Don’t let your finances control you – be the one to control your finances in your 20s. Managing money, saving up, and paying bills right out of college can be a stressful undertaking for a lot of people. Experiences, both good and bad, are what force us to really learn the ropes when it comes to managing our wealth and assets.

It doesn’t hurt to educate yourself on how to avoid making money blunders in the mean-time. Here are 7 ways to control your finances:

1. Budgeting:

It’s not fun, but it’s necessary. Time to set up a budget for your bills that also involves you putting a little money aside each paycheck. You want to start saving.

2. Insurance:

Health insurance, dental insurance, car insurance… it’s all necessary. Instead of dragging your feet, embrace their support.

3. Debt Repayment:
   Up the payment on your student loans and any other loans you may have. Get rid of them as soon as possible, and you’ll be incredibly happy for it. Once you see a future without debt, you’ll have more options.
4. Emergency Fund:

Unforeseen things happen. This is why you must be setting aside part of your paycheck already with each biweekly payment.

5. Retirement:

You may be 23 now, but one day, you’ll be 73 and want to dip into your retirement savings for a comfortable elderly lifestyle.

6. Credit History:

You MUST safeguard your credit at all costs. Set up automatic payments on your credit card so you are never late.

7. No to Parental Money:

You need to make it on your own, which means it’s time to say goodbye to your allowances from mom and dad.

Get in control of your financial situation today.