Disclaimer: The following is a sponsored post by Lexington Law. All opinions are 100% my own.
Your 20’s can be an overwhelming and confusing time.
You may just be getting out of college, getting your own place, and starting your career.
However, a big important step people forget to take is understanding their finances and how to control them.
Luckily, tons of tips will help you not only understand money but save it as well.
Here are ten money tips you need to be taking advantage of in your 20’s and beyond!
1. Raise your credit score
Your credit score is a fundamental tool that is used to check your credibility and creditworthiness.
Lenders, landlords, potential employers, and others may look at your credit score to figure out more about you.
A low credit score can even deny you a potential job or loan that you need.
Lexington Law has helped hundreds of thousands of clients remove inaccurate and unverifiable items from credit reports such as late payments, collections, charge-offs, and more.
If you need assistance with filing disputes or challenging specific items on your credit report, learn more about Lexington Law here and start getting the help you need today.
2. Buy secondhand
Secondhand shopping not only helps the environment, but it helps you save money as well.
Thrift shops can be a hit or miss, which is why I go on thredUP, an online thrift store.
I can search through categories and even type in what I’m exactly looking for.
Plus, the items are discounted to a crazy low amount.
3. Take advantage of money-saving apps
We are so lucky to be living in a time where we have money-saving apps that can make saving easier.
Some of my favorite money-saving apps are:
4. Learn how to effectively use credit cards
Credit cards can be what you make of it.
For many people, they opt out of using them solely because they believe they can’t handle them without overspending (I get it!).
For others, they don’t use credit cards because they don’t see the value in them and rather pay with a debit card or cash.
Credit cards are amazing, and for two major reasons, they help you build your credit, and they give rewards!
It’s easy to overspend with credit cards, so make sure you create a budget, which is where we are off to next at #5.
5. Create a working budget
A budget makes a huge difference in the way you spend and save. A budget ensures that you give each dollar you make a job.
YNAB (You Need A Budget) makes it easy to create a solid budget that will get you paying off your debt. They even have a free year trial for students currently enrolled in college. You can even create and customize budget spending categories.
6. Learn how to cook
Learning how to cook not only makes it easier to eat healthily, but you save money too.
There are tons of free recipes available online (Pinterest is my go-to!).
I recommend starting with recipes with minimal ingredients as you don’t get overwhelmed with making a recipe with 20+ ingredients.
To save money, use Ibotta which is a free & user-friendly app that gives you cash back on your purchases. These purchases can be on groceries, clothes, toiletries, online shopping, and a lot more. You even get $10 in your account when signing up through my link here!
7. Auto transfer money to your savings
This is such a simple tip that is often overlooked.
Auto-transferring money into your savings allows you to save money without even thinking about it.
There are apps out there that do this, but they charge, however, did you know your bank most likely does this for free?
To start off, auto transfer $50 every 2 weeks into your savings account.
8. Get health insurance
When we’re young, we feel invincible.
The last thing we’re thinking about is spending money on the insurance that we may not need.
However, taking that chance that something may or may not happen to you is a huge risk.
If something were to happen to you and you didn’t have insurance, you could be seeing health bills come in for the rest of your life.
Since I work from home, I have to get my health insurance. I’m currently with Liberty HealthShare and have loved it so far. I recently had a health scare, and my bill was under a few hundred dollars for three different doctors visits, and the customer support team helped answer my many questions.
9. Learn how to effectively use coupons
I don’t use coupons and rarely use the paper kind, but I do use online cashback websites.
Ebates is my go-to for shopping online.
All you have to do is log on to Ebates, find the store you want to shop at, and you’ll make cashback from your purchases.
The amount of cash back you get depends on which store you’re shopping at (they’ll list what the current % cash back is) and your total purchase amount.
Create an Ebates account here. Make an online purchase of $25 and get $10 as a welcome bonus! So easy.
Ebates even has a free browser extension that automatically applies the best coupons to your purchases and activates cash back. There are so many times I forget to use Ebates when I’m online shopping – so the Ebates button reminds me every time I go online shopping. It’s a must.
10. Keep up with exercise
Exercise not only helps prolong life, but it makes your quality of life even better.
Figuring out an exercise that you enjoy is important. Otherwise, you most likely won’t stick to working out regularly.
Try out different physical activities – even the ones you’d never think you’d like. Road cycling, mountain biking, climbing, and hiking are some of my favorites.
Are you taking advantage of these money tips?
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