Money Guide for 20-Somethings

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I've been in the "real world" 3 years now, and have been able to invest more than the minimum in my company 401(k), buy a house (and afford the payments!), build a 6 month emergency fund, max out my Roth IRA, and still find time to take vacation and spend time at the beach. I don't have a ridiculous salary as it's around the engineering average for my area. I just want to say it is possible to be able to live life and afford SOME luxury. Don't try to live beyond your means.
Moderation is key, and planning is the first step. I agree that with the article that you should pretend like you're still in college for a while. Set up the company match from the very first paycheck and you won't miss the 3%/6%/10% as that full time paycheck is way more money than you saw in college anyway. Most every bank has automatic transfer and you should get in the habit of paying yourself first. Whenever you get paid (biweekly/monthly) take some money and have it auto-transfer to your savings account. Transfer as much as you can. If you can life comfortably while saving $50, try raising it to $75...or $100. Has your life really changed THAT much?

Stu of VA 4:51AM April 28, 2009

I'm graduating in about a month from Boston University and this is some really great advice for me! I recently accepted a full time job that doesn't pay what I would have liked...but it is a job that I know I will love. Saving for the future scares me a little bit...and not having enough money to pay rent in Boston also puts some stress on my life!! I know many people go through this, I use Geezeo to manage my finances and gain advice from peers my age from the Geezeo 20-Something Group (https://www.geezeo.com/g/show/20_something_money_nothing)...there is some really great stuff on how to save money and what to do when your stuck in this age! Thanks for the great advice, this will definately help me as I move forward into the future and start paying for everything myself!

Hannah of MA 10:48AM April 25, 2008

Great article, but not everyone can live at home. My program is super unique, and only 3 schools in the nation offer it. One is in Colorado, one in NYC, and one in Providence. However the NYC program is the most reputable and that's the one I went to...unfortunately NY is a little far from NH to live at home. And when I lived rent-free in NJ for a few months, I was spending more on transportation than I was making per month at my work-study job....moving into the city made sense even though it meant increasing my student loan debt.
I also just made the sad realization had I paid 25 dollars a week on student loan debt when the loans were first disbursed, I would have paid off almost 7k by now or 2 years of my stafford loan.

Veronica of NY 3:33PM April 21, 2008

Wow, I never thought about continuing the frugal life after college. I won't be attending a college for another two years, but this is deffinatly good insight for the future, especially with the costs of everything, from gasoline to milk to tuition, rising.
Also, I want to give a shout-out to Cousin Rachel! Miss you!

Becca of ID 10:53PM April 18, 2008