Recently we had a question from one of our viewers and they wanted to know some tips/tricks/and advice that a 20 year old college student can start doing now to plan for their financial future. In this video that is exactly what we are going to do, we are going to give you 3 things you can do to help set yourself up to be in a good place financially when you graduate…Let’s get into it

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DISCLAIMER: THIS VIDEO IS FOR ENTERTAINMENT PURPOSES ONLY. YOU SHOULD ALWAYS CONSULT WITH A PROFESSIONAL FINANCIAL ADVISOR BEFORE MAKING ANY DECISIONS WITH YOUR MONEY

First, the biggest thing you can do to help yourself in college is too budget. I’m not sure what the stat is, but as a recent college graduate, if I had to guess I would say 10 or 15% of students if that use a budget. If you use a budget in college I guarantee you that you will spend far less money throughout your years there than if you didn’t use one. All the money you spend on food, entertainment, clothes and other things really add up fast if you’re not keeping track of your spending. The second thing you can do to help is prioritize paying down any debt you have. If you can graduate college with no debt or very little debt you will be so far ahead of everyone else. Debt is most people’s biggest financial hurdle, so the sooner you can get rid of debt, the better off you’ll be. Third, the more money you can save/invest the better. I know it is tempting to spend a lot of money in college, but if you can just graduate with a few thousand dollars in the bank, you would be in a great place. If I were you, if you have no debt I would open up a Roth IRA account and just start to invest $25 or $50 each month automatically just so you can develop good habits of investing and start to capitalize on the power of compound interest.

Like I said, I recently graduated from college, so to me these are the 3 most important things you can do to help yourself be in a good place financially when you graduate.

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