5 Tips to Achieving Financial Independence in Your 20s

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The early 20s is the age when boys become men and girls, women and with this admirable growth comes a new set of challenges. At this stage in life, most young adults are either in school or gaining on-the-job experience working on a craft. Regardless of current situation, statistics show that 46% of young adults will be tasked with earning the necessary funds required to cater for their personal needs. And for those who fall into this category, life for these young adults can be quite difficult due to financial challenges. Therefore, in this article, 5 timely tips on achieving financial independence will be outlined below.

5 Tips to Achieving Financial Independence in Your 20s

Earn Money Freelancing:

Earning a steady income stream sufficient enough to take care of your regular needs with no tertiary education to boast about is generally unheard of. Therefore, for most young-adults, looking for other means to supplement that Mc Donald’s serving gig is a must if you plan to make ends meet—eat, pay rent and handle transportation.

But do not be discourage for with youth comes boundless energy and talents you can explore. Therefore, turning your drawing abilities, writing skills or voice-over talent to money through freelancing is a way to augment your weekly pay check. An online visit to freelance market places such as Fiverr or Upwork is all you need to build a second income stream.

Get Creative with 3D Printing:

As revolutions go, the 3D printing revolution has taken most main-stream industries—engineering, architecture, manufacturing and production—by storm. The beauty of this revolution is that with a 3D printer and some digital designs, just about anyone can create art from the bottom of their basement.

Therefore, investing some of your time learning the tenets of 3D printing as well as investing your money on a 3D printer gives you a solid leverage to earn money for life. Currently, there are a plethora of sites offering free 3D digital models you can leverage upon to start your printing career with. Next, putting up your designs for sale on Amazon or any other sales platform will surely increase your chances of earning a respectable income in no time.

Start an Online Business:

Technology and the internet has played a huge role in making the world a global village and the responsibility of monetizing the opportunities they offer falls on your shoulders. There are diverse online businesses one can consider and here are some ideas to get you started.

  • Joining the Bitcoin Revolution—Bitcoin is here to stay and as with all new transaction modes, now is the time to take advantage of the opportunities investing in Bitcoin Yes, you do not have money to invest but here, the term invest means either trading Bitcoins or offering money exchange services to its users via a dedicated digital wallet.
  • Look into SEO—the search engine optimization industry is huge and online organizations are looking for people to help them with developing backlinks and guest posts to grow their business. Becoming proficient with these procedures takes some effort but it’s nothing you can’t achieve with a little effort and free online tutorials.

Social Media Marketing:

Ever heard of PewDePie the Youtube sensation earning thousands of dollars through his channel? Affiliate marketers and even big brands are looking for young vibrant adults to sell their products using the influence they wield on social media platforms.

You too can put some effort in building a following interested in your hobbies and seek diverse avenues such as Google Adsense to monetize your online presence. Although this takes effort, content development and a lot of online socializing, your efforts will eventually be rewarded in the long run.

Donate Your Time:

Charity work is generally looked down on by young adults for they are not plush jobs with 5 or 6 figures salaries. Why it is understood that money is important and actively seeking it is the best way to achieve financial independence, donating your time to the needy or less privileged has its benefits. It truly renews your spirit and invigorates you to pursue your dreams with renewed effort.

These are the 5 timely tips anyone can employ to achieve financial independence in their early youth. The future is yours to mold.

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