Your 20s are Vital for your Financial Future


Your 20s are the most important time period for your financial life. It is actually able to determine if you are able to retire on time or not, pay off your home and other such things.

So why are your 20s so important? Here’s a look at why your 20s are vital for your financial future.

Compound Interest

Compound interest is where money is able to grow upon itself. It is then an investment income that is able to grow on its own. If you invest money that has a return interest, then every year this money will grow.

compound interest

The longer that you keep your money invested then the more interest you will earn.

Compound interest also has the ability to work against you if you are paying off debt. The longer that the interest grows on your debt the more and more it will become. At some point the interest that you need to pay on your debt consolidation loans become the same or even more then what you borrowed.

When you are in your 20s you should also look at repaying any debts that you may have whether it’s a student loan debt, a credit card debt or a car loan.

You need to make sure that you are using compound interest in your favor instead of against you.

If you are in need of financial advice then speak to your banks or an independent financial advisor. They will help you in finding the best way to create value of your money.

It is easy to ignore financial futures when you are younger, but planning now can help you more then you think in the future, as you will not be able to work forever and life throws you various challenges along the way. Having a set financial goal and sticking to it will help in the long run.


Saving Tips for Families


As a family you will have all kinds of expenses, so it is important that you know how you are able to save money and stay within your budget. Here is money saving tips for families.

money saving

Meal Planning

One of the most common downfalls and ways for a family to spend money is grabbing a takeaway instead of making dinner.

You are then able to save money by planning your family meals, which means that you will not have the excuse of what is for dinner. It is easier to plan a week at a time. You will then know each day what you will have and what it will cost.

Shopping Smart

You do not need to collect mountains of coupons in order to save money on your groceries. You just need some smart shopping strategies so that you do not overspend.

You should only shop once and get everything that you need at once. If you keep popping to the shops for something then you are more likely to overspend and you will use more gas.

Also don’t forget that many grocery stores will have in store savings that you can take advantage of.

Reusable Items

Goods that are disposable are cheap, but you will find that you are buying the same items on a constant basis. It might be a good idea to then invest in products that are reusable. For instance instead of buying paper towels all the time, invest in washable cloths. This allows you to save money in the long run.


Buying secondhand items is a concept that you will have to get used to. You are able to buy plenty of items that are secondhand that will not actually affect you. You are able to buy books secondhand that are all in readable condition for instance. Toys for your kids are other items that you can look at getting secondhand.

Shop Around

You should always take the time to shop around especially for things like cellphone plans and insurance. You may find that you are able to get these cheaper then what you are currently paying and this can completely change your lifestyle.

Home Entertainment

You might be tempted to take your kids to the movies or just out for the day, but have a look at how you are able to entertain them at home. You can opt to play board games or have a movie night and just get some popcorn. If you need to get out of the house, then prepare a picnic and go to the park.

Saving Energy

As a family you will save money by saving energy, but you may not have the money to invest in all the latest energy saving products. You are though able to employ simple ideas like turning off the lights, keeping showers short and other such things. Saving energy is a habit that you and your family will need to get into, but in the long run you will save money.



Ways to Stay Out of Debt


Everyone should have the goal of staying out of debt but it is harder then we think to do this. Here are some simple tips that can help you to stay out of debt.


Don’t Spend more than you Earn

You are unable to have a debt free lifestyle if you are spending more than you earn. You are able to curb spending habits by:

  • Create a direct deposit to a savings account. This follows the out of sight out of mind philosophy. If you don’t see the money you have then you won’t be tempted to spend.
  • Set a saving goal so that you are excited to save for something.

Track your Spending

The spending rule you should live by is needs first, then savings then wants. By tracking your spending you can check that you are following this rule according to

Wait for a Sale

When you are looking to buy something you should wait for a sale. You can download apps that allow you to scan barcodes to see if it is cheaper anywhere else. When you shop for groceries it is harder to shop on sale, but there are coupons and coupon sites that you can look at to get a discount on items you buy.

Look After Yourself

You can quickly fall into debt if you don’t take care of yourself and have to go to hospital. You should follow a healthy lifestyle by eating healthy, exercise and relax. You should also visit your doctor yearly for a check-up and ask questions regarding your health.

A Simple Life

You should focus on getting the best out of what you do have. Instead of going out to spend money look for ways to do things for free or cheap like:

  • Learning to cook
  • Visit the park
  • Community fairs and activities
  • Go to your local library