money management

Top 3 Money Management Trends For Young Adults

As the world continues to change over time, so does the way people handle money. Social and economic conditions might bring about these changes, and obviously, money today is not the same as before. Nowadays, younger people have become more financially conscious. The toxic economic trends and the global COVID-19 pandemic made them concerned about either getting sick or running out of money.

Sure, you can start saving money by regularly tracking your expenses, opening up a savings account, or investing in financial products. Although most people have different priorities, the ultimate goal is to have stable financial security. When it comes to saving practices, many young people have started following these trends to make saving money more gratifying:


Financial products like investment insurance are now considered a must for working young adults. It’s relatively cheaper when you start young, and it’s an excellent way to secure your future while allowing you to access your savings in case of emergencies. One essential resource that young people have is time because it will enable them to build long-term wealth.

For first-time investors, you can invest in a mutual fund where your money gets pooled with other investors’ funds like the stock market or bonds. It assures you that your money will grow since professional fund managers oversee your investments.

Another investing trend gravitated toward millennials and Gen Z is the use of online investment platforms. They are more convenient, affordable, and promise better returns. However, investing is not always a guaranteed ticket to success. Experts recommend diversifying allocating your funds across different investments to even out the risks.

money management

Saving Challenges

Nowadays, almost everyone uses social media to find beauty tips, trending recipes, viral videos, and even money tips. About 56 percent of gen Z and millennials say that they turn to social media for financial advice. Some even admitted to taking personal financial advice to a stranger online.

Naturally, most of these tips will become popular, like the 52-week money challenge. The idea is to save weekly and incrementally until you reach the end of the year. You’ll need a goal to keep you motivated, any container you can use as your grownup piggy bank, and a schedule of your savings. Here are some tips to accomplish the challenge:

  • Find a Partner: You can ask a friend or family member to do the challenge with you. If you feel like spending your money, you can ask them to keep it to avoid mindless spending. Also, having a partner is an excellent way to remind each other if a week is coming up.
  • Look Forward to the End Result: Envision how much you can save at the end of the challenge and use that as your motivator. Write it down and place it somewhere visible to remind yourself that you’re getting closer to your goal.
  • Adjust Your Budget: Once you start this challenge, adjust your budget depending on your weekly system. You might need to avoid other expenses when the amount you need to save starts increasing.
  • Avoid Missing a Week: Failing to save in a week will divert the whole system. Try your hardest to focus on your goal, and remember that you need to save twice the amount if you miss a week. It can cause a domino effect on your allocated budget for that week and the following months.

Cryptocurrency Savings

Due to the rise of different cryptocurrencies and “play-to-earn” online games, young people have also begun investing in cryptocurrency, aside from traditional money. This digital currency is more convenient as it doesn’t require physical presence, travel, long lines, or documentary requirements. Depending on your platform, it also serves as an investment with various terms and withdrawal limits.

Crypto might seem a bit similar to traditional investing in that you need to know when to buy and when to sell. However, keep in mind that a crypto savings account does not operate like traditional banks, which means it can be vulnerable to cybersecurity issues. Nevertheless, as long as you only invest and understand the risks, cryptocurrency investments are a good source of passive income, have high returns, and feature additional incentives.

Proper handling of your finances is one essential skill you can learn, especially as a young adult. Finding creative ways to save and grow your money will make you wiser in your spending habits over time. Create a budget, avoid debts, and invest what you can to be prepared in whatever crisis you might experience. Follow the money management tips in this post to help set you up for financial success.

Scroll to Top