8 Excellent Money Moves In Your Twenties

Let’s avoid them by starting to take action on the most important money aspects. By starting on these today you are going to be giving yourself a huge money lift.

Start doing all of these and you will set yourself up nicely for the rest of your life.

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Start Monitoring Your Credit

This is critical part to your financial thriving.

A bad credit score will wreak havoc all over your life. Bad credit means higher interest rates on your debt. They can also lead to higher premiums on things like your insurance and getting a job (yes some employers look into this).

Here’s the scary part 1 in 5 people have a potential material error on their credit report and it is costing them.

The best thing you can do is sign up for free credit monitoring with Credit Sesame and find out your credit score and start taking steps towards improving it.

Future you will thank you!

Pay Off Your Loans

Debt is pretty much a normal thing when you are in your twenties, but if you aren’t careful you can let it balloon on you and it can negatively affect the rest of your life.

When it comes to your debt high interest rats an choke out any hope of quickly paying off your debt. That just won’t do. You can look into refinancing your debt so that you can get a lower interest rate and pay off your debt quickly.

Check out Sofi calculators and get your free quote to see if how much you can be saving.

Start a Side Hustle That’s Completely Yours

There are fewer things more rewarding than having a side hustle that you love to do. Not only is it rewarding financially, it’s also incredibly gratifying to get paid to do something that you enjoy.

For me, the latest thing is blogging, I’ve been doing it for just over two years and have grown this $3.95 investment into a four figure a month blog. It’s amazing.

Plus it has opened up so many other avenues. From consulting gigs, to writing jobs, and countless media interviews, it’s all because of the site you are on right now. Best of all I’m the boss of this site. If I want to put a giant GIF of an elephant dancing and wearing a hat I can do that.

(FYI I tried to find an elephant dancing in a hat GIF for this and couldn’t find one)

If you are interested in starting a blog and seeing where it can take you sign up below for our 5 Day Mini Course on How to get started making your own site.

Or if you are ready to dive in you can check out this post here on how to start a blog quickly.

Make Money Whenever You Can

When you are in your twenties it might feel like there aren’t a lot of ways to make money, but there are! I made money whenever I could. With the internet and the gig economy there are so many ways to make more money that you should

Here are a few to get you started.

Uber Eats – Here’s what you need to know about becoming an Uber Eats driver

Rent out your stuff with Fat Lama – This guy does it and it pays for his rent.

Uber Driver – Here’s what you need to know about getting started 

Rent out a room with Airbnb – Here’s everything you should know before you rent out your place with Airbnb

Cut Your Car Insurance

You have 3 big areas of spending. They are living, food and transportation. Car insurance can be that thing that we don’t think about until it’s up for renewal but there  is a new way you can save money on  car insurance. It’s called pay per mile.

It’s exactly how it sounds. Instead of paying your normal monthly rate, you pay a base rate and for every mile you drive. It’s perfect for people who aren’t big drivers.

Find out more about Metromile here

Or if pay per mile isn’t for you, click here to get your free quote with E-surance here and see how much could be saving.

Start Saving Money When You Shop Online

Fun fact: You will earn over a MILLION DOLLARS in your lifetime.

What if you could keep an extra 1% of that effortlessly? That’s $10,000/

What about 2% that’s an extra $20,000 that is being kept in your hands.

That’s why every cent is so important.

When you look at 2 pennies you think: “Nah not a big deal“.

But if you were saving 2% on every dollar you spend and it was done automatically then you would be foolish to pass it up.

That’s why using a site like Ebates and Swagbucks is so important.

Swagbucks not only gives you cash back for shopping online, but they also pay you for your other online activities like watching video, surveys and tons of other things. Plus you get a $5 sign up bonus to start with Swagbucks

Starting Getting Cash Back With These Apps

We’re all busy, but that doesn’t give us the excuse to not save money whenever we can. The best way to save money is by signing up for free services that give you cash back on things you are buying.

Some of the best apps for saving money are:

Ibotta – Gives you cash back on your groceries 

Paribus – Saves you money on past purchases by applying for rebates and refunds on your behalf. Also makes requests for late shipping.

Trim  – Looks for ways to save you on recurring memberships and can renegotiate your monthly internet bill

Start Investing

When you are starting out, learning to invest can be a really challenging hurdle,

But it doesn’t have to be that way. Times have changed. With the rise of robo-advisors (investing that is automated and based on portfolio theory) you can start investing with as little as $50 a month.

I personally use and recommend Wealthsimple. Wealthsimple will build you a portfolio based on your investing preferences in under 5 minutes (it’s all in their quick questionnaire).

By starting to invest today you will be taking the first steps towards your retirement or whatever else you are saving up for.  They are easy to get started and you can get a $50 bonus for signing up when you use this link.

Related: Is your family protected in an emergency? Click to find out How to Make an Emergency Binder

Taking Control Of Your Finances Doesn’t Have to be Hard.

Taking these few steps in your twenties towards your financial success will help you go a long way in your thirties and beyond. These small steps that you take today can have a huge impact down the road. Get started and know that you are taking control of your financial future years before most other people do!

Here’s to your success!