Seven financial tips every 20-something should know to help them thrive: 1. Be tight fisted with your dollars. Dont easily party with your money. Coffee, sodas, smoothies, fast food and vending machine treats can easily add up to $400 a month. 2. Cook. Forget being a master chef like Gordon Ramsey. Just learning to cook a few simple meals every week can save hundreds of dollars in food costs. 3. Choose the right roommate. Sharing space with a roommate saves thousands of dollars a year. Choose a roommate who will pay the rent on time rather than someone who is the life of the party. 4. Switch to Frugal Mode. When times are tough, the tough get frugal. Ride share, bring lunch, take the bus or do whatever it takes to NOT have to use a credit card. 5. Obtain and keep a good credit score. The better your credit score, the better your interest rate on your loans. 6. Keep your overhead low. Would you pay $48 a year to hear commercial free radio? Maybe not but many people waste money on subscriptions they rarely use and never cancel. 7. Sock money away. Set up a dont touch savings account and make it a challenge to withdraw from it. These opinions expressed are those Forbes contributor Nancy Anderson.
Posted on: Thu, 30 Oct 2014 16:01:27 +0000
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