7 Moves For Saving and Investing Before you Turn 25

7 money moves you should make before you turn 25

Even if math isn't your thing, it's important to figure out exactly what you're spending every month. Add up all the money you have coming in -- generally, that's your paycheck. Then subtract what you regularly spend. If you're not disciplined enough to write down all your purchases, ditch the cash for a month and use a debit or credit card to get an electronic record of all your spending. Just keep in mind: people tend to spend more when swiping plastic.  If the result of your calculation is positive, consider putting the difference into savings. But if you're spending more than you're taking in, it's time to cut back.  When it comes to saving, aim at socking away 20% of your income. If you can consistently set your life to be able to save 20% in total, you are getting a firm foundation for your financial security. It doesn't matter if you're a spender or a saver. In order to budget better, you need to get to the core of what drives your financial decisions. Your relationship with money often stems from your childhood and how your parents approached and talked about finances. "You need to know what you believe about money, what are the emotional anchors and what could impede your ability to make good money decisions.”