For young adults, making smart financial decisions can be hard because most of them are about saving for the future or planning for retirement, things that can feel impossibly far away for recent college graduates. But whether you just walked the stage or are just now starting to take some online classes, here are some important financial tips to help you spend wisely and plan ahead.

Basic Saving

Whether it’s holding onto more of your money or spending it in different ways, there are plenty of ways to save.

1. Take 10 percent off the top: Take 10 percent out of every paycheck and put it into savings. You can split it further into long-term and short-term savings accounts, but the key thing is to take that 10 percent off the top, before you spend anything else. You’ll be amazed at how quickly your savings starts to grow.
2. Start an emergency fund: Put some money every month toward an emergency fund that you can use for things like hospital trips or car repairs.
3. Cut the excess: Sure, it’s nice to have a Netflix subscription or premium cable channels. But if you really want to see savings, you’ll eliminate those luxury perks.
4. Consider the options: Paying yourself first by taking 10 percent off the top is smart, but putting that money to work in a higher-yield savings account over the long-term is even smarter. Talk with your banker about how to get the most from your money.
5. Sack it: Do you eat out for lunch most days? Time to trade that habit for a brown bag lunch. You can save hundreds of dollars a year by preparing your midday meal at home and taking it to work with you.
6. Hop a bus: This might be easier for people in big cities, but public transportation is still a great way to save money by cutting down fuel expenses. Plus you get to help the environment.
7. Don’t use credit cards: One of the best ways to save money is to eliminate all — each and every one — of your credit cards. Just don’t use them, period. Pay off the balances and you’ll be floored at how much you can save when you don’t have to pay monthly minimums.
8. Shop for generic brands: When you’re at the grocery store, buy generic brands of products like soda and medicine. You get the same ingredients for a fraction of the cost.
9. Shop in bulk: Consider joining a warehouse club like Costco or Sam’s Club. The cost of the annual membership can be easily offset by some of the savings you get from buying in larger quantities.
10. Set your thermostat higher: I know summer can be brutal, but setting your home’s thermostat at a higher degree will keep the air conditioner from running all day in a futile attempt to turn your house into a refrigerator. Buy a couple of oscillating floor fans to help with circulation.
11. Change those bulbs: It sounds like a little thing, but it’s not: Switching to energy-efficient light bulbs can save you hundreds, especially since they last years longer than traditional bulbs.

Retirement Planning

It’s never too soon to start making plans for your future.

12. Set a date you want to retire: When would you like to retire? When you’re 65? 60? 70? Picking a date is the first step in planning because it sets a goal and will let you figure out what it will take to reach it.
13. Start saving immediately: Waiting just a few years to begin storing away money in a retirement fund will lower your eventual savings by tens of thousands of dollars or much more. Jump on the opportunity today.
14. Set up automatic investments: Have part of your paycheck automatically transferred to your savings account to make sure it gets done.
15. Find out how your employer can help: Many employers that offer 401(k) plans will match your contributions (up to a certain amount) every year. Ask how much your company will chip in.
16. Start a Roth IRA: A big benefit of a Roth IRA is that contributions you make are taxed, meaning you don’t have to pay taxes when the money is withdrawn in the future. Talk with a financial advisor for more information. These are great tools.
17. Adjust as necessary: As you save more and grow, you’ll be able to revise your savings plan based on changes in income and other situations.

Investing

Investing can be a scary concept for people who don’t know much about it. Use these tips to familiarize yourself with the process.

18. Set clear goals: Why are you investing? Is it for short-term or long-term gain? What do you hope to accomplish? Ask yourself these questions before parting with any of your money.
19. Consider a target-date fund: A target-date fund automatically changes its risk set-up as you age based on your planned retirement date. This is a good pick for first-time investors.
20. Listen to your gut: Before investing, take a while, or even a night, to carefully consider the move. If the thought of it keeps you up and distracted, and if it just doesn’t feel right, don’t do it.
21. Avoid "too good to be true" situations: If an opportunity seems too good to be true, it probably is. Don’t over-extend yourself or wind up in a hole by chasing fantasies. Invest wisely, with planning.
22. Take investing seriously: Not to sound overly dour, but investing isn’t a game or a hobby. It’s a calculated financial move designed to yield a net gain. Approach it with caution and intelligence.
23. Understand fees and commissions: A fee is a flat rate, while a commission is a percentage. Generally, try to pay fees on big cash amounts and commissions for smaller ones.
24. Brush up on the Efficient Market Theory: Basically, this states that stock values are perfectly priced when you factor in all possible known information, so that the only way to really make big money is to take risks. Knowing this will help you plan those risks accordingly.
25. Don’t be greedy: In addition to the moral issues, greed is a bad financial choice. Just because you see someone making money through a particular investment doesn’t mean it’s a smart one to make. Always, always, always do your homework.
26. Consider overall value: In addition to a stock’s price, try to get a sense of its true value and how that might fall or rise with time. This is the true indication of a stock’s potential.
27. Get lots of advice: One of the biggest mistakes you can make is thinking you don’t need help, especially as a beginner. Talk with advisors and trusted friends with investing experience before starting out.
28. Don’t believe the hype: If you hear about a "hot tip," ignore it. There’s no such thing as a sure winner or inside scoop, and believing there is will just get you burned.
29. Be prepared to invest time and money: In addition to the money you’ll want to invest, you should prepare to spend plenty of time studying and researching the market and spend money on software or online memberships to trading sites that will let you invest.
30. Deal with the truth: If you’ve got a losing stock on your hands, no amount of wishful thinking will turn it into a winner. Don’t be afraid to confront the reality of the situation and save your money while you can.
31. Don’t forget taxes: Know how much taxes are required for different investment choices, and when it’s advisable to pay them. Taking tax policy into account before you invest ensures you won’t have any nasty surprises.

Buying a Car

It’s great to have a new set of wheels. Follow these tips to ensure you get a good deal.

32. Look at used vehicles first: Most of the time, you’ll be able to find a great used car that meets your needs and doesn’t break the bank.
33. Do your homework: It doesn’t matter what car you think you need, or what you think will be best for you. In order to get the truth, research your desired make and model to see how it performs over time and how much you’ll have to spend on repairs.
34. Take a mechanic with you: Avoid getting a raw deal by having a friend with automotive training accompany you to the lot and help you weed out the lemons.
35. Get the Blue Book value: The Kelley Blue Book is an invaluable resource and will let you know what a car is potentially worth.
36. Shorten your financing period: You can improve your credit score and own your car sooner if you can afford to finance for, say, 48 months instead of 60. It’s worth it.
37. Drive safely: In addition to, you know, keeping you alive, driving safely will lower your insurance premiums.
38. Set a budget: Figure out what you can afford for monthly payments before you even start shopping. This is the best way to make sure you don’t sacrifice too much to get a car.
39. Get multiple quotes: If you’ve selected a make and model, call around to various dealers and check online to see what the price range is, which will give you a big advantage in negotiations when it’s time to finally buy.
40. Get your financing settled in advance: This is extremely important. Getting financing through a dealer can often add time and cost to the buying process, but if you get your financing taken care of in advance, you’ll be on much sturdier ground when it comes time to decide what you’ll pay.
41. Keep an eye out for special events: Dealers tend to offer better deals on cars when they’re under pressure to get rid of old stock so they can make room for new. These "events" can add up to major savings.
42. Always be willing to walk away: This is your money you’re spending, so don’t think you owe the dealer anything. If the offer isn’t exactly what you want, walk away.

Buying a Home

Next to choosing a spouse, buying a home is the biggest decision you can make, so use these tips to guide you through the process.

43. Research government-backed loans: Although they don’t go directly to consumers, they do help lenders cover the risk of the loan, which can have a positive impact on your interest rate.
44. Always get an inspection: Never, never, never buy a home that you haven’t had inspected by a professional. You need to know what you’re getting, and what might need to be repaired down the road.
45. Focus on the house: Don’t be discouraged if you don’t like the decor. Take a hard look at the layout and foundation to get a better idea of whether to invest in a particular home.
46. Use your agent: Relying on an agent for help can be a great way to save some money, since he or she can help you navigate the market and get the best deal possible.
47. Don’t over-invest: One conservative rule of thumb for buying a home is that your payment on a 15-year mortgage shouldn’t be more than 25% of your take-home pay. This is a strict way to go about things, but a good way to save money.
48. Work to pay off your mortgage: Even if you wind up with a great interest rate, it’s a smart idea to work hard to pay off your mortgage as quickly as possible.
49. Start saving before you shop: It’s not uncommon for sellers to ask for as much as 20% of the purchase price as a down payment, so start saving now for the home you want to buy in the future.
50. Build a fund for miscellaneous costs: The cost of buying a home is always more than you think it will be, thanks to closing and other costs. While you can often roll the closing costs into the mortgage, miscellaneous items like application fees and appraisal costs will need to be covered in cash. Be prepared to spend several hundred dollars here.