Savings Gives Stress Relief

Ciera Bolden is only 20-years-old, but she’s already learned that having money in savings makes her life less stressful. “It gives me stability to know that I have savings to fall back on if I need it,” she says. “Plus I want to be an independent adult and the way to do that is to have money set aside so when you need it, you don’t have to rely on someone else for help.”

Learn to say, "No"

As a young adult, Ciera has been learning on the go. While working full-time and living with her mom, she saved enough to pay the deposit and first month’s rent on an apartment. She was also able to borrow money to buy a used car and get the loan paid off.
Over the long haul though, Ciera struggled with her finances. “Everyone has to learn to say no to some things,” she says. “But as a young person, there are so many things you want to experience. I had saved enough to get started on my own, but it wasn’t enough over time. It caused me a lot of stress worrying about my finances.”

Back on track

To help get back on track, Ciera took a financial education class. Not only did it help her understand her finances better, it also got her thinking about careers and continuing her education.
This year Ciera reduced her working hours in order to take a certification class through Mercy Hospital. Because of her reduced income, she’s moving back in with her mom for the time being. Recently, however, her efforts to get a full-time job paid off, and she expects to begin a new job in the near future.

Helpful hints for financial well-being

She shares this advice for other young adults working to gain their financial independence.
1) Be organized. Use a planner to note when rent and other bills are due.
2) Be aware of what is going on with your finances—look at your bills to make sure they are accurate and to avoid late fees or other penalties.
3) Set priorities and make decisions based on those priorities.
4) Make smart decisions. Read before you sign anything. If you don’t understand something, check with someone who is educated on the topic.
5) Don’t jump into any decision. Ask for a second opinion.