Your 20s are an exciting time. This is when you explore career options and learn to manage money. However, it’s easy to make financial missteps if you aren’t planning ahead. By taking advantage of certain financial services and strategies, you can start saving and come out ahead during this important decade of your life.

How to Save Money Before 30

1. Develop a Budget

Saving money involves knowing where it’s going. Draft a budget to help you identify your biggest and most important costs as well as how much you can afford to save. 

Primary costs include your rent, utility bills, insurance, and food. Secondary costs could include luxuries like gym memberships, buying a new cell phone, and eating out. 

2. Put Money in a Savings Account

If you can afford to spend some extra money, consider putting it directly into a savings account. By putting part of each paycheck into a high-yield savings account, you’ll actually earn money throughout the year. If you start investing in a savings account in your 20s, you’ll likely accumulate a comfortable sum by the time you hit 30. This is one way to increase your savings instead of just maintaining it.

3. Invest in Stocks

Savings accounts aren’t the only type of financial service that helps you grow your money over time. Investing in stocks lets you put your support behind companies and share in their success. Consider talking to an investment expert to get set up with a portfolio. If you don’t have a lot of money for sizable investments yet, consider using financial apps that let you work with small amounts.

If you’re ready to increase the amount of money you save, choose Armstrong County Building & Loan Association in Ford City, PA. With a wide range of financial services, including deposit and loan products, they can provide the help you need to save money no matter your age or financial goals. Whether you want a new account with check cashing service or you want to get a loan, visit their website or call (724) 763-7137.