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You don't need an MBA to learn how to save money and invest in your future.

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Naturally, the more you earn, the more you can stash. sock away at least 7% of your earnings in the beginning, and increase it each year until you're diverting 15% a year.4. place a value on moneyit doesn't buy happiness, but it can certainly make you comfortable. just understand what it's worth. money is what you earn in exchange for your time in some productive pursuit. let's say you earn an hour at your job, and you're considering purchasing a tv for 0. you may calculate that you spend 25 hours, or about 3 days, earning that money. it's worth it, you may think. but that's not an accurate value estimate. if you're single, you're in the 25% tax bracket, so you actually spend about 33 hours earning the net income required to make the purchase. it still may be worth it, but there may be competing demands for that money, such as rent and car payments, not to mention your retirement fund. each purchase represents a trade-off. make these decisions wisely.5. use the credit card sparinglythis tip is also really vital. it's easy to spend now with plastic and much harder to pay later. use credit responsibly. comparison-shop for your card. remember that you'll be relying on your future earnings to pay for today's credit card purchases. and if you keep a running balance, you'll also be paying interest, sometimes at usurious rates. don't fall into this trap. instead, save money to meet financial goals.6. follow the golden rulecontrary to popular belief, the duplicity and craftiness of machiavellian tactics won't really help you survive. instead, they'll engender mistrust in your relationships. treat others fairly, the way you wish to be treated. no one looks good when trying to make others look bad. when you're on the job, avoid gossip. beware that when someone takes you into his or her confidence to point out someone else's foibles, it's only a matter of time before your foibles come to light.7. select your partner wiselychoose someone whose values match your own -- not just where money is concerned, but more importantly, ethical and moral values. get to know your soul mate over the course of at least a year. passion is important, but trust even more so. make sure you are free to be yourself. if you hook up with an angry or overly critical partner, you will be subjected to hostility and may lose your sense of self. conversely, if you're the one with anger issues, resolve them before they poison a perfectly good relationship. learn to make decisions with your heart, along with your head.8. be prepared for the unexpectedsomeday you may lose a job through no fault of your own. prepare today by stashing money into an accessible emergency fund. the easiest way to do this is to automatically divert a portion of your earnings into a savings account in addition to the amount you're contributing to a 401(k) plan or ira.try not to use that 401(k) money for emergencies. it will cost you plenty, between income and penalty taxes. for instance, if you have ,000 in your account and you're in the 25% tax bracket, you'll lose ,500 to taxes, plus pay another ,000 penalty for breaking into the money before you reach age 55. (for iras, the early withdrawal penalty applies up to age 59 1/2, with certain exceptions.) bottom line: your ,000 dwindles to ,500. worse, you will have lost the opportunity for that money to compound and build wealth for your retirement.9. learn about investing or hire help.Retirement »kupicoo/getty imagesmanaging money is generally not taught in elementary school. about 17 states require students to take a personal finance course in high school, but only a handful require testing on the topic, according to the council for economic education.when it comes to money, it's better to learn from other people's mistakes than to make your own. follow these tips when you're young to avoid financial hardship in life.1. go to collegeyou may want to do something that doesn't require a college degree, such as playing professional golf. but give serious consideration to enrolling in college anyway. yes, it's a major investment, but if your parents are unable to help you pay for it, make it happen yourself, even if it means taking out loans. just don't get in over your head; try to borrow no more than the amount you expect to earn the 1st year after graduation. that way you can pay off the loans within 10 years. one way to save on costs: go to a community college first; then transfer to a 4-year university after 2's easier to get a degree when you're young than when you have a home, family and all the attendant adult responsibilities. your earnings potential increases significantly with a college degree -- which will come in handy if your other dreams don't materialize. plus, you will likely experience a love of learning that you will never outgrow.2. find your purposeif you're having trouble figuring out what you want to do with your life, look within. you were born with certain talents and natural abilities. you know which subjects you excel in and which ones you struggle with. choose a career that enables you to maximize your gifts in a way that fulfills you or helps others. as you grow, your career may change along with your desires. but for now, gravitate toward a field that feels like home.3. begin retirement planning with your 1st jobthis tip is so important. if the company you work for offers a 401(k) plan, sign up at your 1st opportunity. if there's no such plan, divert some of your paycheck into an ira. believe it or not, if you're lucky, one day you'll find you are older, so it's best to be prepared. setting up automatic contributions to either one of these retirement vehicles at a young age will help you build wealth painlessly.It's not rocket science; in the beginning you just need to overcome fear and select 1 or 2 good, cheap mutual funds. after you've amassed some wealth, it may be time to hire someone. if you do, you will obviously have to pay for the service. get referrals and then check out the qualifications and credentials of a prospective financial adviser or broker.make sure you understand the fee structure of the services. is it commission-based or do you pay an hourly fee or a percentage of assets or some combination of these fees? ask for a complete breakdown. also, check with the appropriate authority to see if any disciplinary actions have been taken against a certified financial planner or broker before you initiate contact. if you're confident enough to choose your own investments, you might find that going with a robo-adviser is the best bet.10. be thankful for your good fortuneit's not all about money. if you work at it, you will have abundance -- through strong family ties and solid relationships, as well as monetary assets. take some time out each day to reflect on the good in your life. spend at least 1 day a week in a recreational activity or hobby that you enjoy, and take a minimum 1-week vacation annually if you possibly can so you can totally unplug and unwind. again, save for the trip.if you have children, spend as much time as you can with them when they're still young and dependent on you. before you know it, they'll be old enough to get a driver's license, and you'll see less and less of them from that point on.advertisementrelated links:savvy ways to withdraw retirement fundshow to retire at 50: take these 3 steps to freedomhow to retire at 50: take these 3 steps to freedomrelated articles:retire abroad cheaplytop countries for retiringcan you retire at 62?Bankrate wants to hear from you and encourages thoughtful and constructive comments. we ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. comments are not reviewed before they are posted. bankrate reserves the right (but is not obligated) to edit or delete your comments. please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. we do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.

investment ideas for young adults

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This article offers a guide to helping young adults take control of their investments and financial planning.

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Don’t listen to your friend’s hot stock tip – believe it or not, you can like and buy a stock without knowing anything about it…many people do. you’re certain to hear of a few awesome new investment ideas from friends and family, but unless your friends or family can tell you every last detail about a business, they’re investing with less information than professionals they’re competing against. avoid these situations at all cost; there’s no reason to risk money and friendship in the same transaction.Use tax and legal shelters – the 401k and ira are two of the most under-appreciated accounts on the planet. a 401k or ira will shield you from taxes, allowing you to make maneuvers that result in the lowest possible tax bill. additionally, a 401k and ira are like financial bomb shelters in most states. while someone can sue you out of house and home, 401ks and iras have up to millions of dollars in protection in most states. no one can take from a retirement plan but you!Keep a level head, no one else does – investment portfolios are built for goals that may be years and even decades away. what happens between the start and the end won’t always be rosy. some years are great – 2012 was a great year for stocks – but 2008 was absolutely awful. while it’s not always easy to keep your sights on the long-run, those who have the stomach to stick with it even when it looks like the sky is falling log the best performing portfolios.Look at the big picture – your investment portfolio is a piece of a complete financial pie; don’t look at it in isolation. for example, someone who has a large credit card balance should pay it off before investing; the returns are that much better. likewise, a young adult with student loan debt should consider paying it off before investing in bonds – the effect is the same, or even better when bond yields are this low.

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The new companies began with the idea of advising young adults on their finances, Your Money | Financial

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What's the best financial advice for young people just starting to make money? The Wall Street Journal put this question to The Experts, an exclusive group of industry and thought leaders who engage in in-depth online discussions of topics from the print Report. This question relates to a recent article that discussed advising young people financially and formed the basis of a discussion in The Experts stream on Wednesday, April 24.

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Financial advice is only useful if it's relevant to your own particular situation. The right move for someone twice your age may be totally wrong for you, while your best financial move may

Money Under 30 provides free advice to help you make better financial Money Under 30 provides free advice

Learn how to prioritize your debts and make smart investment decisions as you enter the working world.

So you want to learn more about personal finance but don't know where to begin? finding information is not a problem. the amount of advice out there is overwhelming, especially when you're first starting out and aren't sure exactly what you're looking for -- or what you're doing. the trick is to find those gems of wisdom that'll teach you the basics of money management without leaving you feeling like you were hit by a bus. here are five great books that make finances simple. whether you're looking for a basic guide to navigate your finances, a self-help book to start investing or a motivating tool to finally take your money habits seriously, there's something for every beginner here.Most of the personal finance books for young adults are about how to get started on the right foot. which is great, but what if you've already taken a misstep? this book is written by two self-described money misfits who spent their twenties piling up credit card and other debt, only to find their lives were being controlled by their poor money choices. "death by plastic," anthony and cluck call it, and it wasn't pretty. debt-free by 30 is their first-hand tale of how they dug themselves out of the hole and got on the path to financial freedom. the job wasn't easy, as the authors are quick to point out, but it was worth it.I read it cover to cover in about two hours and actually understood what it said -- without my eyes glazing over once. it's sprinkled with witty anecdotes, pop culture references and comic strips to keep the mood light, even though it discusses such heavy-weight topics as choosing a health insurance plan, filling out tax forms and investing your money. it also covers lighter-yet-important subjects, such as how to avoid looking stupid at a business meal, what to wear on your first day of work and what to look for in a good apartment.But just because it's comprehensive doesn't mean it'll bog you down. get a financial life is surprisingly readable, yet works well as a reference, too. chapter one is a 12-page summary of the entire book - "a cheat-sheet for time-pressed readers," kobliner calls it -- imparting quick financial wisdom on the book's entire range of topics. then you can read the individual chapters for more information. plus, the end of each chapter is capped off with a cliffsnotes-type summary to make sure you didn't lose anything in translation.