Important money tips for those in their mid-twenties

(InvestigateTV) — The latest report from the Bureau of Labor and Statistics (BLS) shows that a typical 16- to 24-year-old woman earns $695 per week, making it difficult to meet basic needs.

Kionnie Epps is a financial advisor from the popular website and YouTube channel The Responsible Homegirl. She shared some important money tips for women in their twenties:

Make a commitment to plan your payday

“Any time you get paid, whether it’s weekly or bi-weekly or sometimes even monthly, I’ve met teachers who get paid monthly, then you create a monthly budget,” Epps said. “But make a commitment to sit down and think about where I want my money to go. What do I actually want to do with my money? Most of the time we just spend money aimlessly because we don’t sit down and think.”

Pay yourself first

Save some money before you pay a bill, even if it’s just $10 or $20 per paycheck.

“I was the girl who always put on a good face,” Epps said. “I lived my life to the fullest, but when I got my brand new apartment, I was facing eviction four months after moving in. I often think that if I had prioritized my savings, I would never have been in a situation where I was facing eviction. If you always prioritize your savings, you will always have a savings account.”

Invest in yourself

Find ways to learn about finances, whether it’s by taking a class, listening to a finance podcast, reading a book on personal finance, or following the path to wealth building. Learn, consume, grow, and remember to save.

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