Where do I begin? That's the big question when it comes to managing money. The true, though sometimes frustrating answer is, it depends.
It depends on where you're starting from, the circumstances you're currently in, and what you want your money to afford you in the future.
While there's no one-size-fits all roadmap, each life stage typically comes with new financial challenges and considerations. So we're breaking down the most important money move to make in each decade to help guide your next steps no matter your age.
IN YOUR 20S
Build your emergency savings. Emergencies happen, even in your 20s. Prepare for the unexpected by setting up a separate savings account for covering these costs. While you might not be able to contribute much to start, setting up automatic transfers from your paycheck or checking account to your emergency savings account can get you into the habit of saving. Ultimately, the goal is to build this savings account up with enough funds to cover 3-6 months' worth of living expenses.
IN YOUR 30S
Increase your retirement contributions. If your 20s are about getting started with retirement savings, your 30s are about 'getting on track' and making sure you're investing enough to afford the retirement you want. Consider increasing your IRA or 401(k) contributions with every raise.
IN YOUR 40S
Review your insurance needs. While having adequate insurance coverage is important at every life stage, it's especially important as you have more people, like a partner, kids or even parents, relying on you. So make sure you have the right...