Top 10 Things Gen Y Should Know About Money

Let’s face it, the harsh reality is that when you graduate from college, you’re going to be in a shitload of debt, your parents will be on your ass, your girlfriend will probably leave you because you’re broke, and the dreams of being a baller start to dwindle.  But have no fear, we are on the same page, I’ve been there and done that.  Follow some of these basic principles and you’ll be on your way to getting on the right track.  As simple as they may be, you’d be surprised how many of them that you really don’t focus on.  Get your shit setup and it will give you some positive mojo to land the boss and the girl.  You can thank us later.



Most of them often spend their money without knowing that eventually they will have responsibilities that will need this money.

The strange thing is that most of them often do not that paycheck comes with a responsibility, foresight and planning. Remember that the more you plan today the more you are likely to enjoy the fruits of your hard work tomorrow.

If you want to start a new beginning by learning the things that you need if you want to be the “champion” in this game of money, then the following are some of the tips that you should know;

1. Avoid get rich quick tricks

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We all know that almost everybody would like to get rich, unless your dad was a billionaire. Many people sometimes do things in the name of getting rich without knowing the consequences that they subject themselves. This means that you have to be patient as you work hard because hard work always pays and patience is the best virtue you can ever have.

2. Improve your credit rating

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The use of credit cards has been the main reason why people become financial unstable due to impromptu spending. They should always help you manage your money better without spending what you have not earned. This means that you have to learn how to use your credit card if you want to avoid financial leverage.

3. Manage your spending habits

Strip Club Takes Money Back

Many people especially the youth often waste of their times spending on things that they do not need instead of using the money to make investments. This means that you have to keep track how you spend your money since this will help plan how to will manage your money. You must always concentrate on your needs as opposed to your wants.

4. Share the expenses with your roommate

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For those people who have roommates, it is important you discuss on the best ways you can share cost to reduce the amount you spend. This will help you reduce on the redundant expenses thus enabling you to reduce the amount that you spend.

5. Keep track of charges and fees that you incur


We have many expenses that people often incur without knowing especially on the charges and fees. These expenses may include Bank ATM withdrawals, obtaining loans among others. These hidden costs can sometimes accumulate leading to huge expenses in the end.

6. Research before buying your new car

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For those people who earn decent money, they should always research on the best cars that are available before making a decision to make the purchase. Despite the allure, you should always stay focused to make the best purchase in the market after your research.  Or, just say ‘fuck it’ and buy a Lambo to go balls out.

7. Make sure you learn how to make priority on the bills to pay first


Bills often represent the cost that you have incurred on the day-to-day life. Depending on the number of bills that you have, you should always prioritize them depending on your needs. You can divide them into long-term and short-term bills to help you make the best choice on which ones to pay first.

8. Have an emergency fund

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Many people often live their lives without considering the emergency expenses that sometimes emerges as we live on a daily basis. This means that you have to set up funds that you will always use when an emergency strikes. This will also prevent you from borrowing that often comes with additional costs. The contingency plan should help you settle emergency expenses that often come in life.

9. Set goals for medium term


You make sure that you set your financial plans into medium terms to enable make decisions in life that enables out fulfill them. In addition, you should always plan your life at least 10 years from the time that you are living, as it will help you work hard to achieve them at the same time avoiding deviations.

10. You should to save for your future (retirement)


You have to know that you will never work forever and there will be a point in time where you will have to retire. Make sure you make plans in advance on the amount of money that you will save for the future. Remember that there are several retirement benefits schemes that you can buy to start saving to fore your future.

So save up & get paid homie…