As Millennials we get a bit of stick when it comes to money- we’re stereotyped for being frivolous, having no savings and not thinking of the future. However, many of us in the Millennial age group are now reaching the stage in our lives where we want to feel settled, and being secure with money is a smart way to do that. Here are some things to think about. 

Get out of debt

Getting out of debt is one of the smartest ways to futureproof your finances. Many of us can find ourselves in trouble with money when we’re younger- things like store cards, credit cards, payday loans and other kinds of debt are easy to fall into. Do yourself a favor and make paying your debt a priority, the quicker you get it paid the less interest you’ll pay overall. Sell things you don’t need or work extra shifts to raise money, or if the debt is out of control, speak to a debt company or charity who will be able to advise you on the next steps to take. Whatever you do, don't bury your head in the sand, tackle the issue head on and get it paid up. 

Work out a budget

Everyone needs a budget, it doesn't matter if you earn a little or a lot. It doesn’t matter if you have a lot of expendable income each month or hardly any- a budget puts you in control. It ensures that all of your bills and important expenses are paid and covered before you start spending on anything else. You could use a budgeting app, software or just write things out in notepad. 

Automate your bills

Speaking of bills, a smart way to pay them is to get everything automated. You can do this by opening a new bank account which is only ever used for bills. Go through every company you pay each month, and set up a direct debit to come out of this account. Then every time you get paid your wages, make one transfer to this bank account. The bills will then come out themselves, you only need to make one payment each week or month instead of many. Put a little extra money in to start with as a buffer, but once everything starts coming out the system will run like clockwork. If for example, your bills cost £800 a month, you’d either transfer £800 out of your monthly payment or divide this into four and pay £200 a week if you’re paid weekly. It’s a very easy system, as soon as your wages are paid you can make this payment and the money is in a separate account that you can’t accidentally spend back onto.

Consider working around having children

As well as getting your finances sorted in the here and now, you’ll want to plan for tomorrow too. One issue many women have to consider is how they’ll earn money around having a baby and raising a family. If you know this is something you want to do in the future, embarking on a career that allows flexibility is a good idea. You could go self-employed so you could work to your own schedule, or look into becoming an entrepreneur. You could start a home business, a blog or become a freelancer which earns you money now and would allow you to work around other commitments later on too. Starting early and building up your venture means it’s turning a good profit by the time you really need it.