There's a wealth of information available to us on the internet. Any topic you can imagine is covered by the vast knowledge the web contains; never before has it been so easy for so many to learn and share new things.
However, this also presents a challenge. It can be difficult to navigate through all this information to find pieces of it that are the most important or most valuable.
It can take a skilled researcher to find all the relevant bits of the puzzle and then assemble them together in a way that makes sense. This may be why financial literacy amongst the millennial generation isn't any better.
It takes work and time to figure out something as complicated as money and personal finance — and sometimes, it's overwhelming trying to understand it by yourself. I wanted to help by composing a list of the twenty things most important for 20-somethings to know.
Once you've got these things down, you'll have a solid base of knowledge and understanding from which to work. Learning the basics is the first step to becoming a personal finance expert — and those basics are all right here.
1. You have to budget.
I don't care if it sounds lame. You have to know how much you make, where you spent it, and what's left. Being aware of your spending habits is going to allow you to take control of your money so you can put it to work for you.
2. Get out of debt.
And stay out! Debt is the worst, because it will slowly eat away all the money you worked so hard to earn. The longer you have it without doing something about it, the more interested you'll eventually have to pay. Make a plan to start paying off your debt today, and stick with it until it's gone. Then, learn from your mistakes and avoid acquiring more debt in the future. (READ MORE)