5 FINANCIAL MOVES TO MAKE BEFORE YOU�RE 30

If you�re just now out of college or starting your very first �real� job and you�re in your 20�s, you�ll soon find out what it�s really like to have that sort of independence. There are no more finals to study for, no more classes to take and fewer people telling you what to do and when. But you�ll get very little advice on what you need to do to secure your financial future and become stress-free as it relates to money. Here are five things you can do to get into a healthy money routine.

It�s a New World. While you have had the ability to choose when and where to go out for dinner and when to see a movie, now you�ll be needing your nightly sleep and having a brand new routine. You�ll soon see that going out for a pizza or a movie every other night is simply too tiring. Make sure you pull back your entertainment expenses and limit discretionary spending.

Pay Yourself First. What does that mean? You�re already getting a regular pay check, so what is meant by the notion of paying yourself first? At each pay check, before you pay any bills or credit accounts, put back a little bit of funds into a savings account. Make it a regular contribution and start small, say just two or three percent of your gross monthly income and work up from there over time. If your employer offers a 401(k) program, jump on it, especially if your employer matches part or all of what you contribute.

Limit Credit Accounts. If you haven�t already, you�ll soon begin receiving credit card offers from banks. You�ll certainly need to establish credit, especially when planning to buy a home in the future and get a mortgage, but limit your credit to a single credit card and keep your balances around one-third of your credit line for the best possible impact on your credit scores.

Auto-Pay Student Loans. Student loans today are a fact of life for most college graduates. Set up an auto-pay that will make your student loan payments each time your pay check arrives at your bank. Be wary of student loan consolidation offers that will combine multiple student loans into one larger one. Most of these programs have higher interest rates. If you have multiple student loans and want to pay them off sooner, concentrate on paying down one student loan at a time instead of trying to pay down everything at the same time.

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