Make These Smart Financial Moves Now

While it’s best to think about your long-term financial health in your 20’s, it’s possible to still get ahead no matter what stage of life you’re in. If you’re reading this, it’s not too late. You may have had bad financial habits, or some unfortunate and expensive things happen in your life. That doesn’t mean you’re disqualified from being smart with your finances. If you’re ready, here are some smart financial moves you need to make now.

Create a Working Budget

The smartest thing you can do with your money is to plan where it goes. This is critical. A working budget will help you create a financial plan that works for your daily life. This helps you recognize any pitfalls or areas you need to work on, so you don’t overspend. First list all your monthly bills. Housing, clothing, transportation, and food are the top four things you need to prioritize. Anything else comes after this. Savings, debts, and even fun things like that Netflix subscription come after. Next, list your monthly income. If this fluctuates, budget using the minimum amount you expect to receive each month.

Pay Off Bad Debts

Are you behind on a credit card? Do you have a lingering medical bill that needs attention? It’s important to pay off these bad debts to improve your overall financial health. Paying off bad debts means that you’ll free up more of your income to use on investments, fun, and living life. You’ll find that you feel freer with these bad debts paid off and gone.

Build Your Credit

There are a lot of ways to build your credit and the methods you use will depend on what’s impacting your credit right now. If you don’t have much credit built, you can easily get loans in Gallup, NM and surrounding areas. You can look for personal loans, lines of credit, and other small lending opportunities. As you pay these on time and then eventually pay them off, you’ll discover that your credit improves over time. If you’re trying to build your credit back up from some poor financial decisions, it helps if you pull your credit report each year. You can request the removal of bad debts that you paid off and so much more.

Learn to Invest

Investing is a great way to build your wealth over time. The earlier you start, the better. However, this doesn’t mean you’re disqualified if you got a late start. Here are some of the options to consider when you are building an investment portfolio. It’s best to work with a financial planner to help you decide which ones are right for you.

Stock Market

Anyone can learn about the stock market. And with apps like Robinhood, it makes it even easier to buy stocks with very little money. The key here is to learn about it first. While it might be fun to dip your toes in with small amounts to get started, you need to understand when to buy, which investments are good long-term, and which ones should be considered short-term holdings.


If your company has a 401K plan, it’s best to invest a bit here. Many companies do a 401K match which helps you to build your retirement fund more quickly. This can be especially important for people who get a late start on saving up for retiring.


Yes, I am putting this here because it can be a good investment. Just like any investment strategy, don’t put all your eggs in one basket. Cryptocurrency can be a good long-term investment or help you reach short-term goals. It’s best to learn about the different technology that underlies each coin so you know what you’re actually investing in.

Real Estate

Have you seen the videos about how to make money by flipping contracts, creating AirBnB’s, and flipping houses? The opportunities for real estate investments are limitless. The key is to choose something that works for you. Some people may start out by renting out a spare room or tiny house on their property. Others may expand to purchase properties they use solely for AirBnB purposes. Others try something called rental arbitrage to get started with AirBnB investing. The important thing here is not to jump into something blindly. Learn everything you can about what you want to do with your money so you can make wise decisions starting now.