The millennial generation has seen a lot of change in an extremely short time span, including profound economic fluctuations. As a result, many millennials find themselves constantly worried about finances as they grapple with heavy debts, loans, and costs of living at a young age. There has perhaps been no better time for a generation to turn into sharp financial planners, not only to secure their present but to preserve their future. Below are some of the top money planning tips to utilize for the millennial generation.

Still Go for Your Degree

Affording a college education has somehow never looked worse than it has now. With incredibly high tuition and boarding fees across the U.S., it seems that only those who are fortunate enough to come from a wealthy background can achieve a degree. This thinking has stopped plenty of millennials from pursuing their education, which ends up harming them more than helping them as jobs amp up their education requirements.

If you find yourself unsure of whether to go for a degree or not, consider your financial options. These days, using a private lender to secure a student loan is much more popular than dealing with often overly complex federal loans. To secure a loan from a private lender, you use a student loan repayment calculator, so you know exactly what you’ll have to pay when it comes time for repayment. You’ll enjoy a lower interest rate, a more flexible repayment schedule, and benefit from graduating with a college degree.

Start Saving for Your Retirement

Many individuals, regardless of their generation, make the mistake of waiting until they are middle-aged to begin saving for their retirement. As a result, they can lose out on tens or hundreds of thousands of dollars that would have been able to give them a healthy and happy retirement. By starting to save in your 20s or 30s, you are guaranteeing that you will enjoy a much cushier retirement. You can set up an IRA with a financial advisor to get started, investing a little money each month that will grow over time with a good portfolio.

Own Your Credit Score

There is a common misconception that checking your credit score will harm it. While hard credit checks can affect your score, you are entitled to one free credit report per year from each of the three nationwide credit agencies. Checking your credit will give you a good understanding of where you stand and what you can do to improve your score. If your score could use a boost, you can undergo several different strategies. You can build a better repayment system to pay back any debts, keep your balances low, and fix any disputes or errors.

Cut Back on Unnecessary Spending

Do you really need five different streaming services? Or a Starbucks coffee every day? Do an audit of your spending every month to see what you could cut back on. After all, it’s the little costs that end up costing you the most.