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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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10 Reasons to Wake Up Early

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When that alarm sounds and you're all cozy in bed, slapping the snooze button seems like the only reasonable thing to do. But before you doze off for the third time in a row, consider all you can do if you woke up–not only on time, but one hour before you normally do. You could get more done, feel and look better, and lessen your day-to-day stress and anxiety.

As per Elite Daily, "Studies show people who get up early are generally happier than their late-sleeping counterparts." And Business Insider adds, "(Early risers) say they feel healthier than their friends who prefer the night life."

Here are 10 things you can achieve by waking up one hour earlier. Just be sure to hit the sack at a reasonable hour to assure adequate sleep, and tomorrow will be the start of a new you.

Exercise

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No more excuses for not having enough time in the day for working out. Rise and shine and get moving right away. You will feel proud that you're working on your fitness, and the energizing boost will keep you in the zone all day. As per Huffington Post, "Working out boosts endorphins and other mood-elevating substances that can help lift your spirits as you take on the day. Morning workouts result in better energy levels throughout the day and give you more mental alertness and sharpness." Once you start seeing results, you'll appreciate your early wake-up call.

Check Email

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Why wait until you get to the office to check your email? It will interfere with other pressing tasks at hand and you may wind up rushing through them – missing vital info and perhaps replying without having a chance to reflect on your responses before hitting "send." Wake up and review your email carefully, weeding out the junk and thinking out your replies. Even if you don't have a chance to respond immediately, at least you know what's lurking in your inbox, so you can organize your thoughts and prioritize.

Prep Healthy Food

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When we're in a rush, healthful eating can go out the window. It's much faster to whiz through the drive thru than to fix our own meal at home. But with a whole hour free for culinary adventures, you can prepare healthy meals for the full day. Go ahead and chop a fresh salad for lunch and get some chicken or salmon marinating for grilling come dinnertime. Cut up veggies and portion out nuts and dried fruit for snacking throughout the day. Whip up a protein-packed smoothie for a go-to drink that's filling and good for you. Your healthy eating will not only do your body a service, but you'll have the fuel you'll need to conquer your day. For some menu inspiration, check out PayPath's A – Z guide to mind-boosting foods.

Catch Up on News

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There are times, especially in the current climate, when we want to avoid the news altogether, but staying up-to-date with what is going on in the world is important. You want to be in-the-know of worldwide and local happenings, so you are aware of and engaged with the status quo. Aside from gaining knowledge and perspective, you will be better equipped to participate in meaningful discussions with co-workers and friends. Read the paper, tune into the morning news, pop on the radio, or search online for the latest coverage.

Get to Work on Time

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Showing up late to work is not only irresponsible, but it causes undo stress and an air of chaos. Wake up earlier and you'll have plenty of time to get things done before heading out of the house, allowing you to leave yourself ample time to account for any heavy traffic or other commuter issues. You may even arrive early, providing quiet time to get your day in order and to settle in without disruption. Plus, if you get in early, your boss may allow you to head home early too.

Have Some Alone Time

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We can all benefit from some time to ourselves. "Me time" is recharging and a great way to reflect on ourselves and those we interact with. If you have kids, be sure to rise while they are still sound asleep or else you alone time is sure to go out the window. During this peaceful time, consider meditating, going outside to watch the sunrise, or simply enjoy a hot cup of coffee or tea. Entrepreneur suggests keeping a journal. "Journaling helps process previous events, clarify thinking, understand life's context, notice feelings, record significant lessons and ask important questions."

Do Household Chores

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After a long day at work, the last thing anyone feels like doing is tending to the household chores. Loading laundry, vacuuming, and washing the dishes are not exactly welcome home gifts. If you wake up earlier, you can get these nuisances out of the way and they'll be off your mind. Not to mention, coming home to a spic and span house is a pleasant way to end the workday.

Eat a Wholesome Breakfast

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With an entire hour free, sitting down to a healthy breakfast sounds tempting. No more sticky granola bars or fattening muffins for you. Now you can not only eat healthier, but actually have the time to enjoy a decent meal. Consider a protein-packed omelet, slow-cooker oats, whole wheat pancakes, or a fresh fruit salad topped with seeds and nuts. If you aren't quite ready to eat so early, you can prep an on-the-go breakfast to take to work. Thesethree easy-to-make recipes will have your mouth watering.

Read a Book

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You've been itching to get back to reading but can't seem to find the time. Your friends are all discussing their latest read, but all you've had time for was the blurbs on the back of the cereal box. Not anymore. Wake up an hour earlier and have time for that page-turner you've been hearing about. And you don't even have to get out of bed. Keep your book on your nightstand and read until it's time to get up.

Plan Your Day

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Waking up in a frazzle is no way to begin a productive day. Give yourself a full hour to plan your day from morning 'till night. Make a calendar of events, set reminders for meetings and appointments, and be sure to schedule family and social activities too. Keep your planner on your smartphone or on paper -whatever works best for you. You won't forget important to-dos and you'll be able to set up the day, so you are able to accomplish everything you wanted to.

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3 Reasons You're Procrastinating and How to Get to Work Successfully

You have a huge project looming yet you can't tear yourself away from Kylie Jenner's latest posts to Instagram. Your quarterly report is due tomorrow afternoon, yet baking an apple pie from scratch seems like a much better (and tastier) idea for now. Urgent emails are filling your inbox, but catching up on your Harry Potter series is all you can think about. Sounds like procrastination and there's a reason you're putting important work off 'till the last minute.

Your tendency to not get on top of things is not (entirely) your fault, but with some insight into the issue, you can take control of your destiny. There are actual reasons you're procrastinating and ways to change your behavior. See if any of these 3 reasons sound familiar. You can get on a better path once you realize the roadblocks ahead of you. But remember, read this NOW, don't put it off for later!

You Don't Want to Do It

Sometimes procrastination occurs when we simply don't feel like doing something. Have you ever let the garbage pail nearly overflow because you didn't feel like bagging it up and taking it to the curb? It's not particularly pleasant, so putting it off as long as possible seems like a reasonable reaction. But as we all know, the trash won't wind up outside unless you finally take it out. And don't you always wish you've done it sooner (i.e. before it starts to stink)?

Same goes for work-related items. Generally speaking, we don't want to do something because we deem it unpleasant (or boring). As perPsychology Today, "The most significant predictor of procrastination is a task that's considered unpleasant, boring, or uninteresting." We can even become lazy about the task(s) at hand and never seem to find the motivation to make a dent in the project.

What to do? According to Forbes, perhaps this project isn't necessary at all. "If you really don't want to do it, could you abandon the task entirely and save yourself the wasted time in putting it off?" If this is really an option, then move on to something that will actually move the needle. However, if totally ditching the task isn't doable, develop a plan.

Psychology Today recommends, "One strategy is to divide and conquer. Shift your focus from the ultimate goal to a series of easy to complete, intermediate tasks. Another strategy is to form an if-then plan to automate goal striving—e.g., if I turn on the computer, I will first work on my assignment for 45 minutes."

While some tasks aren't the most exciting, they won't become any more intriguing as time passes. Just gear up and do it. Thinking about it hour after hour and day after day will only supply you with more reasons to procrastinate. Break up the task into digestible bits and it won't seem so terrible.

Failure is a Worry

While procrastinating when you've got so much to do seems counterintuitive, many of us do so when we are fearful that we may not be successful in the endeavor. The possibility of failure is one of the biggest triggers leading to procrastination.

As per Lifehack, "Of course you cannot fail at something when you don't do it at all. Unfortunately, this is an unproductive way of thinking. Facing your fear of failure will help you eventually overcome that fear, or learn to manage it."

Put it this way. You'll definitely fail if you don't do your work at all. But you have a chance to succeed or at the very least, learn something of value, if you delve in and try. Psychology Today notes, "When difficulties arise, people with weak self-confidence easily develop doubts about their ability to accomplish the task at hand, while those with strong beliefs are more likely to continue their efforts. When low self-confidence causes people to avoid activities, they miss opportunities to acquire new knowledge and skills."

If you were assigned a project at work, your manager or boss believes in you. He or she trusts you have the abilities to succeed. Use their encouragement to fuel your desire to get to work and do a great job.

You're Unstructured

Without a sense of structure or proper planning, it's easy to put off a project that needs a timeline in order to work on it to completion effectively. You may not know where or how to start, so you just don't.

According to Psychology Today, "The collapse of the delay between impulse and decision inevitably favors impulse (e.g., checking Facebook instead of doing work); our easy online access makes urges easy to gratify. One solution to this is to design your environment in a way that makes your desired goal more likely to happen."

You can create a summary of the project or an organizational flow chart. Lay out the items that must be finished before you can move on to the other tasks. If you are working on a group project, assign specific tasks to the members of the group so the work doesn't seem so overwhelming.

In the meantime, remove yourself from distractions like social media and other work that's not as pressing, but more interesting to you. You can get to those things later. Give yourself the best chance to succeed – a clear mind and environment. You will then have the ability to focus and finish.

Are you motivated to get to work without delay? Understanding the reasons why you're putting off important work gives you the chance to do things the right way. Now get to it!

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