I came across this article on Straits Times which wrote about millennial’s financial status and how we can go about managing our finances. It starts off mentioning that millennial, aged 22-37 years old have actually started saving early as compared to the baby bloomers (1946 and 1964) and Gen X (born after the baby boomers but before the 1980s).
They gave 9 main tips to how millennials can go about about managing their finances.
1. Start early
2. Cultivate proper money management habits 3. Set financial goals4. Set aside emergency funds5. Avoid bad debts6. Think health insurance7. Consider compounding8. Invest9. Plan multiple income flows You can read more: 9 financial planning tips for millennials
Even though the article is kinda like an advertisement for Manulife, I believe that the tips mentioned there can help not just millennials but people who want to get started in managing their finances.
I was particularly intrigued by …