You might be thinking that you are well aware of your financial life and are ready to go and conquer the world after graduating college and enter real adult every day life. With these very simple financial moves, you are not only investing into your future, but will also eliminate many bad financial habits everybody faces throughout their life.

It is simple, the earlier you start practicing and start nailing these financial moves, the more chances you will have to focus elsewhere than worry about finances.

Let’s jump right in,

1 Start Saving 20% of Your Income

As a student you might not have much money to spend, let alone saving… Well, this is wrong. If you hold any job and bring some money, try to start with “robo-investors” that don’t require you to do anything other than signing up and setting certain amount of money each week, or every month.

Best part about robots-investors is that it is absolutely free. The main purpose for you is to actually START and once you do and are consistent then you have mastered this financial move. If 20% feels like too much at the moment, start out as small as 5%, and increase every 6-months or a year.

Once you actually start putting money aside, you are building a foundation of security for your financial future.

BEST in the industry of robo-investors I talked about is Acorns where you can get free $5 just for signing up and set

Other best investing platforms I talked about that are free to start and simple to use are:

M1 Finance – Free Investing Platform that is Best for Beginners and Great for Experienced. Get started here.

CIT Bank – Start with just $100 and your money will grow, CIT Bank is one of the best investing platforms because of its very low requirement of initial investment of just $100.

Robinhood – Another great robot-investor that will gift you a free stock for signing up.

I also have multiple other posts you might find useful as well you can find in my archives page.

M1 Finance

2 Start Thinking About Retirement

This goes almost hand in hand with the first point I made above but differ in few important ways.

Think about this, you will be working for at least another 25-30 years and the secret to retirement is time. The more time, the more money you will have. I have mentioned this a lot throughout my post and the point is if you start investing $10,000 a year at 25 years at 6.5% year, you will have almost $2 million by the time you are 65. Compare the same thing if you start at 35 with the same 6.5% rate which puts you at around $920,000, where I hope you get the point.

It is simple with this one, but start investing even very little and grow it and trust me, it will pay off.

Read about Compounded Interest: A Magical Penny ($0.01) that Turns Into $10 Million Just 31 Days.

CIT Bank Money Market Account

3 Figure Out Your Spending

This is one of the best techniques and investment into yourself to develop in your life. You need to know exactly what you are spending and earning every month. That includes how much money you have coming in and how much you spend on everything.

The best technique to find out how much you are spending I found is to only pay with your debit or credit card and limit the use of cash. Why? Because nobody wants to write every purchase down. By using the debit or credit card only, you are able to access all the spending digitally at the end of the month which will help you to figure out most important questions: Where & How Much?

If the results you get are negative where you spend more than make then refer to my simple budgeting tips for students. 

If the results are positive, then consider the points I made above and start putting the “money left over” into your savings account.

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4 Stay Healthy and Take Care of Your Health

I get it, being young there’s not much worry about health or even thinking about staying healthy. I mean being young and financially not there, you will most likely find yourself avoiding doctors office. The Health insurance though is not something you should even think cutting on.

In today’s world, almost anything can happen any day and if something were to happen to your health, you will be left with a huge bill and you have to believe me, but medical attention in U.S is very very costly if you don’t have health insurance.

If you are under 26, you can still stay on your parents insurance, but after, you need to make sure to find health insurance either through your employer or finding a plan that fits you and the high-deductible plans will be the best option for you.

5 Set Your Financial Goals

When people say money evil, I completely disagree with that. Today, you can’t do much without money or very limited things that you can do without money.

Setting your financial goals is crucial. You need to set financial goals for yourself and know exactly what you want in your life, either it is buying a house, traveling the world, buying a certain car, helping somebody, or even making somebody proud of you. You need to have a clear goal set for yourself and make it happen I the end.

Goals don’t come without budgeting skills and you will have to figure the budgeting out first before you start focusing on your financial goal.

Start thinking on what you want for your future because working towards something people tend to be more motivated and goal oriented because you are making progress. Make sure to celebrate along the way as well!

Bottom Line

Mastering these financial moves before turning 25 will help you become a much better person from not just financial aspect, but also every other perspective that makes you as a whole because money today is the key to unlocking many things in life.

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