Put yourself at ease by protecting those you love
It was revealed in a study by the University of Rochester, published in Psychology and Aging, that having a busy social life in your 20s can be a good indicator of your future mental health. Having many people in your 20s makes you more socially integrated and cope better psychologically later in life.
In 2013, the Global Commission on Aging and Transamerica Center for Retirement Studies, in partnership with the U.S. Travel Association, has released a study revealing that "travel offers the same sort of physical and cognitive benefits as crossword puzzles or museum visits". Simply put, traveling keeps us healthier by stimulating our minds and bodies. Moreover, engaging in a hobby and physical activities can do miracles in our overall health and wellness.
Right now, buying your first car may be your next big move, but life will only get bigger and you must be prepared. While getting married at 28, having your first child at 30 to travelling around the world by 35 may seem far down the road, deciding on your financial goals as early as now can help you allocate savings to turn these financial goals into reality.
Save enough to build an emergency fund, an amount enough for you to bounce back from the event of losing your job or a medical expense. Having money that is easily accessible during an emergency will make your life a lot easier when the unexpected occurs.
Take on the habit of spending less than what you make, there are a lot of fun things you can do without burning through all that hard-earned money. Your money set aside could be used for bigger things like travelling, pursuing further studies, and real investments. However old you are, it’s never too late to start building your wealth. But the smart move is to start today, and you can start by spending your money wisely.