3 Easy Steps for Millennials to Take Control of Their Finances

Early financial awareness is important since students are faced with so many important financial decisions.

Here are 3 steps to get your started:

Begin saving now!

The most important step you can take  is to start a small savings account. Begin depositing into it often, and as much, as you can. Make it an automatic deposit, the first bill you pay each payday, as it’s the most important! If an emergency comes up, like your vehicle breaking down or someone having to visit the hospital, you won’t be thrown into debt. You’ll have some savings to pay for that emergency, and you may use your normal paycheck for normal charges. 

Avoid unnecessary fees. 

Established in 2015, BankMobile is the nations’s first no-fee,virtual bank. BankMobile offers checking, savings, lines of credit, and access to to over 55,000 surcharge-free ATMs nationwide, as well as a personal banker for all customers. VIP members have free access to any ATM in the country and a free financial adviser. It is a Federal Reserve regulated and FDIC-insured commercial bank.

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New members can join by downloading the BankMobile app using promo code SAMKEL.

Earn some extra cash.

Entrepreneur Ross Simmonds says “From extra spending money to the opportunity to build new skills – side hustles just make sense. Everyone working in the 9 to 5 should have or consider starting their own side hustle.” A recent study by Michigan State University found that the job market is the hottest it’s been in a while, and projected a 16% increase for hiring 2015 college graduates.

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WayUp is a website for college students to find jobs and internships. These employment opportunities include part-time jobs during the school year, summer internships, one time gigs, and full-time job opportunities for graduating seniors. Employers post jobs directly on the WayUp site, which is completely free for students to use. 

Do you have a side hustle? Let us know what it is in the comments!

 

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