5 Money Moves Millennials MUST Make in 2024 (and Beyond!)


Hey, lovers of avocado toast and student loan conquerors! I am JV, a millennial who got adulting figured out without selling my soul to business bosses. Yes, we exist! I managed to go from financial stress and ramen-fueled nights of paycheck-to-paycheck barely keeping my head above water, through some serious lessons learned to achieve the goal that I set forth.

5 Money Moves Millennials MUST Make in 2024 (and Beyond!)
5 Money Moves Millennials MUST Make in 2024 (and Beyond!)

We all get it, do we? If avocado toast tastes good, it won’t pay for that dream vacation or your comfortable retirement. With surging inflation, student loan demons, and a housing market that appears to play in another solar system — the future finances can feel like a five-alarm fire. But here’s the good news: it doesn’t have to be.

Put away those dismal headlines and tap into the power of positive financial planning! Waiting for the magic money fairy in this economy is about as reliable as predicting when there will be a new TikTok dance trend. Millennials with avocado-wielding, side hustle-managing ways should take charge of their finances. Why? Because in this game, you think ignorance is bliss; it’s a one-way ticket to ramen island.

So, get rid of the FOMO in you and bring out your inner financial warrior. It is not just about surviving 2024 but thriving in the years to follow. So, buckle-up millennials because I’m about to throw out the 5 money moves you MUST make to dominate your finances and build a future that is avocado toast AND early retirement friendly. Trust me, your bank account (and future you) will appreciate it.

The 5 MUST-DO Money Moves:

1. Debt Demolition:

Remember that sick feeling of viewing your student loan statement? Yeah, me too. Developing debt, especially the leviathan type that millennials are burdened with is like a forever guest who consumes all your avocado toast and never cleans up after himself or herself. it’s stressful, agonizing, and simply holding you hostage from your monetary dreams.

The average millennial graduate carries $41,951 in student loan debt (source: CNBC, https://www.investopedia.com/student-loan-debt-2019-statistics-and-outlook-4772007).

But wait debt-slaying millennials! We can rebuild our financial empires! First, know your enemy: List all your debts, with respective interest rates and minimum payments. Knowledge is power, people! Next, choose your weapon: There’s no one-size-fits-all plan to repay your debt, so check what you can do. Attack high-interest debts first with the snowball method to consolidate for lower interest rates.

“The only person you are destined to become is the person you decide to be.” – Ralph Waldo Emerson

Budgeting is your battle armor: Take note of your expenses and cut those that are unnecessary. This free app that you downloaded but never opened? Delete it. That daily latte habit? Perhaps opt to use oat milk at home. Saving every penny is like scraping a dragon scale.

Side hustles are your secret weapon: Unleash your inner entrepreneur! From pet sitting to freelance writing, do something on the side that ignites your interests and bank account. Throwing every additional dollar that goes towards taming that debt dragon is a victory holler.

Remember, debt freedom is not only about numbers it’s all about the concept of being free! Picture yourself no longer worried about the minimum monthly payments and welcome guilt-free avocado toast, with some extra guacamole. You deserve a future where you have money, and your money works for you. So Millennials, pick up your financial sword, and let us slaughter these debt dragons.

2. Investing Ignition:

So millennials, let’s be honest: sometimes investing sounds like a club only suits and spreadsheets are welcome. Here’s the deal: time is your ally in the investment field. You start earlier and magic compound interest does its thing, taking pennies in the beginning into mounds of cash – although not literally; keep your avocados where they belong at first.

Over the past 20 years, the S&P 500 has averaged an annual return of 10% (source: Investopedia, https://www.fool.com/investing/how-to-invest/index-funds/average-return/).

But hold on, you exclaim the stock market is a scary beast jargon and charts riddle your brain like a TikTok dance challenge gone wrong. Fear not, young Padawans! We are present to unwrap those scary terms and help make investing easy, even if your knowledge about finance comes by way of memes and TikTok.
Forget Wall Street sharks and penny stocks. So we are talking about low-risk, age-appropriate investments such as index funds. Consider them sets of assorted companies, similar to a charcuterie board from the stock market. 

“The best time to plant a tree was 20 years ago. The second best time is now.” – Chinese Proverb

Rather than just investing in one fancy sausage, you invest throughout the entire board while smoothing out your landfall with market rises and falls. And guess what? You don’t have to get a high-level broker or millions of dollars to start it. Robo-advisors are your friendly investment droids that automatically guide and control the portfolio, according to what you want to achieve or how much risk should be taken. All you require is a smartphone and some dollars lying around, then off you go!

Now, let’s address the elephant in the room: fear. You may be afraid of losing cash, the next bear market, or one wrong move and being without a home living in a box…those memes about people holding up cardboard boxes. But here’s the truth: investing is not a shortcut to being rich, it’s about laying a seed for the future. And even if there are some bumps along the way, history tells us that in the long run, markets always go up – like a phoenix rising out of avocado toast crumbs.

Think about your future saying thank you for all those early dollars that bloomed into a comfortable retirement, snooping around the world, or even an avocado-covered plantation (I mean organic of course). Investing ignites the possibilities, of millennials. Do not miss the ride!

3. Emergency Fund Fortress:

“Never depend on a single income. Make investment to create a second income.” – Warren Buffett

Picture this, millennials: if your car coughs its last dying breath on the road or your fridge sings a bittersweet final farewell, or when the roof takes an unexpected skydiving leap. That avocado toast appears more like a financial obituary than the delightful brunch.

Well, this is why the Emergency Fund Fortress should be the foundation stone in any millennial’s financial kingdom. It’s your moat against life’s unexpected storms, it puts the wet blanket of financial anxiety out before they can even start stirring a potful or instant ramen and hence keeps you safe.

A recent survey found that 39% of Americans have less than $500 in savings to cover unexpected expenses (source: Bankrate, https://www.bankrate.com/personal-finance/personal-finances-outlook-survey/).

Sure, saving up might feel like climbing Mount Avocado-more-Everest, but here’s the secret: slow, steady steps take big peaks. Have a small goal, such as could live for three months. Then, unleash your inner financial ninja and employ some sneaky savings strategies:


Set it and forget it! Automatically transfer money from your paycheck to go directly into your emergency account. Treat it as an inescapable avocado tax… though much less sour and considerably more advantageous to your pocket.

Expense challenges:

Turn saving into a game! Try to have a no-spend weekend, cancel your daily latte, or be the best bargain hunter in town. Every saved penny is a brick in your emergency castle.

Sell some stuff:

Use those unused relics of life before the pandemic and convert them to cash. Might be surprised what that barely-used exercise bike sells for online (but don’t ruin it by eating avocado toast).

The beauty of the Emergency Fund Fortress you have built is not just the security that this gives in financial terms. It’s that feeling of security, the fearlessness to welcome life’s changeups. Consider what it would be like to have a car break down without the sinking feeling of credit card debts. Imagine walking down a leaking roof with the assurance that you are covered under your financial umbrella. Avocado toast becomes even more delicious, flavored with the sweet aroma of financial readiness.

So, millennials do not let those unexpected storms stand you by surprise. So brick by brick, build your Emergency Fund Fortress and observe that mountain of financial anxiety crumbles like yesterday’s toast. The next move, Retirement Reality Check is tackled because believe it or not Dream Beach Retirement isn’t as far away as you may think. Well, you better prepare to have the time of your financial life.

5 Money Moves Millennials MUST Make in 2024 (and Beyond!)
5 Money Moves Millennials MUST Make in 2024 (and Beyond!)

4. Retirement Reality Check:

Hold up, millennials! Before you dismiss retirement planning as something your grandparents do while sipping iced tea in Florida, hear me out. This ain’t your grandma’s retirement! Let’s bust the myth that planning for your golden years is some distant, dusty concept reserved for old folks in rocking chairs. The truth is, early retirement planning is your secret weapon to unlocking a future filled with beaches, adventure, and maybe even a personal avocado island (complete with a dedicated guacamole chef, obviously).

Here’s the magic ingredient: compound interest. Think of it as your financial godmother who waters every dollar you save with her fairy dust. The sooner you begin saving, the more time that fairy dust has to do its magic – turning those initial dollars into a mountain of cash at retirement. It’s like watching your potted avocado tree grow into a thriving financial forest, ripe for powering your dream retirement.

But how do we millennials, subsisting on ramen noodles and side hustling navigate our way up this retirement mountain? Fear not, young adventurers! We’ve got this:

Start small, but start now:

Even as little as $50 a month invested steadily for years can become like an investment king’s chest of gold during retirement due to the power of compound interest. Every avocado toast you’ve skipped becomes a little bricklaying the pathway to your paradise.

Embrace those employer-sponsored plans:

Many firms provide matching amounts to your retirement savings. It’s free money! Don’t overlook this financial force!

IRAs are your retirement BFFs:

There are various flavors of Individual Retirement Accounts some with tax benefits. Research the alternatives and identify one that aligns with your financial aspirations (and avocado addiction).

Online tools are your financial compass:

Avoid being lost in the retirement planning forest! Use online calculators and tools to come up with an estimate for your needs and plan a personalized savings scheme.

“Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” – Albert Einstein 

Retirement planning is not just a numbers game, it’s about freedom. Picture yourself escaping the corporate treadmill and embracing a life filled with passion projects, exhilarating travels to exotic lands, or waking up just in time for your morning cup of coffee without having been jarred out of sleep by an alarm clock screeching you back into reality. Planning at the earliest time makes it a reality and not some pie-in-sky brochure of retirement homes.

Fact: Starting to save for retirement at age 25 instead of 35 can lead to 30% more in accumulated assets by retirement age (source: Vanguard, https://investor.vanguard.com/investment-products/mutual-funds/target-retirement-funds).

So, kick FOMO to the curb and embrace the YOLO mentality (Yes, you Only Live One Time but also You only live one retirement so make it EPIC). Millennials, take back control of your future and start building that retirement mountain one avocado toast at a time.

5. Financial Flexibility Frenzy: Unchain Your Inner Side Hustle Superstar!

Whoever says millennials are trapped in the 9-to-5 rat race? We’re the generation that came up with avocado toast AND found the gig economy! Open that bottle of the inner financial ninja and let the Financial Flexibility Frenzy loose! Today’s world is so beautiful in that there are many opportunities to diversify your income and free yourself from the constraints of a regular paycheck. 

“The only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle.” – Steve Jobs

Let’s delve into the colorful realm of side ventures and see how your particular talents and interests can bloom to give you independence from money. Think beyond dog walking and free-lance writing! The gig economy is bursting with opportunities for millennial innovations. Here are just a few to ignite your side hustle spark:

  1. Content Creators: Use your wordsmith skills on blogs, craft engaging captions for influencers’ social media feeds, or become the voice behind commercial jingles. Your creativity is your currency!
  2. Tech Savvy Wizards: From web development and app design to social media management and online marketing, your tech skills are hot items in digital time.
  3. Passion Project Powerhouse: Turn your hobbies into income! Sell handmade crafts on Etsy, teach yoga via webinars, or provide custom-designed pet portraits. Your hobby can make you money!
  4. Data Detectives: Venture into the realm of data analysis, transcribing, or virtual assistance. Your keenness to detail and ability to deal with numbers are good attributes.

Real-life success stories abound! Lisa is a graphic designer during the day, but by night she creates social media content for small businesses earning an additional $1000 per month to fund her dream trips. Mark, is a geeky millennial adept in computer programming who builds websites for small enterprises making him his side income alongside pursuing the idea of establishing that startup he has been thinking about. These are just a hint of what can be done.

The gig economy is projected to reach $455 billion by 2023, representing over 57 million workers in the US (source: Upwork, https://www.upwork.com/research/future-workforce-report-2022).

The Financial Flexibility Frenzy starts when a person has multiple streams of income. Do not depend on your main job alone. Experiment, explore, and find out what ignites your financial flame.

So millennials, enter the Financial Flexibility arena Empower your side hustle superpowers, liberate yourself from the 9-to-5 grind, and construct a future where avocado toast is just the entry point to financial gourmet.

Money MoveBenefitsTips & StrategiesResources
1. Debt DemolitionSay goodbye to ramen nights and financial anxiety. Build freedom and security.Budget aggressively, find side hustles, explore consolidation options.National Foundation for Credit Counseling (NFCC): https://www.nfcc.org/
2. Investing IgnitionTime is your friend! Compound interest grows your wealth over time. Unlock financial possibilities.Budget aggressively, find side hustles, and explore consolidation options.The Motley Fool: https://www.fool.com/
3. Emergency Fund FortressWeather life’s unexpected storms with peace of mind. Avoid debt spirals and anxiety.Start small with low-risk options like index funds, and use robo-advisors for hands-off management.Federal Emergency Management Agency (FEMA): https://www.fema.gov/
4. Retirement Reality CheckYour dream retirement isn’t as far off as you think! Early planning leads to greater freedom.Set achievable savings goals, automate transfers, and utilize side hustle income.AARP: https://www.aarp.org/
5. Financial Flexibility FrenzyUnleash your side hustle power! Create multiple income streams and break free from the 9-to-5 grind.Start saving small and early, leverage employer-sponsored plans, and utilize IRAs for tax benefits.Freelancer: https://www.freelancer.com/
5 Money Moves Millennials MUST Make in 2024 (and Beyond!)

Frequently Asked Questions (FAQs):

Q: I’m drowning in student loan debt! What’s the best way to tackle it?

A: Explore repayment options like income-driven plans and consider debt consolidation if it makes sense for your situation. Prioritize high-interest loans first and dedicate extra income from side hustles towards debt payoff.

Q: I don’t have a lot of money to save. How can I still pay off debt?

A: Even small, consistent payments add up over time. Start with budgeting and find creative ways to cut back on expenses. Consider side hustles to generate additional income for debt repayment.

Q: I’m new to investing. What’s the safest way to start?

A: Consider low-risk options like index funds or robo-advisors that diversify your portfolio automatically. Start small and increase your contributions as you get comfortable.

Q: I don’t understand all the investment jargon! How can I learn more?

A: Plenty of online resources, books, and podcasts can break down investment terms and strategies in a beginner-friendly way. Check out the recommendations listed in the article!

Q: How much should I have in my emergency fund?

A: Aim for 3-6 months of living expenses as a starting point. Adjust your goal based on your individual circumstances and job security.

Q: I struggle to save. What are some tips for building an emergency fund?

A: Set up automatic transfers to your emergency fund from your paycheck. Utilize side hustle income or challenge yourself with no-spend weekends to boost your savings.

Q: I’m young! Why should I worry about retirement now?

A: The earlier you start saving, the more time your money has to grow through compound interest. Even small contributions now can make a big difference in your future retirement lifestyle.

Q: I don’t know where to start with retirement planning. What should I do?

A: Research different retirement account options like IRAs and employer-sponsored plans. Utilize online tools and calculators to estimate your retirement needs and create a personalized plan.

Q: I don’t have any marketable skills. Can I still create a side hustle?

A: Explore your passions and interests! You can offer freelance writing, online tutoring, crafting, pet sitting, or even social media management services. There are tons of opportunities for millennials with diverse skill sets.

Q: I’m scared to start my own business. What if it fails?

A: Many successful businesses started small and faced challenges along the way. Don’t be afraid to take calculated risks and learn from your experiences. The potential rewards of financial freedom are worth the initial leap!


Hey, fellow millennials, let’s take a moment to reflect on our financial journey – we’ve faced and conquered our fair share of debt challenges, jumped into investing, created safety nets for emergencies, tackled the reality of retirement, and embraced the side hustle craze! These five money moves aren’t just about numbers; they’re like the keys to unlocking a future full of avocado toast, financial freedom, and exciting possibilities.

It’s not about hitting billionaire status overnight (but hey, if that happens, share some guacamole, okay?). Instead, it’s about taking charge, making wise decisions, and crafting a future that doesn’t revolve around cheap dinners and regrettable instant noodles.

Let’s ditch the FOMO, my fellow millennials! Instead of getting lost in the stress of finances, let’s focus on making progress with our money moves. Don’t let the fear of spreadsheets or the Wall Street jargon hold you back – you’ve got this!

Feeling ready to take action? Check out these resources to stoke the flames of your financial journey:

  • Websites: NerdWallet, Investopedia, The Motley Fool
  • Podcasts: Planet Money, ChooseFI, Afford Anything
  • Books: “I Will Teach You to Be Rich” by Ramit Sethi, “Broke Millennial” by Erin Lowry
  • Social media: Follow finance influencers and communities for tips and inspiration

Remember, success with money is a process, not an instant result. You’ll encounter bumps, setbacks (maybe even avocado toast-related ones), and perhaps a few financial facepalms. But with every step forward, each debt challenge conquered, and every side hustle mastered, you’re getting closer to a unique future.

So, raise your avocado toast (extra guac, anyone?), dear millennials! You’re the generation reshaping what success means, the financial wizards cracking the code of adulting, and the superheroes of side hustles conquering budgets and claiming freedom. Let’s make 2024 and beyond the years we transform financial uncertainty into a prosperity filled with avocados, because this time, the future is ours to celebrate! 🥑💰

“Money isn’t everything, but it buys you freedom.” – Unknown

Disclaimer: While the information and resources presented in this article are intended to be helpful and informative, please remember they do not constitute professional financial advice. Individual circumstances and financial goals can vary greatly, and it’s important to seek personalized guidance from a qualified financial advisor or planner before making any significant financial decisions. This article encourages responsible financial planning and exploration, but ultimately, individual financial responsibility and due diligence are essential.

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