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Making Yourself Financially Secure as a Millennial

Financial security is a common goal amongst millennials. After all, we all want to make sure that we have enough money for college, a house in the future, and other major life events. However, actually building financial security can be difficult. That’s why in this article, we’ll talk about how you can make yourself financially secure as a millennial.

Identify sources of income and Create a budget

The first step to becoming financially secure as a millennial is identifying your sources of income and creating your personal budget. Some may want to start saving money but don’t have a job.

Some potential jobs for high school students or other early savers could be tutoring, babysitting, house sitting, or even starting a personal small business. Minor services like window cleaning and lawn mowing can actually make you a solid amount of money, especially if you’re starting out and really willing to work.

Once the income is steadily coming in, you can start thinking about your budget.

Creating a budget is a simple process and is crucial to becoming financially secure as a millennial.

Once you have been making money for a short period of time, think about how much you’re going to spend, save, or invest. Each of these will vary from person to person, but my personal budgeting strategy is a 60-30-10 system.

60% of all money I make will go directly towards rent, groceries, and other essentials. 30% will go directly into investments, some being in the stock market, others in ETFs.

The last 10% goes directly into my bank account to sit. I take this action to ensure I have enough to cover my needs and some wants and create an emergency fund. After a few months of following this pattern, I’ve been able to save plenty to be prepared for future issues.

While the 60-30-10 system works best for me, something else may work better for you. Read about budgeting and test out to see what works best for you. Developing a clear system has been key for me becoming financially secure as a millennial, and it can help you too.

Live Frugally

The next step to becoming financially secure as a millennial is to live frugally. This doesn’t mean that you have to be living off of 20 cent noodles the whole time; it just means that you spend your money wisely.

Frugality starts with identifying wants vs. needs. Always cover things you need before spending on wants. Once those are identified, consider how you can save in both aspects.

Your savings could take the form of making trips to different grocery stores to buy cheaper produce or other goods. If you like to shop, you can look for deals online or download software to alert you about discount codes or clearance sales.

Impulse Spending

One big factor that you may not expect to be whittling away at your budget is impulse spending.

Small purchases here and there can really rack up to make a dent in your budget. It’s totally fine to do here and there, but you don’t want it to become a daily habit.

The best way to avoid impulse spending is to create a list of what you’re buying and stick to it. Then, if you have enough money to spend on an extra pair of jeans or some snacks, go for it! Just remember that you’ll need to save extra next time.

Invest in yourself and your future

The next step to making yourself financially secure as a millennial is to invest in your future and yourself.

Investing in yourself means taking time to better yourself and your skills. This could be taking online courses or doing work that pays you less but puts more on your resume.

In the future, companies will want interns or employees that have hard, technical, or analytical skills. The best time to develop these skills is now, as it’ll pay off in so many ways in the future.

Finally, financial security is a patience game. You may want to save and spend tons right now, but having cash in your back pocket for the future will help you stay prepared. As you play the patience game, you’ll be ready to make more with each new internship or position.

Investing in yourself means that you invest in the person you are and the person you want to become.

Identify the skills and certifications you want to acquire in the future, and make a plan to get them. Many free online certifications can be used down the line or even to get you a job internship.

Make a LinkedIn Profile

Consider making a LinkedIn profile to see what jobs are available near you and what employers want in candidates. Keep up your LinkedIn Profile from now on.

Investing in the future means developing crucial skills, even if that means you make less money right now. Even if you aren’t sure exactly what you want to do in the future, getting a job analyzing data or helping in real-world environments will take you far.

Celebrate your victories

The last step in making yourself financially secure as a millennial is celebrating the victories you’ve made.

When you set goals, you want to make sure that you enjoy the process, and celebrating even the small victories can help you avoid burnout and will motivate you to elevate to the next level.

If you have the funds, this can be as small as buying some ice cream on your way home or as big as buying a new gaming console. In addition, these small celebrations will help you mentally in the long and short run.


Making yourself financially secure as a millennial may seem like an arduous process. However, as you start early and develop crucial habits, you’ll be able to see your bank account slowly grow and see your resume grow as well.

Keep these good habits and learn throughout the process, find what works for you. As you do, you’ll become the person you want to be, and in the future, you will be glad that you put in all this effort.

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Freelance Writer
Matt Rowe is currently working on his Bachelors Degree in Marketing. He grew up in the heart of Silicon Valley where he was able to network around some of the top technical minds. He lived blocks away from Steve Jobs and was able to witness the transformation of the Bay Area to one of the strongest technical scenes on the planet.

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