Financial Choices Made Early have a Tremendous Impact on Later Years

San Diego, CA (PRWEB) September 11, 2012 men’s lifestyle and finance magazine today released their support of the education of Generation Y while in their twenties, since developing financially responsible habits while in the twenties may prove to be a key to obtaining wealth later in life.’s take on this may help U.S. consumers, college students, and recent grads realize the impact their financial decisions could have on their later years.

Lawyer and financial blogger Rob Berger recently wrote an article featured in the online financial publication Dough Roller that highlights how the decisions he made in his 20’s had a tremendous affect on his current finances, now that he is in his 40’s. Berger points out that there are many financial habits which are best formed earlier in life, as well as personal finance faux pas that are also better learned earlier as opposed to later. Berger’s article mentions one of the five decisions or acts he did successfully in his earlier years that gave his finances a boost later in life was to maintain a good credit score. Berger states that there was no way to get a free credit score online back in the 90’s, so he actually developed great credit unbeknownst to him through paying bills on time and avoiding debt. He states that it was his high score that helped him to obtain a great interest rate on his first home mortgage and a phenomenal refinance rate, as well as good interest rates on all of his and his wife’s automobile loans. emphasizes the importance of developing a good credit history at an early age.’s Senior staff writer is quoted as saying, “I have been writing articles for weeks about the value in educating kids before they go off to college about the basics of finance, so that they’ve got something to guide them when they leave home. I believe that Berger is right on the money in reporting that good financial habits and wise decisions have the most positive impact on one’s bank account when they are instilled early in life. People go through a lot in their twenties—they graduate college, start a career, get married, maybe start a family. It’s a tumultuous decade, and smart financial moves are critical to the way they conduct themselves later in life.”

In the above-mentioned article, Berger points out the value of a college degree that will actually pay off the loan it took to earn it. He states that a four-year degree from a private college or university can cost close to (if not more than) $ 200,000, the loan for which can be a big burden for years or even decades to come. Berger himself received a law degree in 1992 and graduated with $ 55,000 in loans, which he was able to pay off during his rewarding career, but many post-grads are not so lucky. According to NPR, as of April 2012, student loan debt in the United States surpassed one trillion dollars, which is higher than the nation’s combined credit card debt. The total sum of the nation’s student loan debt first surpassed credit card debt in June 2010, and has only grown since then. wholeheartedly agrees that the cost of college degrees at present time should be cause for students to tread carefully when selecting a degree, and try to take out as few loans as possible.’s Senior staff writer is quoted as saying, “I think my kids will go to community college for a couple of years, then if they really want, go off to a 4-year college and finish out so they can get the name on the degree. Plus there’s always state school. It’s just outrageous to me how much an education costs these days, and it’s horrifying to see that the amount of money spent on a degree definitely does not correlate with the wages that same degree is able to bring in. I think these days more than ever, students have to be selective in choosing their major, so that they can guarantee they’re able to pay back the amount they borrowed for school in a reasonable amount of time. Otherwise you just have debt hanging over somebody’s head for years and years, which is both mentally and financially draining.”

Among the other wise decisions made in his twenties were Berger’s conscious choice to avoid consumer debt, begin investing in a 401(k) early on, and purchasing used and modest vehicles.

About lifestyle and finance magazine is a popular online men’s magazine that regularly includes articles pertaining to travel, lifestyle, and finance. readers tend to be men in their 30’s and 40’s that have already accomplished worthy professional or personal goals, and are looking to the next big thing. men’s lifestyle and finance magazine features stories on men’s luxury items, vacation ideas, hot chicks, and financial advice on investments. It also commonly hands out dating advice as well as reviews on hot items for readers, such as luxury watch brands. is owned and operated by Purpose Inc.

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