The twenties. At no other point in time in your life will you be better able to set yourself up for financial success than in your twenties. Or, failure for that matter.
But don’t stress, you have enough on your plate: school, your first awkward years of a real job, investing, insurance, possibly marriage … you see where this is going. Determining what to really focus on can be difficult when so much is thrown at you so quickly.
The following are six milestones that you should aim to hit in your twenties. In most cases, the sooner the better. And for those who already think they are hot stuff, I’ve highlighted ways that you can show you’re a true pro and earn “bonus points” in each area.
1. Graduate and move on
Very few people actually know what they want to do at the point when they start their secondary education. And many dig themselves tens of thousands of dollars into debt trying to figure it out. Student debt recently passed credit card debt for the first time ever — quite a sad statistic. And now that 60% of employers are completing a credit check as a reason to weed you out of the jobs you are applying for, it’s more important than ever to keep debt under control.
If you don’t know what you want to do for the rest of your life at age 22, it’s okay. You are normal. I’ve seen employers hire people from all walks of life for more general occupations. And you can then learn on the job what your strong points are and what you want to do next. If going back to school is necessary at that point, go for it. If not, don’t. But jumping from one degree to the next is not going to get you there.
Bonus Points if you pay off your student debt by age 30. It may seem ambitious, but if you can work while in school, apply for and receive scholarships and financial aid, graduate as quickly as possible and move on, it is a strong possibility.
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