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Fast Facts About Money for Young Adults



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Suppose you’re new to the working world. In that case, it’s essential to get the facts about how to build a solid credit history, create a realistic monthly budget, spend responsibly, learn how to develop a habit of saving a portion of all income and find discounts on items and services you regularly buy. Review the following points to get on a stable financial path while in college or during your first years of work.

Student Credit Cards

Those who have never had a credit card need to know how to find the right one based on their income, history, and ability to repay monthly charges. Applying for a student card can be the perfect solution for those who want features designed especially for those attending college and managing the budget at the same time.

The wisest way to get started on the selection process is to review an informative guide that explores the top choices of cards for students. It pays to take time to research all the main facts, features, and other components of card offers. Some of the main things to look at are interest rates, late payment penalties, annual fees, borrowing limits, cash advance policies, and whether the cards report to all three credit bureaus.


The secret to staying solvent is budgeting. Unfortunately, too many students and working adults attempt to get by without one.

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While it’s possible to survive for a short while without the guidance of a monthly budget, the smart solution is to make one now and adjust it over the course of several months until it can serve as a reliable way of controlling spending. Use a free online app or download one of the many no-cost templates to get started.

Spending & Saving

Spending is a piece of a larger budget, but the subject deserves special treatment. For most who earn any money at all, spending too much is the single most detrimental habit. One way to get a handle on the outflow of your money is to set reasonable limits based on how much you earn. Consider designating a fixed percentage of each paycheck or a finite amount of money for monthly spending.

As with spending, it helps to use percentages of income as guides. If you earn $2,000 per month, a 5% savings rule would mean putting $100 into savings from each check. Some people prefer to use an amount rather than a percentage. Choose a way that works for you.


One thing young adults and retirees have in common is the ability to get discounts at retail stores, restaurants, and entertainment venues. If you keep your eyes open for advertised bargains, it’s possible to save a substantial amount without changing any activities or daily habits. Check with local eateries you already patronize and ask about student discounts.

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Keep in mind that merchants tend to offer either across-the-board deals for young adults and retirees or designate one day per week when some customers can get 10% or more off of purchases. Other sellers who commonly give special rates to old and young clients include auto repair shops, concert producers, grocery stores, pharmacies, and many more.

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