The 5 Best Financial Tips for Under 35’s  

Financial Planning


Unfortunately, money management is generally not taught at school. Many young adults are being thrown into the deep end with regards to finance, not knowing any tips and tricks for handling their wealth. We’ve put together some of the key points to ensure a safe financial future.

  1. Be clever with your credit

You can effortlessly buy something as soon as you want it with credit, but it is better to wait until you’ve saved up the money. Outstanding credit can rapidly rack up a mountain of interest charges, so make sure to stay away or pay your balance in full when the bill arrives.

Simply not using your credit card at all, however, can have a negative impact later in life. If there is no evidence of you ever using credit, your credit score cannot be built up. This will come in handy later in life when you need to take out a loan. Simply use your available credit for minor expenses, and make sure to pay off the bills on time to build up your score.

  1. Value yourself

When coming across new-found wealth, a lot of people struggle to retain it and don’t take the steps to secure their finances. Try to understand the value of the money you are spending, and plan how it should be used.

In addition to this, make it a habit to calculate your net-worth every so often. Although the obvious aim is to increase this value, it can be difficult with things such as student loans. Focus on reducing debts and increasing assets.

  1. Stash money aside for emergencies

Knowing that you are safe financially will ensure that you can sleep well at night. Prepare for the unknown by stashing money into an accessible emergency fund. By starting up a savings account, you’ll have a financial safety net as well as accumulate wealth if you don’t need to dip into it.

  1. Learn about investing or hire help

Having your hard-earnt cash sitting around gaining no interest is not ideal. Ensure that it is working hard for you by utilising savings structures or investments. This can seem daunting at first, so it can be useful to have an advisor run you through your options.

 Create a budget

Ensuring that your expenses aren’t exceeding your income is a necessity, but go beyond this and really rein in your finances. By working out the sources of your outgoings, it is much easier to cut down on unnecessary expenditure. Try using this/our handy budget planner from the following link to get started:

Remember to use your take-home pay after taxes.