STARTING OUT ( 20-30 YEARS)
GROWTH STAGE

You may have just completed college and have landed your first job.  You could be thinking of moving out of home, starting to pay rent on your own or to pay off your college loan. At this stage, you have few financial responsibilities.

Goals

*Paying for further college education
*Paying off college loan
*Building savings
*Paying off debt
*Building a good credit history
*Buying a car or home furnishings

Plan of action

*Make a financial plan and a budget
*Pay of debts for example student loans
*Build an emergency fund to cater for life’s emergencies
*Start saving towards a goal
*Start investment
*Protect your belongings with insurance
*Start saving towards retirement
*Create a living will – it helps your family make decisions if you are indisposed according to your wishes