It is never too early to begin planning for your future. Your 20s is a great time to lay the groundwork for financial success in your later years.

Your 20s can be a really exciting time in your life. You may be just getting started on your career path or settling down with someone special. Your 20s are also an important decade for financial planning. This is because decisions made during this period can have long-lasting effects on your finances. These eight tips for financial planning in your 20s will help you get on the right track to success!

Tips for financial planning in your 20s

  1. Get on a budget

    The initial step in planning your finances is to examine your earnings and create a budget. This will help you in deciding how to spend and save your money. It also offers you a license to unwind since you understand that whatever needs arise during the month are accounted for.

  2. Plan for irregular expenses

    Life isn't always predictable. Sometimes some expenses come out of nowhere, like when your car needs an expensive repair, or you need to buy new clothes for your holiday. These unexpected costs can really throw off your monthly budget and make it challenging to keep on top of your finances. However, if you're prepared with some simple strategies in advance, these types of irregular expenses will not be as scary as they seem.

  3. Save for an emergency

    It is critical to have an emergency fund set up. The last thing you want is for your credit card balances to become too high because you are unable to cover your expenses. This can lead to a cycle of debt that is hard to escape. You should aim towards saving three to six months' worth of living expenses if something happens, and it takes longer than expected to get back on track financially.

  4. Keep track of your progress

    It's time to take the next step in achieving your goals. Tracking your progress will help you know where you are and how close you are to reaching your desired destination. The best way to track your progress is by calculating what percentage of the total goal has been completed and comparing that percentage with the target percentage.

  5. Maximise employee benefits

    When you apply for a job, find out all there is to know about employee perks. Working at a company can offer many benefits that are not always readily apparent. For example, insurance coverage may be offered as part of your compensation package. This insurance could have tax advantages too! When it comes to retirement savings, make sure you take advantage of any employer matching contribution if one is offered to you.

  6. Insurance

    First paycheck, first vehicle, maybe even your first home, happen during this time of life. This is also a period of great motivation, desire, and ambition. Insurance is the best way of protecting all the things you earn at this age. It is also easy to neglect the future and current financial and health risks. Buying health and life insurance has many benefits - the biggest of them being low premiums.

  7. Save for retirement

    The first time you hear the advice of saving for retirement, it seems like a distant issue. However, as you get older and your career progresses, the reality that retirement is coming faster than you think starts to set in. Once again, investing in insurance can be beneficial. Having the right quantity and type of insurance coverage during your golden years may help safeguard financial stability, minimise taxes, give you peace of mind, and potentially boost overall portfolio returns.

    If you are looking to compare and buy insurance online or even learn more about insurance in general, check out Future Generali India Life Insurance.


If you are in your 20s and feel overwhelmed about managing your money, don’t worry. There are plenty of tips to help you get on track with financial planning for the future. By taking steps now, you can ensure that things will be easier when you have to make decisions like saving for retirement or buying a house.

Future Generali India Life Insurance can guide you through this process by providing customised insurance plans based on individual needs at affordable rates. Contact them today if this sounds appealing!