When you hit your mid to late 20’s, you should have had enough job experience and a better paycheck. While job hopping, travelling and finding work that fits you are important, you should always be looking to the future — instead of the here and now.
It’s quite easy to fall into the trap of partying and the Instagram life. But don’t think that these shouldn’t be part of your journey. What’s important is that as you enjoy, you’re also smart about your life.
Here are some things you should have at this time:
Think about health and life. You never know what could happen or what diseases you can get during your travels. Health insurance gives you a buffer without being too expensive yearly. This way, you can sleep easy and go to your doctor’s appointments and checkups with less stress. Life and death insurance is a great way to make sure your future is a bit more secure.
Go for self-managed super funds property investment. Land and property are always the best places to put your money in. Investments mean that some of the money you earn now grows into money you can use 10 to 20 years in the future. It’s important to stash cash and income while you’re earning a lot. Be sure to have an extensive research and get some help from industry experts like Sentinelpg.com.au.
3. Disposable income
If you don’t have extra burdens or money sinks, then you’re able to buy yourself something nice every paycheck — after your savings and investments. This disposable income should fit your lifestyle. This isn’t your designer bag fund or your car fund. This is your income for gifts, splurges and dates.
Being smart about your money is important when you’re earning. Your late 20’s should be the time when you’re hitting your stride. Make sure you don’t make financial mistakes that can last you a lifetime.