Everyone must have dreams, everyone has hope at their age. Especially for young people, of course they have many dreams that they want to be realized at a certain time. One of the things you might want at the age of 20 years to 30 years is a financial achievement. Some people may want to live a normal life, but you have to be someone who has dreams or desires especially in the financial field so that your life is guaranteed and happy. Here are the financial milestones to achieve in your 20s and 30s. Anything? Check out the review below!
Open a checking account
When we move at the age of 20 and 30, we have to think more than we did before. Our age is ripe and already fairly mature, there are many things we have to think about, one of which is about our finances. At this fairly mature age, you have to have a plan for your finance, at least you have to have dreams and targets in the financial because your life definitely needs money. One of the things you must have when you are 20 to 30 years is can open your own personal checking account. We hope that opening a checking account is one of the things you do during the early years of your lecture.
Maybe many people think that opening a checking account is normal because everyone can do it. It’s true that everyone can do it, but it’s important to be financial milestones in the 20s and 30s. If you already have a checking account it is a good and extraordinary thing, but if you don’t have it then this has become your priority. It may sound simple and ordinary, but by learning and opening a checking account it will make you more independent and will help you in learning to manage your accounts and personal finances. If you already have a personal account and are able to manage it then other financial successes will also follow. So if you start wanting to learn personal finance, and maybe at the age of 20s or 30s don’t have a personal checking account then try to start making it because it can make you more responsible for your personal finances.
Start preparing emergency funds reguralarly
There are so many desires that you might want to achieve at this young age. In addition to opening a checking account, another thing you have to do or achieve at the age of 20s and 30s is to start preparing emergency funds regularly because the emergency funds are very important for our future. The milestone that we have to get at this mature age is to start self-financing regularly, to be able to get emergency funds or funds to be able to finance themselves is to save money. By saving a reserve fund it will help you to deal with various emergency problems that you might experience. , Maybe many people think that living a normal and sufficient life is enough, even though you have to prepare an emergency fund.
Having an emergency fund will be useful for you in the future. For example, when you suddenly get sick, or there may be a sudden need that you have to fulfill, if you have an emergency fund then you can use it if you need or urgent things that must be financed immediately. Therefore if you want your financial life to be good at your productive age, save some of your money for an emergency fund because it is very important and useful for your life. If you want to make it easier to save or save emergency funds, we suggest that you must use various applications that can help you. Now with Microsoft services will help you to make financial planning easier. In addition, you can also use Acorns to collect every purchase you make and will show the difference. Maybe a lot of people think if this doesn’t really matter, but don’t be someone who thinks like that. Make this emergency fund into your financial priorities.
Start thinking about retirement programs
Retirement is a condition where we no longer work because we have entered retirement age. When we retire, of course we can no longer get as much salary as before when you work. If you want to start a comfortable life after retiring, then we suggest that it is better than from the age of 20s and 30s you start thinking about a retirement program, because the sooner you plan for this pension plan the more likely it will be to succeed. Therefore, make your retirement program preparations for things that you have to achieve at the age of 20s and 30s.
What makes us concerned about this is that there are so many people who ignore savings and retire because what they think is that they are young and have enough income. Even if you earn enough you still have to think about how your life will be after you retire. So it’s best to start now to prepare funds for your retirement program, the more you save it in this age, the more funds you will save and you can use in the old days later. If you are still confused about how to plan it, we recommend that you use the services of a financial consultant because it can really help you.
Buy your first house
If at this young age you already have enough income, we recommend that you start using it to buy your first home. Know that buying your first home it can help to determine the pattern of your financial expenses in the future. But are you still hesitant to buy a house at the age of 20 or 30? Do you doubt if your financial ability is still below the standard to be able to buy a house?
To be able to buy a house at a young age, there are several ways you can do it. The first is that you have to save from now on, no doubt the price of houses or land is increasing every year. Therefore you must be very clever to set aside money or salary that you have so you can buy a house according to your wishes. The second step you can do if you want to buy your first home at the age of 20 years or 30 years is to buy it through installments. If you want to immediately have your own home in the near future, but your savings are not enough to buy a house in cash, then we recommend that you do it in installments, because there are many programs that you can use and use for that.
Ages 20 to 30 years are the right time to buy your first home, so make this a priority too. By buying your first home at your age of 20 years to 30 years when you step into retirement you will be calmer because you already have a home before retirement. Retirement will be easier and there is nothing to worry about because you already have a house.
Buy your first car
Another thing that you should make as a concern at the age of 20 years or 30 years in addition to buying your first home is to buy your first car. Apart from knowing how to make money, you have to know how you can spend the money you have because this is another important part of the financial equation that is in your life. As a young and productive age, we recommend that you use the money you make to buy many things that you think are important to your life. In addition to buying a home for your retirement savings, we recommend that you also consider buying your first car. Having a car with your own money must be an achievement at the age of 20 to 30 years.
Another thing you have to think about after incorporating this into your achievements at the age of 20 or 30 years is how you can buy the car you want. Is it possible you will buy a car by paying in cash so that you can avoid debt? Or is it possible that you will pay the down payment first and then pay off the loan as soon as possible? Or maybe you will make a long-term loan to buy the car you want? There are many ways you can choose to buy your dream car, but you have to choose the one that suits your financial capabilities. If you want to be able to own a car without having to have a loan or debt, you can save first.
Pay off your credit card debt
What must be achieved at the age of 20 years and 30 years in addition to some of the things we mentioned above? One of them is paying off your credit card debt. Maybe you already know this fact that there are so many people who live their lives but don’t pay off their credit card debt. They think if a credit card is one of the lifestyles they live. So we recommend that you think that at least you have to pay off credit card fees even if only once. If you yourself can get out of a lifestyle that relies on credit cards and a lifestyle that doesn’t pay off your debt or credit card arrears then you can reach a surprising financial milestone at your young age. So if you often ignore your credit card and never pay your credit card debt then we recommend that from now on you pay it immediately so you can achieve your other wishes.
Make an investment
There are many things you have to achieve at your age that is already 20 years and 30 years old. In addition to doing the things we mentioned above, another thing that you have to do to meet the target at a productive age is to invest. One of the things we can get after making an investment is to get a profit and can be one of the savings in your old age or pastor. Just as important as the retirement plan that we told you before, making this investment is equally important because you can have future profits in the long run.
This investment is actually the same as saving, so if you have more money and want to invest, do it from now on, there are many types of investments that you can choose such as property investment and much more. By following an investment in this productive age, there are so many benefits that you can get, for example, you can get profits, develop wealth, can be sufficient for your future needs, to meet your business needs, and also can help you prepare a pension fund and make extra income for you.
Buy what you want
Saving is very important for you because saving can help us to achieve what we want. If you are already 20 or 30 years old, we recommend that you buy what you want because it can help you to achieve what you want. For example, you have a certain desire to be able to buy a new vehicle or maybe you have a dream to buy a nice apartment or housing that suits you. As long as you already have the money, we recommend that you immediately be able to buy what you want.
Those are some of the milestones that we must reach the age of 20 to 30 years. To achieve everything, there are many ways that we can do, namely by saving and also making safe investments. In addition, the most important thing you have to do is to prepare savings for your retirement. This is one of the things that most people forget most when it is important. Hopefully the article we provide this time can be useful for you all!
