Tag Archives: young adults

Why Young Adults Need to Use Credit Cards

Why Young Adults Need to Use Credit Cards

Unfortunately, financial advisers have related mixed opinions when it comes to using credit cards. I say unfortunately, because there is nothing to dislike. I got my first credit card when I was 18 and have been using it since then. Not only has it earned me thousands of dollars in rewards since then, but it has added other benefits as well. Despite what people may think, using credit cards is an important action for any young adult to take. Here’s a list of reasons why you NEED TO START USING A CREDIT CARD if you are not already using one. Continue Reading

Young Adult Retirement Planning – Benefits of Saving a Lot Early

Young Adult Retirement Planning – Benefits of Saving a Lot Early

Retirement planning isn’t just for old people – or even middle aged people. People in their 20s and more generally, young adults, can start saving for retirement too. In fact, young adults can make a larger impact on their retirement income than anyone else can – and that’s because they have one major advantage that older people don’t have: time. By having more time for your investments to increase and earn more interest, young adults can either make or break their retirement plans based on whether they save or don’t save. Continue Reading

Most Important Thing for Young Adults to Learn

Most Important Thing for Young Adults to Learn

When my wife and I were at Costco, I saw a generator and started to lose track of some of the financial principles that I strive to live by. I started to think about how nice it would be to have a generator that could run our refrigerator for a couple hours each day, how we could charge our electronics, among other things. The common theme running through my mind?

I “need” to buy this. Continue Reading

Is Gen Y Really That Bad Off?

Is Gen Y Really That Bad Off?

I don’t want this post to come off sounding that I think being a recent college graduate and finding a job is a piece of cake. I am simply questioning everything I am reading so that hopefully we can have a discussion. With that said, I think the media is overblowing this entire crisis. Yes, there are many recent college grads and young adults that aren’t working, aren’t working in the field they want, or are in a low paying retail type job. But here are some facts. Continue Reading

Young Adults and Money: Why It’s Crucial to Get Ahead

Young Adults and Money: Why It’s Crucial to Get Ahead

In many ways, the common expectations of young adults often influences or dictates their behavior. In other words, because they are not expected to be financially stable, they aren’t. They milk each and every opportunity for what it’s worth. However, there couldn’t be a time that affects one’s entire life more than the early adult years. Whether you want to accept it or not, the years of young adulthood influence your finances and you should take advantage of it. Continue Reading

Young Adults Need Life Insurance Too

Young Adults Need Life Insurance Too

Young adults have their advantages and disadvantages. We’ve talked about this before. We all know this. What we lack in experience, we make up for in ambition, good health and a future full of possibilities. Of course, these are all generalizations. Not every young adult lacks experience, just like not everyone has good health. Not everyone has a future of possibilities. This is what we all must account for: the improbably chance that we may get hit by a bus or not wake up tomorrow. No one likes to talk about this because it makes us feel uncomfortable. But it’s time we start changing that. Continue Reading

Financial Advantages of Being Young

Financial Advantages of Being Young

The past few weeks have been absolutely crazy. Between the new job and adjusting to being busier, I have had my hands full. Yet, it doesn’t stop me from thinking about the unique situation that young adults find themselves in financially. While I have already written about the challenges that come with being a young adult, I’ve recently been thinking about the advantages of being young. Despite my ongoing desire to be more of a “grown-up” (a symptom of being the youngest of three boys), I have realized that being young isn’t always a bad thing. In fact, it has many advantages. Yes, you read that right – being young has its advantages. Continue Reading

Young Adults and Consumerism

Young Adults and Consumerism

While it may not surprise you, one of the many financial challenges that young adults face is the desire for stuff. It’s also known as consumerism, which accurately describes this addiction because it describes the existence of young adults. They live to consume. Many young adults either buy things that they want regardless of the financial consequences or at the very least (like myself) have a wish list of things they want to buy when they have money. If we are honest with ourselves, we all like to have nice things – it’s just a matter of controlling our urges. Continue Reading

Financial Challenges that Young Adults Face

Financial Challenges that Young Adults Face

Sometimes the best financial advice is that which we have already heard. Recently, I have been focusing on the challenges that young adults face. It has provided a great focus for the site and helped me be attentive to new challenges in my every day experience. Regardless of whether it is insurance, debt settlement, investing, the simple fact is that young adults face many financial challenges. It’s never easy to face these challenges without the experience. While I can’t solve all of these within one post, I thought it would be helpful to provide a list of some of the common financial challenges the young adults face. Continue Reading