Money Moves: What to Do With Your Cash at Every Age

Bola Sokunbi, founder of Clever Girl Finance, stresses the importance of starting financial planning early. She suggests beginning with your employer's retirement savings option, especially if they offer a match. This allows younger folks to take full advantage of compounding, dividends, and appreciation. "Pay yourself first" is a great habit to get into. Route money into your savings account with each paycheck. Think about your spending values and live below your means. Brian Steiner of Life Happens recommends learning about 401K and IRAs. Investing early through your employer is key. By the time you're in your 30s, you should aim to have a solid financial foundation. This means having an emergency fund set aside. Also, consider milestones like buying a house or starting a family, and plan for those expenses. It's crucial to maintain a balanced budget and avoid overspending on things you don't need. Remember, saving and investing are ongoing processes.