Top 10 financial tips for millennials

by Members Plus Credit Union

As a millennial, you’re part of a unique and special generation. You’re probably at the exciting stage in life where you’re just starting out — or you’re beginning that career climb. Undoubtedly you want to avoid some of the financial pitfalls that have befallen previous generations, but how can you do so? Read below to learn the top 10 financial tips for millennials today.

  1. Build Up Your Retirement Savings

Wells Fargo revealed that 45% of millennials weren’t planning ahead for retirement, but that doesn’t mean you can’t start now. Take part in your employer’s 401(k) plan, even if you can only afford to contribute the minimum. You can build your contributions as you advance in your career.

  1. Start a Savings Account

Open a savings account, even if you can’t contribute much right now. You can use the savings account to put money aside for short term and even long term goals. For example, you can fund your holiday buying with your savings account if you save a little each money through the year.

 

continue reading »