Has anyone ever sat down with you and taught you how to handle your finances? If not – join the club. I think I can safely say we all agree they should’ve taught us more on how to manage our money in school and growing up. As millennials, we are at an age where we should be focusing maintaining habits that will helps us in our future as well as saving for retirement. Below are a few tips, which does not include everything, but they will put you in a good starting place.
- Find a low interest credit card
- Credit cards, when in the right hands, are very useful and one of the easiest ways of building credit. They also help you practice money management skills and teach you how to be a wise spender. Find a credit card that will not rack up a lot of interest charges. You should look for factors like a 0% APR period, no annual fee, and free credit score services.
- The little things add up
- Although it might not seem like it at the time, but habits such as not ordering extra queso at Moes, adds up. Small savings do add up. Choosing one streaming account, such as Netflix OR Hulu and not both, will save you a lot. Consistency is key. Find ways to save in the little areas and these habits over time will save you a good amount of money. Sometimes its okay to buy generic brands and to eat leftovers.
- Set a budget
- If you aren’t good at hand-made budgets, try apps such as Savings 2 and My Weekly Budget. These apps keep track of how much you spend and creates a budget based on that amount for the next week while maintaining a goal of saving money. It organizes your finances for you, so you don’t need to be overwhelmed.
- Tithe
- Ten percent of your income belongs to God and it should be given with a cheerful heart. That means if you are dragging your feet to sow- then don’t. If you feel like you must give and it’s a burden, then don’t do it. God doesn’t want your money. He doesn’t need it. He wants for you to want to give and sow into His kingdom. Its your way of saying thank you. You reap what you sow. If you give in honestly and with a willingly heart, then it will be given back to you in a higher measure. It all depends on your attitude when you give. Trusting God with your money means that God is your source and you will lack nothing.