Financial planning advice for Gen-Y'ers - KMSP-TV

Financial planning advice for Gen-Y'ers

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Trying to manage finances in your 20's and 30's is tough. Sophia Bera, Financial Planner and founder of Gen-Y Planning.

"So many planners are working with baby boomer and beyond so I wanted to offer a service that was geared toward a demographic that would help me and my friends," said Bera. "There were not a lot of planners out there who worked with young people."

While most adults in their 20's and 30's are in learning mode, saving isn't always a fun thing to do. Bera says it is important to look at where you tend to spend too much.

"It is important to take a look at your spending and track it and cut back in areas so you can use that money to match goals," Bera said.

Student loan debt is also a big part of the financial focus of generation y.

Tips:

  • Tackle private loans first.
  • Pay off those with highest interest rate.
  • Get on right payment plan.

For more information from Sophia her website is genyplanning.com.

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