The top financial advice for young adults is keeping track of monthly incomes and expenses. It is a crucial skill. According to research, 23% of Americans do not keep track of their monthly expenses. This seemingly insignificant event has a wide range of unanticipated consequences, including debt, financial burden, family conflicts, and concerns about the present and future.
If you do not understand your incomes and expenses, you can easily find yourself in a situation where you can use as much as you want and still not have a surplus. Remember that what matters most is not how much money you make, but how much money you have in your savings accounts.