In a recent report by the Bureau of Labor and Statistics (BLS), it was revealed that the average weekly earnings for women aged 16 to 24 are $695, shedding light on the financial challenges faced by young adults. Financial educator Kionnie Epps, known for her work on The Responsible Homegirl platform, has shared crucial advice for women in their twenties.
Commit to Financial Planning:
Epps emphasizes the importance of creating a budget every payday, regardless of the frequency of your pay. By mapping out where your money needs to go, you can avoid frivolous spending and make better financial decisions.
Prioritize Your Savings:
Epps suggests prioritizing savings by setting aside a portion of your income before paying bills. Even a small amount can make a significant difference in times of financial need. Epps recalls a personal experience where neglecting savings led to facing eviction, emphasizing the importance of building a financial safety net.
Invest in Financial Education:
To secure your financial future, Epps recommends investing in financial literacy. Whether through courses, podcasts, or books, educating yourself about finances is key to making informed decisions and building wealth. By learning, growing, and saving, you can pave the way for long-term financial stability.
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