Young & Free Maine offers money management advice for young adults to start the New Year
January 15, 2016
A new year means new resolutions and, inevitably, managing finances usually makes the list, especially for young adults. In a segment that aired statewide on WCSH 6 and WLBZ 2, Young & Free Maine Spokester, Mallory Lavoie, offered tips and advice on how 18-25 year-olds could better manage their money and finances in 2016.
In the segment, Lavoie spoke about the "financial challenges that young people face including buying a car, student debt and lack of budgeting." She highlighted six simple tips for young people to help to better manage their finances:
- Set a reasonable budget.
- Save more money every month with automatic transfer payments.
- Come up with an aggressive debt repayment plan, even while you're still in college.
- Simplify life by using online and mobile services offered by credit unions.
- Get financially smart with resources from Maine's credit unions.
- Protect your identity.
Lavoie urged young adults to learn about their finances, and highlighted Maine's credit unions and youngfreemaine.com, as valuable resources to help with this process. "Maine credit unions make it super convenient to become more financially fit, from saving money to getting a loan, credit unions are a great resource and choice," she stated.