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In your twenties you have your whole life ahead of you. It is the time in life that you are finding yourself and discovering your new found adulthood. However, your twenties do not last forever. It is important to plan your future as early as possible. Financial planning should commence at this time when you are young and full of life. Success does not just happen, it takes careful premeditation. Planning meticulously is a part of it. So, Where do you start? What do you do? Below are tips to planning in your twenties.

HAVE A GOAL.

Having a goal is extremely important. A goal is like a destination on a journey. Find out where you are and where you want to be. How much money do you want to have in savings? Do you have an emergency fund? How much cash do you plan to retire on? Do you want to work well into your 60's or would you like to retire early? It depends on you. The point is, have a goal.

WRITE IT DOWN.

The next tip is to write it down. I can not express how important is to write down everything you plan. When you document your plans you make it substantial. Seeing it on paper confirms it. So,get some paper and write down your plans.

HAVE A PLAN.

The next tip is to have a plan. This is the premise of your financial plan. You must ask yourself where you plan on being in 6 months . Do you want to live at home or move out? Write down you steps for getting to the goal at hand. Make it easy to follow. It also helps to have dates at the end of each goal you plan to reach. Make it count.

GET A JOB.

If you do not already have one, attain one as soon as possible. Having a job is important if you want to have money to save and put aside for your future. The money is being used to get to the next level.

MAKE THREE PIGGY BANKS.

Make three piggy banks and label one SAVINGS, INVESTMENTS and CHARITY. Make sure these piggy banks are easy to see. In the morning contribute at least one dollar to each of them. Do this everyday. At the end of the month put your liquid savings into a high yield savings account. Put your investment money in an investment account. Give your charity money to a church organization. It is important to think about people who are less fortunate. If you can afford it, increase your amount from $1 to $2. This will increase your savings and investments.

BEGIN INVESTING IN A CD OR TREASURY BOND

To begin your journey with investing I suggest you invest in either a certificate of deposit or treasury bond. A treasury bond is considered to be one of the most secure asset vehicles because it is backed the United States government. A CD is also very safe and provides you with 5% return on your money. You can put your money in a 6 month to 5 year cd. The longer you keep your money there the better.

Overall, it is best to begin financial planning in your twenties or as soon as possible. During this time save your money and educate yourself on how money operates.

Learn more about this author, Angela Diggs.
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