Graduating college and entering the so-called “real world” is an intimidating feat. You’re picking out retirement plans, selecting an insurance plan and making a down payment on your very own apartment. But when a large portion of your income goes toward all these things, will you still have enough to support your social life?
[find-an-apartment]The answer is yes, as long as you know how to budget your money and make smart decisions. If you’re already overwhelmed by trying to figure this entire thing out, check out these top resources to help you manage your budget without pulling out all your hair.
Budgeting
How much money do you spend on dining out with friends? What about groceries? You may be surprised to see exactly how much you spend on specific items when you have it organized, categorized and laid out in front of you. Click over to these resources to see how you can best manage your budget.
Related blog posts:
Grow Your Credit Score with These Tips
Tune In with These Budget-Friendly Alternatives to Cable
How to Grocery Shop on a Budget
Sweep Away Bad Budgeting Habits with a Savings Plan
Retirement Planning
Why would you use up the little income that you have for something you won’t be able to touch until your 50s or 60s? It seems a little odd to already start planning for retirement, especially in your 20s, but it’s never too early to start. According to MSN, if you put $4,000 a year into retirement accounts starting at the age of 22, you can have close to $1 million by age 62. Starting 10 years later means having to put almost twice as much into your account annually. Talk to your employer, as well as a financial institution, and ask for retirement planning literature. To learn more about budgeting for retirement planning, check out Investopedia.
Photo Credit: Shutterstock / Aaron Amat