8 Things Women In Their 20s Should Do To Achieve Financial Success

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Navigating your 20s can be a bit…insane. From signing your first lease to renting a car for the first time, all the legal jargon and financial scenarios can sweep you up in one big ball of confusion. Though we can’t say it’ll be easy, you’ll make it through this decade just fine as long as you know how to keep yourself financially afloat. Here are eight things you should do to set yourself up for financial success.

1. Listen to your gut.

Libby Ryan

If you’re feeling pressured to go to a $50 brunch, but you’ve overspent already this month, listen to your gut and decide if you should really go. You’ll know when a situation isn’t right by the tight feeling in your stomach, so tune in and let it make some of the decisions for you.

2. Maintain your savings before helping others.

You know how flight attendants remind you that in the case oxygen masks are needed, put yours on before helping others? The same rule applies to helping others financially. If you’re struggling to your pay rent, don’t lend your friend $300. It’s a no-brainer when you think about yourself first.

3. Plan for your future.

Getting that paycheck may seem really exciting, but it can be all too easy to indulge in the moment instead of planning for your future 40 years from now. You know that retirement is a thing eventually, so start thinking about how you’re going to make it happen for yourself down the road. Set aside around 20 percent of your income each month. That way, you won’t be totally screwed when you’re 58 and realize you haven’t saved a dollar.

4. Be critical about credit cards.

If you use them correctly, credit cards can be an incredible resource and give you some seriously good perks (hello, travel miles!). Before applying for a bunch, know what you’re getting into and make sure each card you have fits your needs and lifestyle.

5. Know your (financial) vocab.

Jumping into the personal finance realm can be really intimidating when words like “amortization” and “preferred stock” are thrown around. Read up on personal finance and investing language before you do anything major with your money. It’s all about learning the basics and laying a solid foundation.

6. Seek help when you need it.

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Sometimes, money can be really confusing and annoying. If your budget is out of control or you want to learn how to invest, explore free apps that can help you. Unless you happen to have a money-savvy friend or family member who can show you the ropes on all things personal finance, don’t feel bad about leaning on smart tools.

7. Focus on experiences over material things.

While we don’t blame you for the occasional shoe splurge, we will say that spending your money on experiences, like a trip to Spain, could make you happier than spending that cash on material items. Hey, there’s gotta be a reason why more millennials are investing in seeing new places, right?

8. Live a little.

You could follow all the money rules in the world and save a bundle, but will that make you happy? Sometimes, spending that extra $5 on an ice cream sundae really is worth it. You should never feel ashamed to treat yourself now and then, and in fact, we argue that it keeps us sane in this chaotic world. As long as you’re responsible with your money in the larger scheme of things, you deserve to treat yourself.