Money Moves: A Gen Z Guide to Financial Freedom
*Disclaimer, I am not a financial planner.
Let’s talk about money. Not in a boring, “you need to save for retirement” way (even though that’s important), but in a real, relatable way that sets you up for financial freedom. Because let’s face it: money touches everything—from your daily Starbucks run to your dream of owning a house someday. Learning about financial literacy now means you can make smart decisions that pay off in the long run.
Why Financial Literacy Matters
Here’s the deal: The earlier you understand money, the more power you have over it. Financial literacy is about knowing how to budget, save, invest, and plan for the future. It’s not about being rich—it’s about having choices and security. Whether you’re saving for your first car, a dream vacation, or your own business, the steps you take now can make all the difference.
And let’s not sugarcoat it: Women have historically been left out of financial conversations, leading to pay gaps, fewer investments, and less wealth-building over time. But guess what? We’re changing that, starting now.
The Basics: Budgeting and Saving
1. Budgeting: Tell Your Money Where to Go Think of a budget as a game plan for your cash. It’s all about knowing how much you have, where it’s going, and making sure you’re covering your priorities. Here’s a simple method:
50/30/20 Rule: Allocate 50% of your income for needs (like rent or food), 30% for wants (like concerts or shopping), and 20% for savings or debt repayment.
Use apps like Mint or YNAB (You Need a Budget) to track your spending.
Pro tip: Keep receipts or use a notes app to jot down expenses. Knowing where your money goes is step one to controlling it.
2. Saving: Pay Yourself First Saving isn’t just about what’s left over at the end of the month—it’s a habit. Treat your savings like a bill you have to pay. Start small and grow it over time.
Open a high-yield savings account (they earn more interest than regular savings accounts).
Set up automatic transfers so a portion of every paycheck goes straight into savings.
Goal: Have an emergency fund with 3-6 months’ worth of expenses. This is your safety net for unexpected events.
The Glow-Up: Investing and Financial Planning
1. Investing: Grow Your Money Investing might sound scary, but it’s one of the best ways to build wealth. Here’s a quick breakdown:
Start with index funds or ETFs (Exchange Traded Funds). They’re beginner-friendly and less risky than picking individual stocks.
Use apps like Acorns, Robinhood, or Stash to start investing with just a few dollars.
Pro tip: The earlier you invest, the more time your money has to grow. This is called compounding—basically, earning interest on your interest. It’s magic.
2. Financial Planning: Think Big Picture Planning isn’t just about today—it’s about where you want to be in 5, 10, or 20 years. Ask yourself:
What are my financial goals? (A car? College? Traveling the world?)
What do I need to do to get there? (Save more? Spend less? Earn extra income?)
Meeting with a financial advisor or using online resources like NerdWallet can help you map out your goals.
Breaking Down Financial Myths
Myth 1: “I’ll start saving when I make more money.” Nope! Start now, even if it’s $5 a week. Small steps add up.
Myth 2: “Investing is only for rich people.” Wrong again. Many platforms let you start with as little as $1.
Myth 3: “Debt is always bad.” Not necessarily. There’s good debt (like student loans or a mortgage) that helps you invest in your future, and bad debt (like high-interest credit cards). The key is managing it wisely.
Take Control of Your Financial Future
Money doesn’t have to be stressful. The more you learn, the more empowered you’ll feel to make smart choices. Whether you’re budgeting your first paycheck, building your savings, or starting to invest, every step counts.
You’ve got this, GRL fam. Let’s start making money moves today! What’s your biggest financial goal right now? Drop it in the comments and let’s keep the convo going!
