Young Adults Gaining Financial Stability

photography of one us dollar banknotes

Let me start this by saying, I am not 100% financially stable. I have a temporary job and I am a recent grad. However, I have learned how to better manage my finances over the past year.

I will give 6 essential tips on how to be financially stable.



  1. STOP spending money on Thursday, based on what you will get paid on Friday!
    • At this age, we always say, ” Oh I get paid on Friday, so I’ll get it right back.” If you ain’t got it, you ain’t got it! Spending what you don’t have based on what you are going to get is going to be a cycle. You’re basically living beyond your means on a cyclical basis. Drop the credit card!
  2. Cook more, eat out less.
    • Make a strict limit to how many times you will eat out a week. Even something that’s $2 for your lunch break counts. Limiting yourself obviously allows you to save. There are easy, great meals to cook for those who don’t know how to cook very well.
  3. Be smart at the grocery store!
    • Get your snacks last. Notice at grocery stores they always put the snacks first because you get more when there is less in your cart and you get less of the essentials. Go to the meat, deli, and produce section in that order, and plan out meals fromgrocery cart with item there so you can actually spend no more than $200 a month at the grocery store and still have food left.
  4. Emergency Fund
    • The most important thing I learned in managing finances is, save 3 months worth of bills in your emergency fund. If you lose your job today, will you be able to pay rent, phone bill, and utilities next month. Think about that when you eat out outside your means.
  5. Put Yourself First
    1. People, friends, family, and significant others need help, however, they shouldn’t be asking if they know you cannot do it. Put yourself first in financial situations before you help other. If you can, you can. If you can’t then don’t. If they are family, friends and significant others, they SHOULD understand. If they don’t understand…… your relationship not mine.
  6. Create a budget
    • I know you hear this often, but set a detailed budget of your expenses and how much you will allocate to each expense monthly. If you allocate less, put that in savings. If you spend more than you allocated…. Well just don’t spend more than allocation. NEVER skimp on the savings regardless of what you do. If you spend less, put how much you put towards savingsplus some, if more, still put it in savings. Screen Shot 2018-07-02 at 4.38.43 PM
    • Always allocate money towards miscellaneous. Miscellaneous can be general, or specific to going out or whatever is best for you!

Hope I helped!

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.