KAFE This Morning

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Financial tips for people under 30

Here are three financial tips for millennials, according to experts:

TAKE ADVANTAGE OF YOUR AGE:  You’re young…and it’s one of your biggest financial assets. Make as much money as you can, and save as much of it as you can! Watch it grow over the new few decades.

DIVERSIFY: You know the saying ‘don’t put all your eggs in one basket?’  It’s especially true for where you put your money. Examples of different assets are permanent life insurance, rental properties, emergency funds, cash holding accounts, primary property and non-retirement investments.

MAKE A FINANCIAL PLAN: Work on your financial plan. Set goals. What is important to you? Is it having a family or owning property – or both? Track your cash flow with apps to see what comes in every month and what goes out. That will provide financial clarity.


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