How To Be Financially Stable In Your Twenties And Early Thirties
I have been working in the finance industry for a while. I started in retail banking, working primarily with individual personal accounts and corporate accounts, then I transitioned into corporate finance on the analysis side. I have learned a lot in the process and here are two things I can guarantee: All companies have a... Continue Reading →
When explaining to people, especially millennials, that it will take discipline in their finances to achieve stability, some of them tend to cringe. The truth is just like it takes effort, discipline in consistency in any other worthwhile endeavor, being secure financially doesn’t happen by accident. In the past couple articles, we looked at investing,... Continue Reading →
Whether we practice it not, we all know that when it comes to money, it’s best to have a savings fund for a rainy day. Rainy days and surprises do not alert us and when we are not ready, the repercussions can be devastating. When the unexpected happens, having enough resources can come in handy.... Continue Reading →
If you’ve been following moneysmartmillennials.com for a while or you’ve read Money-Smart Millennials: How to Be Financially Stable in Your Twenties and Early Thirties, you’ve realized that I am a huge proponent of entrepreneurship. It is in my opinion, one of the surest ways to be in control of your finances. Yes, it takes hard... Continue Reading →
Millennials are not the first to complain about the cost of living. But, it would be unfair to reject their claim without consideration. Ultimately, as time goes by, everything is getting more expensive. Life for Millennials is a little less affordable than it was for their parents at the same age. For means of comparison,... Continue Reading →
In our lifetime, making mistakes is unavoidable. Although the consequences of our mistakes can be hurtful, there are opportunities to grow and improve. As John Maxwell says, evaluated failures are sources of wisdom. However, it’s not always obvious when you’re making the right decision or when you are making a faux pas, especially if you... Continue Reading →
When it comes to finances, being stress free doesn’t happen by accident. It takes intentional work. One of the best approaches you can take is to try to improve the way in which you approach all things financial, if you are not currently satisfied. Think about any relationship, especially a romantic one. It gets better... Continue Reading →
I was having a conversation with an acquaintance recently and they had given up hope that they could ever be in a better financial position. In fact, this person said that they would be broke for the remaining of their life. I was taken aback by those words; why would someone so young believe that... Continue Reading →
My goal through Money-Smart Millennials is to make you an expert at managing your money . This includes budgeting, managing your income and expenses, being more aware of your cash flow and organizing your debt to pay it off. Other components of money management are investments and savings. You need to think about interest, and... Continue Reading →
Independence and autonomy are a crucial part of younger millennials’ lives, and the critical tool that they need to achieve this is usually their own car. However, when you are still in your late teens and even early twenties for some, vehicles are a costly expense and can be a massive drain on the finances... Continue Reading →
When you have achieved a certain level of financial stability or a relatively high income, it is possible to manage your finances without a set budget, and to live relatively well as long as you are responsible with spending. But just like anything, putting in more effort to achieve the best results is always worth... Continue Reading →
Purchasing your first home is a life-changing decision for many reasons, including the financial impact it may have on your day to day life and of course, the change of environment. When the time comes to move out of the apartment, to ditch the roommates or to leave mom and dad’s home, you may be... Continue Reading →
I have observe that besides speaking to a financial advisor or planner, a banker and maybe parents, most people never have educative conversation about money. Unfortunately, many basic concepts are left unknown and unpracticed, consequently leading to financial instability. Money is an important part of all our lives. As such, it is important to get... Continue Reading →
If you live in North America and particularly in the US, you know what a credit score is. It is that number determined by a set of institution that indicates your credit worthiness. Whether it is a good or a bad one, that a number on a computer determines your financial eligibility to borrow. For... Continue Reading →
Attaining true financial stability is something everybody should aim for in order to achieve long term peace of mind and security in regards to money. However, most people don’t even consider that this could be possible for them, much less try to achieve it. They have fallen into the pattern of going to work, swapping... Continue Reading →
Buying your first home is and should be an exciting time of your life. The saving up and the research into what kind of property you want is finally about to pay off now that you’re ready to make the purchase. The excitement is uncontainable but it is still a very important financial move in... Continue Reading →
The dictionary describes ‘bargain’ as a thing or service bought or offered for sale at a cheaper price than it usually is. Even, without the dictionary explanation, we all know what bargains are and when it comes to purchases, it is the first thought that comes to mind to most people. In fact, the majority... Continue Reading →
Millennials in general are viewed as people in their late teens through mid twenties. However, let’s remember that the term millennial does not refer to an age range but rather a generation. Given that most millennials are now in their twenties or thirties, they’re living independently - or trying - and trying to find their... Continue Reading →
When something goes wrong in your personal finances, it can be a stressful time and it’s not always clear what you should do about it. At times, there’s no obvious answer to many of these situations, but there are certain methods for coping and digging yourself out of a financial hole that you should be... Continue Reading →
When it comes to financial decisions, we all at some point make mistakes during our teens and early twenties. In a way, it’s all part of growing up. Many would also argue it’s better to make those faux pas when you’re young than to stray off course later. The same can rarely be said for... Continue Reading →
Money-Smart Millennials 