The 20s are an important time period in one’s lives it’s a time when you’ve begun earning or are pretty much into your first or second job, you have the spending power. However, handling money is not something all of us are equipped with and we need advice and tips lest we are left wanting later in our lives.

Here are some well-worn money tips for your 20s:

Negotiate your salary right: If you don’t do this right, your earning potential for the rest of your career will be affected. Make the right connections and seek them out to vouch for you during evaluation. Be proactive and ask for a review six months into the job. This way you will know if you want to stick to the job or not or what else can be done to solve the bump along the way.
Take advantage of your credit cards: Research and zero-in on a card that will give you rewards you actually benefit from. But that would mean that you would need to pay back in full every month. Balances that are untended to, can mean accumulating interest. So if planned well, you could be covered through the month without hassles and earning rewards like discount and gift card along the way!
Avoid being fleeced on ATM fees: Avoid withdrawing money from ATMs other than your bank’s ATM. Little costs tend to add up. Withdraw $20 every time you are paid. This will cover for some small and big expenses like meals, tips, paying the valet, etc. Even better, download an app that helps you track the right ATM easily.
Start saving early: consider saving $100 a month in your twenties, so that you have more than a million by the time you are in your 60’s. but you start saving only during your 30’s you might end up with 50% less than that. Also, start early on a 401k, a Roth or an IRA and, with a good broker, it is never too late to put some money in the stocks.
Save more: As long as you don’t have a house to pay for or kids to raise, it isn’t much to save 20% of your earnings. This will put you ahead when you want to buy that dream house or have kids who want to go to college. Also, avoid putting money in a stable fund and invest in an equity instead. An equity might seem like a risk, but a stable fund will not see you through inflation.

Lastly, take charge, be accountable for everything you spend. Once you start noting everything you spend dollars on, you will easily be able to recognize the expenses that are simply a drain on your finances and the ones that are absolutely necessary.

Financial advisers are professionals who offer a broad spectrum of services. Finding a trusted financial adviser is the first step to planning your finances for whole life. This can even include retirement and estate planning.

Financial Planners and Investment Advisers
Investment advisers consult with clients and guide them to create an investment portfolio that provides the result the client needs – capital growth, income streams, security of investments.

A Financial planner is a broad term. They can be an investment adviser, while the reverse isn’t always true. A financial planner offers advice on many different aspects of the financial affairs of the client.

Advisory or Fiduciary Services?
An investment adviser might act in just an advisory capacity, giving suggestions to the client on the best securities that suit the client’s aims.

They may also act in a fiduciary capacity, completely managing the client’s investment affairs making decisions about selling or buying securities, about long term investments etc, If you’re looking for fiduciary services, choose financial advisers who are also certified or registered. They should be governed by a regulatory authority to provide great service.

A fiduciary must put the client’s interests above their own. For instance, when providing investment advice, they must fully understand your requirements and pick the best investments for you instead of choosing investments that may pay themselves a higher commission.

Registered Professionals
Investment advisers who are registered with the Security Exchange Commission or the state securities board are the best people to act in a fiduciary capacity. They are governed by the Investment Advisers Act of 1940 and must operate to a set of standards.

For complete financial planning services, seek professionals who have a Certified Financial Planner (CFP) designation. To achieve the CFP designation, the financial consultant must have a bachelor’s degree from an accredited college and have a certain amount of experience in the financial advisory field.
They must also complete the required CFP educational program and pass an exam to get certified. A CFP is expected to conform to a code of ethics in their professional services.

A Financial Planner can offer comprehensive services to clients. This can range from personal budgeting to investment management and asset allocation, tax planning and tax preparation, retirement planning and estate planning.

When seeking the service of financial consultants, do some research. Read about their professional qualifications, their experience, and their reputation in the industry. If you’re looking for a good financial adviser, look at the top 100 or top 50 lists prepared by financial print publications or websites. You can pick the 10 best financial advisers across the country or the 10 best financial advisers in your state and choose one you think you’ll be comfortable with.

It’s never too late or too early to start financial planning. Find a good financial planner and manage your finances in such a way that you’ll be set for a comfortable life after retirement.

When you are at a good position in the market, where finances are expanding, you need to control your money. It might seem easy, but the reality is a lot more than that.

As with any planning, you’d need accurate strategy to save, invest and grow. You may think you can do it, but complexities grow over time. A financial adviser would not only not allow your money to stagnate, they’d ensure that you know how to invest it.

Hiring a financial adviser can let you to be serious about your money. You won’t procrastinate when it comes to managing your assets. You can start your watch for good financial advisers by conducting a research first. Check the 10 best financial advisers that you can find near you and see if they work out.

You can start by browsing through the list of 10 best financial advisers in the country. By doing so, you can narrow down the possible characteristics each of them have. This lets you know what you’re looking for.
Once you’ve prepared a plan about what you need, you can start asking around your financial circles. You can approach other professionals and colleagues who’d know.

Other than that, here are few points to remember before hiring a financial adviser:

Look for Certification
A Certified Financial Planner should be on the top of your list before you hand over your finances. A certification adds credibility to a person, because they need to have top notch skills. These skills ensure that a financial adviser knows what they’re doing.

You can use the Certified Financial Planner Board’s information for accurate credentials. This step is important so you know a financial adviser isn’t involved in any unlawful activity.

Once you have a list of potential advisers, certifications can help. Other than that, you can make use of your local governing authority to get information.

Fees and Charges
Financial advisers have their own method of charging you. There are many costs and charges involved. You should be ready for all of this.

There are generally three ways in which financial advisers would charge you.

First would be flat rates/fixed charges, where they would cover a predetermined area. You would pay based on your needs.

Second is on commission basis, where they tell you what is best for you. They may push extra schemes too. It’s advisable to avoid commission based financial planners.

Third involves ascertaining the percentage of your assets the adviser would be managing.

So, you can opt for either a fixed rate or asset based financial management based on your needs. This lets you find someone who is not only affordable, but also ensures that you get the most for your money. They’ll help with investing your money and keeping it growing.