by so fast. Growing up seemed to take forever, but once you hit adulthood, it soars right along. Take the time to make a plan and get your financial future rolling and then, go have a life and love it!
Blair Thomasis an electronic payment expert and co-founder of eMerchantBroker.com who knows a thing or two about, high risk merchant accounts, merchant funding, merchant accounts for drop shipping and all things finance and planning. But when he’s not running his business he’s more than likely exploring his other passions; traveling, music, mountain biking and camping. If you would like to see what he’s up to, check him out on Facebook.