HOG 7 top financial tips

As a young adult, you’re making financial decisions for yourself that you weren’t making as a kid. When you leave home for college or the workforce, you enter adulthood pretty abruptly. You have responsibilities that you didn’t have to worry about before, including being financially responsible for yourself. These top financial tips for young adults can help you create a plan to be financially responsible.

Save Money

Saving money doesn’t have to mean making sacrifices and living without things that you love. There are so many creative ways to save money without giving up what you love. You can save money by cutting your TV costs when you use one of these ways to watch TV without cable. You can also think about how you can improve or take care of items you already have, like your furniture. Instead of buying new furniture often, take care of what you have and use these couch stain removal tips to keep your furniture looking new without spending money on new pieces. If you find yourself eventually in need of new furniture or other items, be a financially responsible shopper.

Be a Smart Shopper

As much as saving your money is a smart choice, spending money is a necessity. You need to shop for groceries, pay utilities, pay rent, and pay expenses for your car if you have one. But shopping doesn’t have to mean burning through your money. You can be a smart shopper and be conscious of how you can make the most of your money when shopping. You can use an online shopping extension to help you cut costs when shopping. 


Extensions like Capital One Shopping or Honey will help you find the best deals on the items you need, helping you save money even when you have to spend it. As a young adult, you’ll probably need to make many purchases when you go to college or rent your first apartment. These free extensions can help you save money when you spend, and so can a budget. Creating a budget outlines your spending and where your money goes.

Create a Budget

Creating a budget can help you keep track of your money by allowing you to see how you’re spending your money and where it’s all going. When you budget, you allocate your money in a way that works best for you. As a young adult, a budget can help you create habits that will benefit you and the way you spend money in the future. Creating a budget can be an overwhelming process, especially if you’re a young adult and not sure where to start. 


While it may take a little time on your part, creating a custom budget that fits your income and your spending needs will pay off in the end. You could also consider downloading one of the best budgeting apps of 2021 as another way to make a budget. Either way, using a budget is a financially responsible choice to make. The same goes for cutting costs on your necessary utility bills.

Cut Costs on Bills 

Every adult has to pay utility bills, and most adults try to find ways to cut costs on this necessary expense. Instead of having a gym membership, consider saving on gym costs by downloading fitness apps instead. These apps will help you focus on your health without spending a fortune on gym costs. You could also look into ways to save money on utility bills to help you save. As a young adult, you could also split the costs of utilities with roommates. Roommates are a great option to help you save money on utilities. 


Depending on your financial situation, roommates may be necessary. To make the most of your space, consider solutions to a shortage of space in your home. These storage tips will help you stay organized at home, even with roommates. When you cut costs on bills, that gives you wiggle room in your budget to help build a savings account or pay down debt accrued in college.

Find Ways to Pay for College

As a young adult, college may be an expense you’re dealing with right now. College is a huge financial investment. When you choose to go to college, one of the biggest decisions you’ll make will be how you’re going to pay for college. There are a few good options to consider when you think about how you’d like to pay for college. First, scholarships are a great choice because this is an expense you won’t have to pay back. There are so many scholarships available, including no essay scholarships, interest-based scholarships, and scholarships for all financial backgrounds. 


Completing the FAFSA can be another good option to help you pay for college. Just like scholarships, there are many options available with FAFSA. FAFSA offers many different types of financial aid and can help you get grants, loans, and work-study to help you pay for college. Even though there are many options to help you pay for college, you may want to earn extra money to help cover other expenses or build your savings.

Earn Extra Money

When you earn extra money you don’t need to go out of your way to work in an office eight hours a day. You can earn extra money working part-time in a flexible setting. You can run errands for neighbors or walk dogs in your neighborhood. Tutoring is another great option to earn extra money. You may want to become an online math tutor or a tutor in your favorite subject to earn extra money. Tutoring online may require a background check, but you don’t need an education degree. There are a lot of options to earn extra money, which is important as a young adult. When you earn extra money, you give yourself space to save, invest, or pay on any of the loans you may have taken out to pay for college. Building good credit is another important financial consideration for anyone, but especially young adults.

Work on Building Good Credit

There are benefits to good credit, like lower interest on credit cards and better repayment options when you buy a car. As important as good credit is, the process of building credit can be confusing. Most people may not know that you can build credit when you’re as young as eighteen. Building credit is an important step in creating financial responsibility for yourself as a young adult. Even if you have low credit, there are ways to improve your credit score. There can be a sense of pride when you check your credit score and it’s gone up. That’s because credit is an important financial aspect of adulthood. Good credit translates to a responsible person to companies and lenders, so improve and maintain good credit, even as a young adult.


Transitioning to adulthood can be like walking a tightrope. It’s a scary process that seems almost impossible without help. But these tips can help you steady your feet as you walk into adulthood and help you create financial responsibility for yourself. You can use these top financial tips for young adults whether you’re in college or leaving home to enter the workforce.

Author Bio: Susana Bradford

Susana Bradford is a frequent contributor on SmartCapitalMind, where she specializes in education and parenting content. She loves to cook Italian food, and likes to play piano and make pottery in her free time.

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