The 20s are an important time period in one’s lives it’s a time when you’ve begun earning or are pretty much into your first or second job, you have the spending power. However, handling money is not something all of us are equipped with and we need advice and tips lest we are left wanting later in our lives.

Here are some well-worn money tips for your 20s:

Negotiate your salary right:

If you don’t do this right, your earning potential for the rest of your career will be affected. Make the right connections and seek them out to vouch for you during evaluation. Be proactive and ask for a review six months into the job. This way you will know if you want to stick to the job or not or what else can be done to solve the bump along the way.
Take advantage of your credit cards: Research and zero-in on a card that will give you rewards you actually benefit from. But that would mean that you would need to pay back in full every month. Balances that are untended to, can mean accumulating interest. So if planned well, you could be covered through the month without hassles and earning rewards like discount and gift card along the way!
Avoid being fleeced on ATM fees: Avoid withdrawing money from ATMs other than your bank’s ATM. Little costs tend to add up. Withdraw $20 every time you are paid. This will cover for some small and big expenses like meals, tips, paying the valet, etc. Even better, download an app that helps you track the right ATM easily.
Start saving early: consider saving $100 a month in your twenties, so that you have more than a million by the time you are in your 60’s. but you start saving only during your 30’s you might end up with 50% less than that. Also, start early on a 401k, a Roth or an IRA and, with a good broker, it is never too late to put some money in the stocks.
Save more: As long as you don’t have a house to pay for or kids to raise, it isn’t much to save 20% of your earnings. This will put you ahead when you want to buy that dream house or have kids who want to go to college. Also, avoid putting money in a stable fund and invest in an equity instead. An equity might seem like a risk, but a stable fund will not see you through inflation.

Lastly, take charge, be accountable for everything you spend. Once you start noting everything you spend dollars on, you will easily be able to recognize the expenses that are simply a drain on your finances and the ones that are absolutely necessary.