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Are you making the right money moves for your age? If you want to be ahead of your financial game then here are five smart money moves you should be making in your 20’s. 


#1 Learn to set goals 

Goals are critical to financial success and learning how to set smart goals in life is one of the smart money moves you can do in your 20’s. Craft a comprehensive guide on how your finances will be in the next days, months or years to come. 

If you find setting goals hard then you might want to begin by asking the following questions: 👉How do you want your finances to be at the end of 2021?  

👉What are your financial plans for the rest of the year? 

👉Where do you see yourself 3-5 years from now? 


#2 Keep an effective budget 

Keeping an effective budget is so important, especially in your 20s. It works as an itemized overview of your income and expenses done for a certain period of time. This is done mostly every end of the month but can either be weekly, quarterly and/or yearly too. 

A budget keeps track of your spending patterns, records your income and determines whether you are spending more than you should be. 


#3 Start saving money 

No matter how much you earn from your job or your side hustles, what would matter most in the end is the amount you can save. 

Start saving money from day one. This is the ultimate money move ever! If you save today, even for as low as Php 500 each payday, you can build a stronger financial foundation for the future. 


#4 Stay debt-free 

 Another important and smart money move in your financial life is to stay debt-free. Do not attempt to get a credit card if you are not 100% ready and prepared for it. 

 Stay frugal and try to live below your means at all costs. There are plenty of ways you can do this such as packing your own lunch to work, saying no to after-work dinners and gimmicks as well as limiting your unnecessary spending. It is better to be frugal now so you can pay your debt fast. With the current situation we are in now, the new version would be: lessen your food delivery orders and enjoy a delicious home-cooked meal instead. Right? 


#5 Invest now! 

Why choose to invest in your 20s? 


 Because time is on your side. 

 A regular savings account or a piggy bank will not get you closer to your financial bucket list. You need to invest your money too, and make it work. 

 One way to easily do this is through mutual funds. In a mutual fund investment, money from various investors are pooled together to make up “baskets” of cash, bonds, or a combination of all. An expert fund manager will handle the buying and selling of securities. 

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