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Spending Money In Your Twenties

By: mdautner


Being a twenty-something in any part of the United States can tend to be an interesting time in an American’s life. It is a time in which most people refer to as “being in one’s prime,” as well as your early thirties. The fact of the matter is, as time marches on, and generations evolve according to their environments, the premium placed on being a twenty-something in the United States becomes skewed.

Most people in there twenties are either in college or fresh out of college looking to make a considerable splash in whatever area they choose to pursue. It is undoubtedly an exciting time for most Americans; however, there are some restrictions.

Being that you are either in college or newly graduated, the bitter truth is there is a very good chance you have some sort of loan in which you will need to start thinking about paying off. Not to mention those who are embarking further in regard to their education, meaning taking on more student loans.

This obviously puts people in there twenties in a difficult situation financially speaking. You are either hunting for your first real job that does not involve serving beer to unappreciative guests or writing a customers nickname on a frivolously designed coffee cup, or you are continuing your education and keeping that small gig for cash on the side. Whichever one applies to you, there is a few things you should know about how to responsibly spend your limited funds.

For those living off loans or modest starting salaries there are a few methods that must be implemented into one’s spending routine. First and foremost, it is always important to remove any sense of entitlement from the equation. If you’re living on your own away from mommy and daddy, it is no longer appropriate to lean on them for financial support. As we all know, starting salaries are not very handsome, but they are sufficient if you play your cards right.

The first priority for people in their twenties is usually their rent, and for good reason. Unless you’re paying a high premium on a car lease every month, rent is going to be your biggest expense. As such, it is imperative to mold your spending habits around this major responsibility. It can often seem inexplicably unfair, spending your hard earned money on a place to live. You were so used to having your family home just sustain itself financially, or your parents footing the bill on tuition and dorm expenses.

Listen, everyone needs to blow off some steam. Your ability to do so is often tied to the amount of money you have available for frivolities. Recreational spending is something that often constricts people in their twenties. You want to go visit friends, you want to go out at least three nights a week, and you want to go to that new Thai food place down the street. All of these activities require you to have smart spending habits to some extent.

The key to successfully navigating through all of these financial waters is to act in moderation. Simple things like packing a lunch for work, cutting out cable and just focussing on the internet bill and using a Roku for your entertainment needs (we all know cable is becoming obsolete anyway, so this shouldn’t be too hard), and also, using public transportation whenever possible. Some of these may seem obvious, but you would be surprised to know how many people in their twenties are not taking advantage of these simple budgeting-hacks.

Being a twenty-something in 2015 has its pros and cons. On the one hand, you are in your youthful prime and ready to take on the world. On the other hand, you are limited in the amount of funds in which to take on the world.

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