5 ways to take control of your finances in your 20s

For many, your twenties are the years in which your finances are the most stretched. You’re probably trying to save for a house, a new car or a trip, as well as trying to keep up appearances at all the social events. But it’s also the time in your life when you should be setting yourself up to be financially secure for years to come.

So how do you balance it all and learn to take control of your finances?

We asked Bessie Hassan, money expert at finder.com.au for her 5 tips on how to get yourself on the road to financial freedom.
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Get started on your #finfreedom with our Investing 101 guide

Investing is one of the best things you can do for your money, but taking the plunge can be a daunting one, especially if you’re new. That’s why we created a beginner’s guide – to help you along, step-by-step, to become a savvy investor equipped with the basics to make an informed decision about how investing can help you reach your financial goals.

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4 things you need to do before you start investing

A research report from RMIT on women and money in Australia found that 48% of women were not willing to take any financial risks at all. For many women, their hard earned savings is not something they are prepared to risk.

A common perception of your typical investor is what we see in mainstream media from movies like The Wolf of Wall Street. What we aren’t shown is that there are several ways to invest and many of them don’t involve speculating on hot stocks.

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5 ways to avoid debt in your 20s

Hands opening up an empty wallet

 

Ah, your sweet 20s. It’s absolutely guaranteed that you will have one sack full of adventures and another full of mistakes.

But that doesn’t mean you don’t need to think about what financial shape you’ll be in once you do say hello to that inevitable 30th birthday. Because it’s about then that you may be wondering about buying a house, starting a family, and perhaps even planning for the future with healthy personal finance habits in the bank.

Saving in your 20s is hard, and racking up a mountain of debt is easy. But don’t fret – it’s never too late to start blasting that 20-something debt and setting off on the road to a bright financial future.
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Time is your biggest advantage

Relaxed Millennial

Millennials are under pressure and in a hurry. They face quite a few pressing issues in this meteorically fast-moving 21st century. The cost of living is high, job security is low, and it’s a fact that they are more stressed than the other living generations.

So what could be the antidote for these young Millennials and professionals who are looking into an uncertain future in this volatile world?

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How to invest for the first time

invest first time

Investing is one of the best things you can do for your money, but taking the plunge into the world of investments can be a daunting one, especially if you don’t know much about it.

The first step to investing well is doing the research, which means you’re basically halfway there. Almost. There’s still a bit to know before you buy your first share. Luckily for you, one of the greatest advantages young investors have is time.

Here’s how to invest for the first time.

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Why investing a set amount every month is ideal

invest same amount

Let’s face it, being disciplined is hard work. Whether you’re sticking to a diet by avoiding donuts, committed to finishing those house renovations before your parents arrive to stay for a month (what were you thinking?!), or reaching your financial goals…building a routine ain’t easy. That’s why every once in a while, we all need a proverbial kick in the pants to keep us motivated.

Investing is no different and one way to stay on track to reach your financial goals is to invest a set amount into your Clover account every month. Need some convincing? Here are five reasons why we think you should set a monthly investment goal —and stick to it.

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