Generation Z, born roughly between the mid-1990s and mid–2010s, is the first generation to grow up with technology at their fingertips. This has led to a unique relationship with money and financial habits. With the rise of gig economy jobs, skyrocketing student loan debt, and an ever-changing economic landscape, it is more critical than ever for Gen Z to develop healthy money habits. 

Here are some Generation Z friendly tips to get started:

Start with a budget which is the foundation of good financial habits. First, track your expenses for a month to understand where your money is going. Then, set a budget based on your income and expenses. Make sure to include savings in your budget, even if it’s a tiny amount. Many budgeting apps are available to choose from, such as Mint or PocketGuard, which can help make this process easier.

Save early and often. According to Forbes, the average student loan debt in the U.S. is $37,000. This makes it critically important to start saving early and often. It adds up over time, even if it’s just a small amount each month. You may consider setting up automatic transfers from your checking to your savings.

Understand credit because it is an integral part of your financial health and future. First, teach yourself the basics of credit, such as calculating credit scores and the importance of paying your bills on time. Then, start by getting a credit card, which you must pay monthly to help you build a solid credit score for large future purchases, such as an automobile or home.

Invest in yourself, as this is one of your best investments. This can include education, skills training, or starting your own business. The gig economy is growing, and it’s essential to have skills that will set you apart from the competition. If college isn’t an option, consider taking courses or attending workshops to build your skills.

Using technology to your advantage when it comes to money habits can also be essential. Use mobile banking to track daily purchases and help save money in real time. There are numerous apps to help you save money and track investments. 

Starting to build good money habits when you are young can be a game changer for being financially stable as you age. Regardless of your education and employment status, creating good financial habits now can help you create a better life for yourself in both the short term and the future.