The Best Money Move at Every Stage of Your Life
In our 20s, getting by on an entry-level salary can make it tough to set long-term financial goals. Nearly half of female investors ages 25 to 34 agreed with the statement “I am driven more by the present than the future when it comes to financial decisions,” according to a 2014 Ameriprise Financial study.
Many millennial women are delaying marriage, which also brings financial challenges, says Stefanie O’Connell, author of The Broke and Beautiful Life: “They’re contending with the higher cost of living alone and saving up for major milestones on their own.” On top of that, four in ten millennials describe their debt as "overwhelming," according to a 2014 Wells Fargo study.
Your Best Money Move: Negotiate. Asking for $55,000 instead of $50,000 early in your career could amount to $600,000 over 40 years.