As we know, financial independence doesn’t happen overnight. Debts take a long time to pay off, and investments don’t yield high returns until they’ve had time to mature. Because of this, the earlier you start to take control of your financial situation, the better off you’ll be.
Ages 20-30 are the perfect time to begin thinking about your financial future. The terrors of teen-dom have passed, college is behind you, and you’ve likely secured a job that supports your lifestyle. People at this age typically have fewer demands on their income than when they get older. Younger folks typically have fewer medical bills and are still a ways off from worrying about college tuition for their kids, for example.
Best of all, time is on your side: Contributions made to savings, investments, and retirement funds now will have plenty of time to grow:
Above all, approach each of your financial decisions deliberately and with care. While those in their 20’s and 30’s often struggle with credit card bills and student loan debts, these factors shouldn’t stop you from establishing strong financial habits that will support you all the way to retirement.