Best Financial Advice For Each Decade of Your Life

Life in your 20s is very different from life in your 50s. You aren't in the same place each decade of your life and your financial needs change. There are constant good decisions like don't spend more than you can afford, save up for a bad day, and so on but what about the advice that changes? Here are some of the best pieces of advice for each decade of your life.

00s-10s

Welcome To the World of Finance

Get yourself a piggy bank to start and make sure you're saving up! Collect your allowance and gifts in there. Once you're a little older get yourself your first job. If you have the ability to have your own spending money that's great but don't spend it all. You'll start college and want to have some of your own money that won't go just towards groceries. If you start saving when you're young you won't regret it.

20s

Learn How To Budget

Learn the difference between your wants and your needs with a good budget. Find your daily and monthly expenses to see how much room you have to work with. The easiest way to do that is to download a budget app that will keep track of everything you spend, even the things you forgot about. Find out where your money is going, and see if it's being allocated properly. You might think that you have some spare cash and can buy yourself something nice, but are you saving anything for the future?

Make a Debt Plan

Student debt is a crushing reality for most young people, do you have a plan to pay it back?

You can't let it linger or grow to ruin your financial future. Work the payments into your budget and find some strategies that will help lift the burden. Check out these strategies for repaying student loans and try your hardest to keep up with the payments. Automatic payments can work wonders for taking some pressure off on remembering the bills.

Build Up Credit

Get a credit card, get a credit score, and pay back everything you buy on time. It's as simple as that if you want to have a stable financial future. Don't buy something you can't afford, and if you need to make sure you are paying it off responsibly each month. Your credit score will control your future with loans, banks, landlords, and more. Whatever you do, don't forget to pay the bills and have it destroy your credit score before you even start. Once again, automatic payments are the way to go.

30s

Rethink The Budget

Your life is different than your 20s. You have more belongings, you might be making more money, and it's time to rebudget. Increase the money going towards your emergency fund savings. Adjust your insurance to make sure you have adequate coverage and are getting the best deal. Make sure you're staying on top of your debt repayment plan. You have kids, or are they on the horizon? Make sure there's room for them in the budget, and not just the immediate needs but their future college funds.

Start Saving For Your 401(k)

Nearly half of families don't have any retirement savings. Hopefully you've started saving in your 401(k) by matching your employer's percentage, but it's time to bump that up. Experts recommend saving 15% or more of your income for retirement. If you contribute now every dollar you withdraw in retirement will be taxed at your ordinary income- tax rate, aka its some tax-free income in retirement.

Diversify Investments

Once you have your budget covering immediate needs and a percentage saved for emergencies you can invest for the future. Do your research and find the best options for you, your investment portfolio, and your family. Don't stretch yourself too thin and make sure you aren't taking risks that you can't recover from. Here are some great tips, and potential investments.

40s

Keep Up The Good Work

Make sure you're adjusting your budget for your needs without indulging in lifestyle inflation. Paying your bills on time is just as important as it was in your 20s and 30s to make sure you still have a great credit score. If you've been saving up for your kids college funds and weddings remember to not stretch yourself over to the retirement funds.

Get Estate Planning Help

It's time to set up your will. Sure you may feel young and healthy now, but you want to be ready for whatever might be coming your way. Think about your retirement goals, the future allocation of your assets, and your power of attorney and health care proxy. Organize the chaos before it becomes any sort of problem.

50s

Consider the Kids

You want to make sure everyone has a financial future, and if you are making sacrifices for them that you can't get out of nobody benefits. You can't borrow the money back for retirement or medical needs once its gone. If everyone is moved out, consider downsizing to a smaller place. The upkeep will be cheaper and you can look at places in a lower tax bracket. If your situation has changed, consider taking another look at your will.

Keep an Eye on the Finish Line

Retirement might feel like it's close enough to touch or miles away depending on your financial situation. Hopefully you've been saving and can just keep investing in your 401(k). The government wants to help you save for retirement and once you're 50 you can save more tax-free in IRAs, Roth IRAs, and health savings accounts.

60s

Reevaluate Your Situation

Return to the diversification of your portfolio and adjust your assets. When you near retirement it's a good idea to make more conservative investments while staying aware of inflation. If you've been saving, investing, and budgeting then you should be in a good place. Obviously accidents and illnesses happen and that can throw everything into chaos, but if it takes you a little longer to get to retirement don't judge yourself. Everyone gets there in their own time.

No matter what decade you're in there is a lot to learn about how you can make your financial situation better. It never hurts to think ahead and compile a long term plan. Take your time, do your research, and when you can try to consult an expert to ensure your future success.

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Where to Donate to Support Afghanistan and Haiti

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NBC

Over the past month, both Haiti and Afghanistan have been pummeled by tragic disasters that left devastation in their wake.

In Haiti, a 7.2 magnitude earthquake erupted, leading over to 2,189 deaths and counting. A few hours later, in Afghanistan, Kabul fell to the Taliban just after U.S. troops had pulled out after 20 years of war.

In many ways, these disasters are both chillingly connected to US interference. The United States invaded Haiti in 1915, ostensibly promising to restore order after a presidential assassination but really intending to preserve the route to the Panama Canal and to defend US creditors, among other reasons.

But the US forces soon realized that they were not able to control the country alone, and so formed an army of Haitian enlistees, powered by US air power and intended to quell Haitian insurrection against US controls. Then, in 1934, the US pulled out on its own, disappointed with how slow progress was going. Haiti's institutions were never really able to rebuild themselves, leaving them immensely vulnerable to natural disasters.

Something similar happened in Afghanistan, where the US sent troops and supported an insurgent Afghan army – only to pull out, abandoning the country they left in ruins, with many Afghans supporting the Taliban.

In both cases, defense contractors benefited by far the most from the conflict, making billions in profits while civilians faced fallout and devastation. While the conflicts and circumstances are extremely different and while the US is obviously not solely to blame for either crisis, it's hard not to see the US-based roots of these disasters.

Today, in Haiti and Afghanistan, civilians are facing unimaginable tragedy.

Here are charities offering support in Afghanistan:

1. The International Rescue Committee is looking to raise $10 million to deliver aid directly to Afghanistan

2. CARE is matching donations for an Afghanistan relief fund. They are providing food, shelter, and water to families in need; a donation of $89.50 covers 1 family's emergency needs for a month.

3. Women for Women International is matching donations up to 500,000 for Afghan women, who will be facing unimaginable horrors under Taliban control.


4. AfghanAid offers support for people living in remote regions of Afghanistan.

5. VitalVoices supports female leaders and changemakers and survivors of gender-based violence around the world.

Here are charities offering support in Haiti:

1. Partners in Health has been working with Haiti for a long time, and they work with the Department of Health rather than around them, which is extremely important in a charity.

2. Health Equity International helps run Saint Boniface Hospital, a hospital in Haiti close to the earthquake's epicenter.

3. SOIL is an organization based Haiti, "a local organization with a track record of supporting after natural disasters." They are distributing hygiene kits and provisions on the ground to hospitals and to victims of the earthquake.

4. Hope for Haiti has been working in emergency response in Haiti for three decades, and their team is comprised of people who live and work in Haiti. They focus on supporting children and people in need across Haiti.

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How the Beyoncé and Jay Z Controversy Shows Gen Z's Money Priorities

via Tiffany & Co.

When the new Tiffany's campaign was unveiled, reactions were mixed.

Tiffany's, the iconic jewelry brand which does not (despite what some might be misled to believe) in fact serve breakfast, featured Jay Z, Beyoncé, and a rare Basquiat painting in their recent campaign.

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How to Save Money on a Road Trip

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Stacker.com

Road trips can be a lot of fun — but they can also drain your wallet quickly if you aren't careful.

From high gas costs and park admission fares to lodging and the price of eating out every night, the expenses can add up quickly. But at the same time, it's very possible to do road trips cheaply and efficiently. Without the headache of worrying about how much money you're leaking, you can enjoy the open road a whole lot more. Here's how to save money on a road trip.

1. Prepare Your Budget, Route, and Packing List in Advance

If you want to save money on a road trip, be sure you're ready to go. Try to count up all your expenses before you hit the road and create a budget. It's also a good idea to plan your route in advance so you don't end up taking unnecessary, gas-guzzling detours. And finally, be sure to pack in advance so you don't find yourself having to buy tons of things you forgot along the way.

2. Book Cheap Accommodations — Or Try Camping

All those motel rooms can add up surprisingly quick, but camping is often cheap or free, and it's a great way to get intimate with the place you're visiting. You can check the Bureau of Land Management's website for free campsites. Freecampsite.com also provides great information on If you don't have a tent or don't want to camp every night, try booking cheap Airbnbs or booking hotels in advance, making sure to compare prices.

Camping camping road tripConde Nast Traveler

If you're planning on sleeping in your car, a few tips: WalMart allows all-night parking, as do many 24-hour gyms. (Buying a membership to Planet Fitness or something like it also gives you a great place to stop, shower, and recharge while on the road).

3. Bring Food From Home

Don't go on a road trip expecting to subsist on fast food alone. You'll wind up feeling like shit, and it'll drain your pocketbook stunningly quickly. Instead, be sure to bring food from home. Consider buying a gas stove and a coffee pot for easy on-the-go meals, and make sure you bring substantial snacks to satiate midday or late night cravings so you can avoid getting those late night Mickey D's expeditions.

Try bringing your own cooler, filling it with easy stuff for breakfast and lunch — some bread and peanut butter and jelly will go a long way. Bring your own utensils, plates, and napkins, and avoid buying bottled water by packing some big water jugs and a reusable water bottle. Alternatively, try staying at hotels or Airbnbs with kitchens so you can cook there.

4. Avoid Tolls

Apps like Google Maps and Waze point out toll locations, so be sure to avoid those to save those pennies. (If it takes you too far off route, you might have to bite the bullet and drive across that expensive bridge).

You can also save on parking fees by using sites like Parkopedia.

Road Trip Road TripThe Orange Backpack


5. Save on Gas

Gas can get pricy incredibly fast, so be sure that you're stopping at cheap gas stations. Free apps like GasBuddy help you find the most affordable gas prices in the area. Also, try going the speed limit on the highways — anything faster will burn through your tank. Be sure that you don't wait till you arrive at touristy locations or big cities to fill up.

6. Get a National Park Pass

All those parks can get really expensive really fast. If you're planning on visiting three or more parks, it's a great idea to get an America the Beautiful National Parks Pass. For $80 you can get into every National Park for one year.

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