Our Top 3 Financial Tips for Generation Y

May 10, 2013

Today I will be talking about Top 3 Financial Tips for Generation Y. Gen Yers are often being perceived as an unmotivated and entitled. It may have something to do with incredible amount of things that they want to have. They have grown up in a fast pace environment in front of the computers seeing the evolution of cell phones and most people plying for the latest use of the gadgets.

But in order to know something is entitled if you are a genyer then you need to crack down to a budget, get out of debt and learn how to save.

The first thing is to get out of the credit card debt. Save up for what you want before you buy it. The next thing to do is to pay back those student loans.

Genyers have taken up to a trillion dollars of student loan and it is time to start paying them back. Start paying them little above your minimum underpayment this month. If you are going to get back and save for your retirement, you got to get rid of any short term loans.

Thirdly remember what’s important, the world is full of distractions and things won’t make you happy. All the money in the world can’t buy peace of mind. So take a moment of stop and smell the roses. Turn the phone off from time to time and unplug. Remember it’s okay to make financial mistakes so long as we learn from them.

If you live in  the UK , see what the most common types of household units are and what they like to spend their money on.  Learn more about the basics by checking out our infographic.

This infographic is provided by QuickQuid is one of UK’s premier short-term cash lender.

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