4 Financial Decisions You’ll Never Regret

You shouldn’t wait until you have money to get smart about money. After all, how are you going to get rich if you don’t get started saving and taking other money-smart steps as soon as you can? Here are some financial decisions that you’ll never regret – decisions that you should be making now to set you up for success later.

1. Get (More of) an Education

It may be very tempting to take a job right out of high school and just stop your education there. Higher education may seem too expensive and another 4 years (or more) of school can seem just too overwhelming. And how are you going to juggle more school and the other things going on in your life? But nowadays it's easier than ever to get more education, thanks to online programs. Taking part in something like Adelphi’s MSW Program will not only give you the skills for a job you’ll love for the rest of your life, but studies show that people with a master’s degree can earn around $17,000 more a year than someone with just a bachelor’s degree. Signing up for more school may not sound like a “financial” decision, but in the end it is – and a good one, at that.

2. Save

From the very first paycheck you ever get, you should be setting aside some of it and putting it into a savings account. When you are young, problems (and retirement) seem very far off, but throughout your life you will have ups and downs, and you want to make sure that you are as prepared as you can be for hard times. Starting a nest egg is a good idea so that you don’t have to get into debt if you decide to buy a car or have to spend money to keep your old one running. And getting started early on a retirement fund is another excellent idea and one that you will never regret. You don’t have to save a lot each month, but make sure you save consistently. Even $10 a check will eventually add up (although you should aim to save as much as you can, and make sure to increase this amount as your pay increases).

3. Learn How To Invest

“Stock market,” “mutual fund,” “401K” – these are just a few of the terms you run across when you start looking into investing, and it can all be quite daunting at first. What do they all mean? However, there are easy ways to get started. You don’t have to know everything at first, and you don’t have to have a lot of money to invest. And nowadays it is easier than ever to learn all about what these terms mean and low-risk ways to get started. And if all else fails and the idea of investing is just too much for you, you can enlist some professional help, either online or in person.

4. Learn How To Make a Budget

Perhaps, if you don’t have much money, you are wondering why you should make a budget. But that is exactly when you should make a budget! Writing out how much you make and what your bills are every month gives you some perspective on your money. And part of making a budget is keeping a good track of where your money goes, whether it is for bills or fun. You may be surprised to find how much you spend on fancy coffee every month, and you may decide your money is better spent elsewhere. But you can’t make those decisions if you don’t know where your money goes in the first place!

You don’t have to be a financial genius to make some sound financial decisions. There are steps you can take everyday to make your financial dreams come true. And, the time to get smart about money is as soon as you start making it, no matter how young you are.