planning for the future

Tips on Stashing Cash & Planning for the Future When You’re Single

It’s never too late to start to control the way you spend or look at money before it controls you.The sooner you’re able to stash cash and make responsible choices with your money, the better off you’ll be especially if you’re disciplined with your actions. Let’s explore how to get started and learn what method is best for you. 

  • Bargain shop & Downsize. Start looking for things that are more affordable from clothes to a smaller place to live that doesn’t leave you scrambling for loose change at the end of the month. 

  • Organize your personal documents. You don’t have to wait until you think you’re old to make important decisions like drafting a will and purchasing life insurance. You may also want to think of appointing someone as power of attorney when thinking about the future. Be sure to add beneficiaries to all your financial accounts as well. These things are essential and a must.  

  • Handle your debt. Start to eliminate your debt which can range from student loans to credit card expenses sooner rather than later. Debt accumulates fast so learn how to save, invest, and stash cash into an emergency fund monthly. 

  • Hire a financial planner. Managing your finances can feel overwhelmingly impossible at times. Consider getting help and advice from a financial advisor. 

Finally, get on a budget. Don’t be afraid to leave your credit cards at home. If budgeting your money is extremely foreign, then consider using budgeting software until you're comfortable to do things on your own. Good luck.