Procrastination is okay when you're talking about cleaning up your bedroom, but when it comes to personal finance, delaying action can be your undoing. If you plan to become a hermit, vow to never have a partner or spouse, or avoid having dependents by any means necessary, then you may skip this section.
Right now is the youngest that you'll ever be, and the lowest that you'll ever be charged for life insurance.
If you're planning to have a family or take care of your parents down the road, buying life insurance when you're single and healthy in your 20s or 30s allows you to effectively lock in a low rate.
According to a report from the National Association of Colleges and Employers, class of 2014 college graduates at the bachelor's degree level have an average starting salary of $48,127. This means that the average starting salary of a liberal arts and humanities major could potentially be bumped up to between $40,534 and $42,464, if only the job applicant were willing to negotiate.
By investing in funds with low expense ratios, such as index funds, you get more bang out of your retirement buck. Smoking is one of the single worst thing that you can do to your body… and your wallet. In 2015, the American Cancer Society estimates that you spend $35 in health-related costs per pack of cigarettes.


According to a study from Wallethub, smoking costs Americans between $1 and $2 million over a lifetime, depending on your home state.
Used cars polluted with secondhand smoke have a resale value about 7% to 9% lower than comparable cars without such pollution.
There are certain key financial decisions that you need to make today — otherwise you may have a hard time catching up tomorrow. If you wait 20 years to purchase life insurance, the cost can become prohibitively expensive — if you can qualify for plan coverage at all. At the lower end of the salary range, liberal arts and humanities majors have an average starting salary of $38,604, and at the higher end, engineering majors have an average starting salary of $64,891. It turns out that more than 60% of Millennials don't negotiate salary when receiving their first job offers. To show you how important that initial salary bump is, let's imagine that you were to take those increases of $1,930 (5% raise) and $3,860 (10% raise) and invest them for 20 years in an investment account with a 5% rate of return compounded annually.
You need to start saving for retirement today, or you'll be kicking yourself for not doing so 20 years from now. This is a scary number that becomes even scarier when you realize that the old target of a $1 million nest egg is no longer enough.


When your entire family depends on your income to survive, you need to plan to provide for them in case of your absence. According to calculations from the Social Security Administration, 25% of Americans aged 65 or older will live past age 90, and 10% will live past age 95. This is free money that could be in your retirement account, but only if you were meet the matching requirements of your employer's retirement plan.
This means that a smoker would pay up to $6,000 for the same annual coverage that would cost just $3,000 to a non-smoker. If you're the sole breadwinner, how do you expect your dependents to cover the remaining balance of the mortgage, for example?
A survey of 700 employers reveals that three-quarters of employers typically have room to increase their salary offers by 5% to 10% during negotiations.



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