Being in your 20s and getting out on your own will probably be the most challenging financial time in your life. You suddenly have to pay for rent, a car, tuition, insurance, and utilities, all while having no work experience and starting from the bottom. So, how do you go about spending your limited income? What are the best financial decisions you can make? What can you do now that will help you for the rest of your life? Check out this article by Mike Ouyang at the Lending Tree Blog for the best things that 20-somethings can buy:
-A college degree, or trade school education- those with a college degree are more likely to be employed than those with just a high school diploma, and have statistically higher paying jobs.
-Books- read anything and everything that catches your interest, it helps your cognitive skills, communication, and keeps you up to date with the world around you
-Stock and portfolio investments- diversify your options to minimize your risks
-Retirement accounts
-A gym membership
-Paying off debt as fast as you can- get that credit score up, free up your finances so you can put them in other investments, like a savings, investment, or retirement account.