4. Guard Your Health
If meeting monthly health insurance premiums seems impossible, what will you do if you have to go to the emergency room—where a single visit for a minor injury like a broken bone can cost thousands of dollars? If you’re uninsured, don’t wait another day to apply for . It’s easier than you think to wind up in a car accident or trip and fall down a flight of stairs.
If you’re employed, then your employer may offer health insurance, including those that save on premiums and qualify you for a (HSA). If you need to buy insurance on your own, investigate the plans offered by the of the Affordable Care Act (ACA). There are federal plans, or your state may have its own plan. Look at quotes from different insurance providers to find the lowest rates and see if you qualify for a subsidy based on your income. If you have health issues, know that a more expensive plan could be cost-effective for you. Research all your options.
If you’re under age 26, then your best choice may be to stay on your parents’ health insurance if they have it.
5. Develop your marketable skills
Unless you’re incredibly lucky, you won’t land your dream job after college or even a few years after you’ve graduated. Millennials tend to switch jobs frequently to find the right workplace for them. With each job, you’re hopefully picking up new job skills, but you should also try to make yourself more marketable by asking to take on new and different responsibilities at each job. Picking up more skills will improve your ability to land better jobs. Learning doesn’t stop just because you’re done with school.
6. Learn self-control
If you’re lucky, your parents taught you this skill when you were a kid. If not, keep in mind that the sooner you learn the fine art of delaying gratification, the sooner you’ll find it easy to keep your finances in order. Although you can effortlessly purchase an item on credit the minute you want it, it’s better to wait until you’ve actually saved up the money. Do you really want to pay interest on a pair of jeans or a box of cereal?
If you make a habit of putting all your purchases on credit cards, regardless of whether you can pay your bill in full at the end of the month, you might still be paying for those items in 10 years.
If you want to keep your credit cards for the convenience factor or the rewards they offer, make sure to always pay your balance in full when the bill arrives, and don’t carry more cards than you can keep track of. This financial tip is crucial for creating a healthy future for your credit history.