Why Is It So Hard To Be A 20something?

Now I don't know how you feel about Taylor Swift. Personally I love her, but I know plenty a person who doesn't care for her, which is perfectly within your rights. However regardless of how you feel about Taylor Swift, I think you'll agree that she's nailed being a 20something right on the head in her new song, 22.

"We're happy, free, confused and lonely at the same time. 

It's miserable and magical." 

- Taylor Swift, "22"

The simple fact is that being a 20something is just plain hard... and wonderful, it's wonderfully hard. There is something about this decade which makes life seemingly impossible to navigate. Really there are just too many questions that come with your 20s, and big ones too. What do you want to do with your life? Who are you going to date/break-up with/cry over/marry? Where do you want to live? How on earth do you make friends outside of college? Are you a good person? Is it still okay to drink this much? Am I supposed to act like an adult now? See what I mean, overwhelming and seemingly endless.

Money Saving Tip No. 1

Tip No. 1: Keep Your Money Far Away

Disclaimer: None of the banks recommended below are paying me to promote their services, rather as a personal customer of said banks I feel inclined to share with my readers what has worked for me. 

Though traditionally applied to weight-loss rhetoric or the getting over a relationship spiel, I find the phrase "out of sight, out of mind" perfectly applies to the process of saving money.

The reality is if you're in your 20s, you are close to broke. If you're not, good for you, but chances are you could still stand to learn something about money management. Ironically enough, the most important time to learn money management skills is when you don't have much money to begin with. To be fiscally sound you have to be spending less than what you make, and if you don't make a lot to begin with you see where knowing how to manage your money becomes even more essential.

Start by making a budget. Click here to view my post about the basics of 50-30-20 budgeting.

Once you have your budget under control it's time to get your money as far away from you as possible.

 The theory is-- if your money isn't easily accessible, you won't use it as often, especially concerning the dreaded impulse buy. So how do you keep it away from you?

• Open a Savings Account separate from your main bank: Opening a Savings Account apart from your primary bank (usually where your debit card comes from) allows you to increase the length of time it takes you to access your money. If it takes you 3-5 days to transfer money into your checking account, chances are you will only tap into your Savings when it is an absolute emergency. 

• My favorite bank is ING Direct. ING is an online bank that allows you to easily transfer money from your checking account directly into an ING Savings Account, which earns you a 0.75% APY (Annual Percentage Yield), compared to say Bank of America, which gives you 0.01%APY on top of a $300 minimum balance. ING offers great incentives because they cut almost all administrative costs by operating completely online Other advantages of ING online banking include: 
• FDIC insurance up to $250,000
• No minimum balance
• No excessive fees
• Direct deposit from your employer into your savings
• Mobile app with online check deposit

• Other banks that offer comparable features to ING's include ALLY Bank and American Express Bank's High Yield Savings Account. Find links to these two banks and more at Mint.

Keeping your money away is the easiest way to make sure you stay away from impulse buying. By removing your money from instant access and into a high-yielding savings account you will find your money growing without any extra work on your part. 

Note: If you're interested in opening an ING Savings Account, email me at twentyandto@gmail.com and I will send you a personal recommendation that will give you an extra $25 starting bonus just for signing up. For easier access you can also click on this link and still receive the bonus.

Disclaimer: I recently realized there is a $250 minimum to receive the $25 bonus. You are free to open an account and receive the high interest savings, but must have $250 to receive the bonus. 

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