finance

Entering your 20s means you'll quickly need to learn how to navigate the world of personal finances, much of which you probably didn't learn in college or high school courses.

Without any previous lessons on finances, it can be challenging to know where to start. Follow this guide as we outline the financial decisions you'll need to make in your 20s.

Setting a Budget

The first step to being a fiscally responsible young adult is setting a budget. Your budget will determine many future financial decisions, from where you can live to what splurges you can make. Look at the expenses you currently owe every month and your projected income to determine how much you should be spending on bills, daily expenses, etc.

Tackling Debt

Getting rid of your debt as early as possible is a critical step for newly independent 20-year-olds. However, some may not be able to get rid of debt as soon as they hope. Once again, look at your budget, then decide if you'd like to put more toward tackling debt now or pay your loans as they come.

Getting Coverage

While you may be able to hold onto your parents' insurance until 26, you'll have to choose your own plans sooner or later. From health insurance to renter's and car insurance, you shouldn't skip an opportunity to cover yourself in the case of an accident. Find a provider and plan you're comfortable with, and get your coverage as soon as possible.

Saving for a Rainy Day

Navigating how to save is another critical financial decision you'll have to make in your 20s. Living paycheck to paycheck is not a sustainable course of action. Even putting a small portion of your wages into a savings account can make a big difference—especially if an emergency you didn't prepare for occurs.

Starting To Invest

Investing is a scary topic for young adults, but it's a great way to build wealth. Starting to invest as a young adult will set you up for success on your long-term financial plan. However, be sure to conduct research before jumping into the market to decide when, where, and how much you'd like to invest.

Your 20s are an optimal time to learn and grow. One area of life you'll undoubtedly learn a lot about is managing finances. Use this guide to help you get started on the path to becoming a fiscally responsible adult.

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Button Finance

Helping Americans achieve financial independence through better access to capital!

Here at PayPath, we are always looking for new ways to stay ahead of the game! Recently, we stumbled across a new company with an interesting model that has revolutionized the process of obtaining home equity loans.

If you have been down this road before, you know exactly how nerve-wracking the process can be and how long it can take to complete. So before you make any major, life-changing decisions, take 5 minutes to check out Button Finance and what they have to offer.

What Is Button Finance?

Button Finance, an innovative New York-based Fintech, launched its first product, Button Home Equity Loans. Button enables homeowners to borrow against their home equity through a hassle-free online process that delivers quick decisions and funding in as little as 5 days.

American homeowners have record levels of home equity, and limited avenues to monetize it. Mortgage cash-out refinancings are becoming more difficult, while personal loans are prohibitively expensive. Button Finance lets borrowers tap into their home equity by providing highly competitive and customized interest rates using its state-of-the-art underwriting engine.

"Americans have a debt problem, and frequently resort to high-cost borrowing options like credit cards and personal loans", said Jason Harris, CEO of Button Finance. "Button's Home Equity Loans will empower borrowers to harness the value of their home equity to pay down high-interest debt, or to make value-enhancing renovations to their homes."

How Does It Work?

Button Finance's class-leading technology eliminates many of the frustrations associated with a typical mortgage application. With a paperless application and digital document delivery, Button Finance has streamlined the mortgage application and underwriting process. A dedicated customer service team helps borrowers close their loans in record time.

Adam Nagin, a partner at the mortgage financing and debt acquisition company L&L Capital Partners, noted how Button Finance's customer support team helped him secure an SBA loan. "Button Finance's team guided us through the PPP application process and found me a lender when nobody was picking up the phone, I'm excited about their new home equity product and expect big things from their team."

Check out Button Finance today to see if it is the answer you have been looking for!