If you're questioning how to put your money to use in your 20s, here are three smart money moves to set yourself up for success later in life, according to two certified financial planners.
The most common forms of debt for twentysomethings include credit cards, auto loans, student loans and personal loans.
High interest rates have made paying off debt even harder, and in 2023 people under 29 carried an average of nearly $3,000 in credit card debt.
To tackle credit card debt, Rossman recommends either signing up for a 0% balance transfer card or consolidating your credit card debt if you have several balances on different cards.
Student loans are another common burden for many young people, with nearly 35% of adults ages 18 to 29 carrying student loan debt, according to the Education Data Initiative.
Persons:
you've, Z, Andrew Fincher, Joe Conroy, Ted Rossman, Rossman, Fincher
Organizations:
Financial, CNBC, Education Data Initiative
Locations:
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