What Young Adults Need To Know About Money When Just Starting Out

by Hank Coleman

Need To Know About Money When Just Starting OutCollege graduates and their parents are faced with a daunting challenge of managing their finances on their own, often for the very first time. But, many recent high school and college graduates have a lot of questions.

It stems from not receiving the proper education from our school system and their parents on how to handle money, debt, and investing on their own and not knowing what to do when they are just starting out.

Many have questions such as: How much do I need to save for in an emergency fund? Should I invest in my employer’s 401k retirement plan? Are credit cards the right way to build a credit history in order to help me pay for my first home?

These are many of the financial questions, and there are more, that young people in their 20s and 30s are struggling with and do not know where to turn for the answers when they are just starting out.

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Our school systems have done a poor job preparing our children to answer these personal finance questions. We as parents have also done a poor job preparing our children for the daunting tasks of managing their money, investing for retirement, paying down debt, and living the lives they had dreamed of growing up.

What Young Adults Need To Know About Money When Just Starting Out

In this episode of the Money Q&A podcast, “Your Money: Your Choices“, I interview Chris Smith who is a former senior finance executive with Hewlett Packard and the author of the book, “Securing Your Financial Future: Complete Personal Finance for Beginners”. We talk about a wide range of personal finance topics from budget, debt, student loans, credit cards, emergency funds, and everywhere in between. This is a great conversation for both recent high school and college graduates and their parents which tackles the tricky personal finance questions head on. You won’t want to miss it.

More About The “Your Money: Your Choices Podcast”

Roth IRAs, CDs, stocks, insurance, your 401K . . .what are the right choices for your financial future? Your Money: Your Choices will clear out the cobwebs and confusion surrounding these concepts and more with clear and concise information. You’ll hear tips and tools that you can put into action right now to help save your hard earned income in way that will protect your future for a healthy retirement. Whether you are a single mom or a father of five, “Your Money: Your Choices” will get you on track and put your money back in your control where it belongs!


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Past Episodes Of “Your Money  Your Choices”

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About Hank Coleman

Hank Coleman is the founder of Money Q&A, an Iraq combat veteran, a Dr. Pepper addict, and a self-proclaimed investing junkie. He has written extensively for many nationally known financial websites and publications. Hank holds a Master’s Degree in Finance and a graduate certificate in personal financial planning. Email him directly at Hank[at]MoneyQandA.com.

Hank Coleman has written 581 articles on Money Q&A. Learn more about Money Q&A on Twitter @MoneyQandA and @HankColeman.

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{ 2 comments… read them below or add one }

Kevin @ Growing Family Benefits

The Affordable Care Act has young adults in its cross-hairs. As we speak the government is rolling out a huge advertising outreach and young adults are the primary target.

They are simultaneously the most unaware, under-insured, and most coveted. There will be plenty of “education” aimed at this group. Their participation is needed to subsidize costs for older, sicker populations.


Simon @ Modest Money

Great interview!
I think as young people we need to realize that time is one “asset” we have working in our favour. If one can start early and stash away something, they won’t have to struggle so hard later in making things work financially. They will have a solid base on which to build on throughout life.
Indeed, “Time was invented to prevent everything from happening all at once.” 🙂


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