Are you feeling overwhelmed by your finances and unsure where to start?

In Broke Millennial, Erin Lowry provides a practical, no-nonsense guide to managing money, tailored for millennials struggling with financial literacy.

1. Face Your Financial Reality 💡

You can’t fix what you don’t acknowledge—start by assessing your financial situation.

How to Apply: Calculate your net worth (assets minus debts).

2. Get Comfortable Talking About Money 🗣️

Financial conversations—whether with friends, partners, or employers—are necessary for financial growth.

How to Apply: Be open about money in relationships and friendships to set clear expectations.

• Negotiate salaries and raises with confidence instead of accepting the first offer.

3. Create a Budget That Works for You 📊

Budgeting doesn’t mean deprivation; it means having control over your money.

How to Apply: Use the 50/30/20 rule (50% needs, 30% wants, 20% savings/debt repayment).

4. Pay Off Debt Strategically 💳

Not all debt is created equal—prioritize high-interest debt first.

How to Apply: Use the debt snowball method (paying off the smallest debts first for motivation) or the debt avalanche method (paying off the highest interest debts first for efficiency).

5. Start Investing, Even with Small Amounts 📈

Investing isn’t just for the wealthy—start now to take advantage of compound interest.

How to Apply: Contribute to a 401(k) or IRA, even if it’s just a little each month.

6. Build an Emergency Fund for Peace of Mind 🚨

Having money set aside for emergencies prevents financial crises from derailing your progress.

How to Apply: Aim for three to six months’ worth of expenses saved in a high-yield savings account.

• Automate savings so that a portion of your paycheck goes directly into your emergency fund.

7. Set Financial Goals and Stick to Them 🎯

Clear financial goals give you motivation and direction.

How to Apply: Use SMART goals (Specific, Measurable, Achievable, Relevant, Time-bound) to set short-term and long-term financial objectives.

Are you ready to take the first step toward financial freedom and start making smarter money moves?