The very first thing I can recommend for you is to save now for the future. You can start saving and place your savings into a certificate of deposit or savings account. Right now both CD rates and savings rates are very low but don’t worry interest rates on deposit accounts and mortgage rates are low these days are at historic lows and are bound to increase in the future.

You can also invest in a little riskier place like in stocks or mutual funds. One popular type of index fund, a Standard & Poor’s (S&P) 500 Index fund. This tracks the stock prices of 500 large companies and once you have $1,000 in your savings account move it over to a certificate of deposit.

There is no other investment that will give you that kind of guaranteed return but  it will pass it up since fees that you pay can be quite low because the fund manager plays a limited role so make sure to do all the things you want to do in the future.

The second thing to do is put together a budget.  Find some money to put into savings after budgeting and save, save, save.

The advantage of this type of fund is that it adjusts the balance of your investments (usually stocks and bonds) to fit your age and the number of years until retirement if you plan to retire somewhere around the year 2060 you might choose a 2055 fund.

When you change jobs or think you need some extra cash resist the urge to cash out these accounts. Spend the money sometimes, your employer will automatically sign you up since  the time is now to start a savings plan.

Wven with low savings account rates you still can earn money by having your money make money for you open an Individual Retirement Account (IRA). Your employer might have a retirement savings plan, you can start saving in an IRA but by starting early, you will need to save a lot less in the future.