One of the first things people ask when the meet me is how I managed to become a home owner. When I tell them that I was just 22 when I closed on my town home, the questions usually start flowing. How on earth does a twenty-something make such a large and important purchase? While it is not easy, it is certainly not impossible, and it really can be a sound financial decision  for your future.

If you think about it, most 20-somethings spend a large portion of their income on living expenses like rent and utilities. Instead of just giving that money to someone and never seeing it again, how cool would it be if that money could go into an investment? Let’s face it, rent is money that you are literally throwing away, but a mortgage payment is something that goes toward your ownership of a property, something most people don’t obtain until much later in life.

Now, there are some major challenges to buying a house in your 20’s, one of the main ones being that you have to have already decided where you want to live, unless you plan to simply buy the property as an investment and rent it out, but that’s another topic entirely. Many 20-somethings are figuring their lives out and that includes where they want to spend it. For me, the choice to stay in the city where I went to college was one that I fell into, but I don’t regret it for a second. I have my home here and a job I love, I just have to hope the other things fall in to place.

Another challenge is that you may also believe that you won’t qualify financially for a home. After all, buying a house is probably the biggest purchase you will ever make, but the reality is that now is one of the best times that you could possibly be in the market to buy a home. Many houses are selling for way under their market value as the economy tries to make a comeback. Homes that us 20-somethings might never have gotten approved for 5 years ago are now within reach today.

If you are seriously thinking about buying a home in your 20’s, here are the three main things you need to do before you buy.

1. Get your finances in order and begin talking to a mortgage broker about your financial options. Before you can go home shopping, you need to know how much home you can afford. Find out how much your monthly mortgage payments would be and make sure you factor in any homeowner’s association costs plus utilities and home repair. Many 20-somethings will qualify for FHA (Federal Housing Administration) loans, which require minimal down payments on homes (I did and my down payment was less than $5K.

2. Find a reputable real estate agent whom you trust and who listens to your needs. Trust me, you need an agent. They can negotiate deals that would make your head spin. My agent was able to get the price of my house knocked down by nearly $50K and he found out about homes that weren’t even on the open market yet. He was a major source of support when one of my deals didn’t go through. I can’t stress this enough: you need an agent.

3. Decide how much home you need. Do you want to live in a condo, a townhouse, or a single family home? Do you want to have to take care of a yard and landscaping? Do you need a garage? When I was home shopping, I was shown houses that had garages and yards, but I knew that I simply did not want to deal with any of that stuff. I ended up buying a 2 bedroom 2.5 bath townhouse because I didn’t want to live in a condo building and I wanted to rent out my second bedroom to make my mortgage more affordable. I also knew that 2 bedrooms would be great while I was single, but if I did meet someone and we wanted to live in my house, 2 bedrooms would be space enough. I also needed an in-home washer/dryer and big closets. Decide your non-negotiable up front.

Buying a home as a 20-something is neither crazy nor impossible. True, there are many pros and cons to buying a home at such a young age, but for me, the positives outweighed every negative aspect that came up. Something to always remember is that if five years down the road you did change your mind and want to move somewhere else, renting out your home is always an option. Once you invest in a home, that investment is yours and yours alone. Though being a single, 20-something, female homeowner is not always a walk in the park, it is something that I have not regretted in the nearly four years I have owned my home.

Teacher Girl is a 20-something lifestyle blogger who blogs at www.teachergirlblogs.com.  Have more questions about buying a home? Feel free to contact her at teachergirlblogs@gmail.com or via Twitter @tgblogs.

By Annie Favreau from Inside Jobs

Whether you’re a graduate on your first employment hunt or a young professional looking for a career change, you want to choose a job that’s got a future. One way to do this? Pick a career in a new or developing field. Here are five jobs that hadn’t been invented when you were in grade school:

Digital Journalist – Digital journalists are like the energizer bunnies of journalism: you find stories quicker and deliver news faster by blogging, micro-blogging, vlogging, texting, tweeting, and generally feeding the social media frenzy.

This is a relatively new field, born from the public’s ever increasing consumption of on-demand, easy-to-digest news. As such, the new breed of reporters must distinguish which stories are best told through what medium—words, photographs, video, audio recording, or visual graphics.

A word of warning: because you’re often working without the safety net of an editor, digital journalists need a strong knowledge of journalism ethics and media laws. That way, you can avoid career-killing situations, like getting sued for libel.

Average salary: $25,480–$51,210

Environmental Economist – Mathematically minded folks who are interested in greening up their jobs should consider becoming Environmental Economists. This career choice marries ecological and economic sustainability: you perform cost/benefit analysis of government policies that deal with air pollution, water quality, waste, and global warming.

Environmental Economics has been around for a while. But now that everyone and their mother are concerned about shrinking their carbon footprints (and rightly so), this career field is developing into a professional hot spot.

Average salary: $60,990–$119,630

TSA Officer – The Transportation Security Administration (TSA for short) was created exactly ten years ago in response to the terrorist attacks of September 11, 2001. Since then, TSA agents have been screening passengers, baggage, and cargo to protect our friendly skies.

At first glance, this job might not seem a little…well, boring. Going through some lady’s bag to find her illegal tweezers isn’t a job most people dream about. However, TSA officers often receive extensive training in the fields of security, intelligence, and counter-terrorism which can lead to other career openings. And you’re the first line of defense against any and all threats.

Average salary: $21,980–$39,990

Forensic Accountant — If you’re a math whiz but have always secretly fantasized about investigating and bringing down criminals, why not combine your two interests and enter the world of forensic accounting?

Investigating insurance claims, tax evasion, money laundering, and fraud are all part of the daily grind. But it’s not all paper trails and numbers; forensic accountants are often called as expert witnesses in court.

Technically, this job is more than ten years old, but the demand has grown exponentially in recent times (Bernie Madoff, anyone?).

Average salary: $46,740–$79,470

Online Reputation Manager – Anyone who’s Googled themselves understands the value of an online reputation manager.

Whether you’re deleting Facebook photos of a CEO smoking something strange, or responding to complaints about a company’s product, online rep managers works to maintain a pristine online image for their clients.

What’s it take to succeed in this position? Not a lot beyond a firm grasp on social media, strong communication skills, and the willingness to spin a story. The field is so new that even the experts have only been working there for a couple of years.

Average salary: $38,740–$72,180

Annie Favreau works for Inside Jobs, a career exploration site that helps people discover what opportunities exist and learn what paths can take them there.

In a previous entry, I mentioned that I’m making a few changes in my life. One of them involves a change of scenery. In other words, I’ll be moving soon – in fact in a just a couple weeks. I want to stay close to the places and people that I enjoy the most so I won’t be moving too far. Still yet, I enjoy putting myself in different situations, exploring new areas and learning along the way.

Throughout this process I’ve learned a few things that can help anyone on the move.

Donate, dispose, and de-clutter: The first thing I did before going on a packing frenzy is reorganize the possessions I already had. I followed what I like to call, the three D’s: de-clutter, donate, and dispose. It’s so easy to accumulate things without knowing how much we actually have, so it helps to have a “spring cleaning” no matter what season it is. If you haven’t actively used something, let’s say a piece of clothing or furniture, in the past 6 months or so, it might be time to let someone else use it. Donating items to your local Goodwill or Salvation Army can give others the benefit of using your gently used items. Not to mention, you can also get a tax deduction if you do itemized deductions when filing. If the item has completely lost quality or usage, it might just be time to say goodbye and dispose it. It will reduce the amount of time and things you will need to move from one place to another.

Coordinate: Coordinating logistics of the move was by far the topic that needed the most patience and planning. Moving will give you a chance to “start over” and make changes to the lifestyle you have.

Here are just a few things to consider once you know where you are going to live:

o How much advance notice will I have to give my current home? Is there any penalty for not giving enough notice?

o When will I be moving?

o Do I need to change my budget for the move?

o How much advance notice will you need to give a moving company or to my friends who help me move? (I would recommend planning this a month in advance, especially in the summertime.)

o How early can I move into the new place?

o Are there any pre-move-in procedures I need to go through at the new place?

o Have I informed all the necessary people about my move? (This can include your personal contacts, the utilities and amenities companies, the post office, etc.)

Something that helps me stay organized during this time is making lists – “to-do” lists for the current and future home and a “to buy” list for the next home. Luckily I have mostly everything needed to furnish a home, so the “to buy” list is short.

Take care: When you become so involved in taking care of everything for the move, it’s easy to forget about taking care of yourself. Don’t let the moving process be an excuse for you not to. Make small adjustments if you need to but don’t deviate too much from how you regularly take care of you. Also give yourself time away from the move. It can be a stressful process so make sure you share your time with your friends and continue to do the activities you enjoy. The moving process will eventually all come together.

Enjoy – You’ve reorganized your belongings, planned for your move and remembered to take care of yourself along the way. You’re settled in the new home now and the only thing left to do is: Enjoy your new home! It’s your place for new beginnings, new friendships and new memories.

In addition to talks of picnics, BBQs, and rising temperatures, the summer inevitably brings back conversations of rising gas prices. I have seen many pieces of “advice” on saving on gas that I’m sure 97% of the driving population knows. Things like… when possible take a bike instead of driving short distances. Thanks for that, right? I was sent this week a list of tips on cutting back at the pump, several of them I wasn’t aware of… so I thought I’d share.

1. Fill up your tank on Wednesday or Thursday before 10 am. Gas prices rise on Thursdays in anticipation of weekend travel. 10 am is when most station owners make their price change for the day. Unless it is an emergency, do not buy gas Friday, Saturday or Sunday.
2. Don’t let your car idle, either when you warm it up or when you are at a standstill. If you’re going to be standing for more than a minute, running your engine wastes more gas than restarting the engine.
3. Buy gas when it’s cooler during the day (like the early morning or at night) to reduce gas evaporation.
4. Remove unnecessary items in your car. Every 250 extra pounds eats up an extra mile per gallon of gas.
5. Keep your windows closed when driving on the highway. Open windows can reduce your gas mileage by as much as 10%. In stop-and-go traffic, open the windows and turn off the air conditioning to save more money.
6. Rent fuel-efficient cars when you travel and research reasonably priced places to buy gas before you leave.
7. Download a Gas App for your phone. If you have a Smartphone, there are plenty of free apps that help you find the cheapest gas near your destination. GasBuddy makes it easy with its free app, and Mapquest has an online finder for gas prices.
8. Buy Discount Gas Gift Cards – Did you know you don’t have to pay full price for a gift card? Sites like GiftCardGranny.com offer a diverse selection of discount gas gift cards from various card vendors.

These tips all came from Chris Faulkner, President and Chief Executive Officer Breitling Oil and Gas, a Dallas-based independent oil and gas exploration and production company.

Have any gas saving advice to share? Speaking of cars… I have 2 car payments left (June & July) and my car will be PAID OFF! Win.

Taken using Instagram

I have a nightly habit of checking various Daily Deal sites. I don’t usually end up buying any of the items but I think it’s one part curiosity and one part fear of being left out. I mean YOU never know!

How are you about discount sites and daily deal apps? Do you have websites you check randomly, are you an email subscriber so you don’t miss any of them, a deal app user, or perhaps a hybrid like me?

This guest post was written as part of GenPink’s Top 10 in 2010 series, by Olga Garcia, 20something public relations strategist and fellow member of Brazen Careerist.

Did you grow up sitting down with your parents and talking about finances, what a good investment is, or how to balance a check book? If your answer was no, then welcome to the majority of young women’s realities. Even though most of our parents were functioning members of society contributing to the economy, the conversation of ‘personal finances’ was virtually non-existent. I have spoken to dozens of women who are just now discovering their financial wisdom in the later part of their 20s, some even rectifying years of bad financial choices.

Learning how to manage my finances has always been a pillar in my adult life, even though I resisted the idea until I graduated college. I was very fortunate to grow up with a CPA as a mother. At age 10, I opened my first savings account. At age 15, I had my first checking account. College marked the true milestone in financial education. The week before I left, my mother sat me down and made me write out a budget. All I wanted to do was ignore the importance of finances, like the rest of my friends. I thought the cool thing in college was to have a credit card, not a budget. After my own set of minor ups and downs, I can thank my mother’s financial persistence to the success that I have today. The great news that I learned is that no matter what financial foundation you have, you can always change your current situation.

Our chats always boiled down to two things: money is both a tactical and emotional matter. The tactical is fairly easy to navigate and implement. There is an entire industry built around educating people on managing their finances. The irony is that we still see dozens of people in debt, living beyond their means. That is why it is so important to understand the emotional side of money. That is the wisdom that my mother passed on to me.

I think we are taught to treat our finances like that chemistry class that you had to take to graduate with a degree in Fine Arts. Boring, unnecessary and confusing. Rather than delve into the 3 things you need to do now, before the dooms day of your finances is upon you, let’s have that talk about the emotional side of money. That is the talk that no one has and is central to your peace as a young adult. Yes. I said money brings you peace. When you learn about how your finances play a role in your life, then things like investments, budgets, credit card debts, even buying a home, will not stress you out. So taking us back to that table chat (with a glass of wine because we are all adults), “Here’s to the start of relieving that stress.”

1. You are not your money.

2. Treat your finances like a game.

Your finances are not like the class you had to take to graduate. It can be fun if you make it fun. The key to that…play reverse psychology on yourself. When I decided to go on a gap year after college, the first thing I did was investigate how I could make the most amount of interest on the money that I was going to save. Going through that process and knowing that in a year I could make several extra hundreds of dollars, just by researching, made the whole experience exciting, not laborious. I even went as far as making a thermometer chart where I would fill in how much I saved every month. Next thing I knew, I hit my goal in under the time I expected. Find at least 1 way to play that game with yourself. Maybe it’s figuring out how much you need to save to get that new thing you’ve wanted to for months.

3. Know your magic comfort number.

We all have thresholds that help us stay calm about our money situations. Our bottom-line is how much we need to have in the bank for those just in case emergencies, self-treats or simple peace of mind. Unfortunately, we are not taught to find that magical number. There is no right or wrong answer, only what feels comfortable for you. Just remember, no two people will ever have the same number.

4. Your debt will eat away at you.

Having debt is like having a cold that won’t go away. You want it to, but it feels out of your control. Luckily for you, you control your debt and not the other way around. The first step is knowing how much you have in debt. That includes credit cards, car and student loan payments, mortgages, friendly IOUs. Once you know how much that is (don’t be scared by that number, even if it’s high), starting building a game plan to pay it off. You can treat your debt like a game too. Maybe make a thermometer chart filling in how much you are paying off each month.

5. Know your monthly fixed costs.

You know your bottom-line and how much you have in debt. Now it’s important to know how much you are spending on a monthly basis that is fixed. That means writing down how much you are paying for rent, utilities, phone, internet, groceries, car payment, etc. That will give you an understanding of how much you need to make per month to cover your costs and how much of that money left over is for savings (always first), debt payment and fun.

6. Learn to splurge – wisely.

You work hard for your money. There is no reason to not treat yourself! The whole trick is knowing how to splurge. The $400 purse you want may not be the best idea if your debt is $10,000. However, buying yourself a nice shirt at the end of the month after having paid off $1,000 of that debt, awesome idea. Keeping track of your successes, whether it is growing your savings or paying off your debt, helps you to tangibly see your progress. That is your greatest sense of accomplishment.

7. Know your end goal.

Just like with any other accomplishment in your life, know where you are heading with your finances. It could be a long-term goal like a house or a short-term goal like a new dress. There is no goal too big or too small to start planning for. It’s a good thing to know both long and short-term goals so that you can save for both right away. A little trick: most banks let you set up ‘virtual savings accounts’ where you can virtually partition your money for long and short-term goals.

8. Find a financial mentor.

Personal finance seems scary because we feel like we are out there in the financial world alone. It doesn’t have to be that way. Find someone who you respect as a person and has the financial position that would like to have. Take them out to coffee, lunch, whatever fits your budget. Ask them how they got to where they are now. Ask them to give you some tips and tricks that they’ve learned along the way. Ask them to hold you accountable for achieving your financial success. When you have someone who is cheering you on, it builds skins in the game.

9. Treat your personal finances like a business (Rock star move!)

I really sound like my mother here. If you run your finances like you would run a business, then you can numerically see where there you are succeeding or where there is room for improvement. Use resources like Mint.com or Quickbooks to build that perspective over your finances. The key in financial savviness is have hindsight. Trust me, you won’t be cringing when you get a bill in the mail. You know exactly what to do and how you are going to do it.

10. Tactical Tip Added Bonus!

Everything written in this post is about the emotional side of money. This is my one and only tactical tip: Always have a beneficiary on your accounts (must be someone you trust). I have seen too many people have to go through mourning and battling with the government to get accessing their loved ones accounts. Regardless if you are married or not, having a beneficiary will ensure that your money is safely held by your beneficiary who can act on your behalf and not the government.

If you want to read more and learn more tactical tips from financial gurus, check these guys out: Dave Ramsey, Suze Orman, Ramit Sethi. Even the government has a special website called Wi$eUp dedicated to helping women increase their financial knowledge. Another great resource by the government is called MyMoney.gov.

I’ll tell ya one down side of having a degree in graphic design… I am easily drawn into things (aka ads) that have a high “ooohh pretty” factor. The current item that I’m pretty sure I don’t need but looks oh so shiny is Sephora’s Holiday Blockbuster set.

What do you think?

For me, the picture is much higher on the scale of “likely to make me buy” than the YouTube video, eeerr commercial. *not a Sephora affiliate but thinking maybe I should be

Companies like Sephora are counting on consumerism to bump up during the next few weeks “hello holidays” and of course are promoting collectors edition and limited time items to increase the need to buy now.

A few years ago my friends, old college roomies, and I started a $5 gift tradition. We are all kinda budgeting types but also enjoy buying fun items, mostly pink, for each other. There are only 4 of us that partake in this creative gift shopping tradition but I think I had more fun shopping for those items last year than buying the $50 jacket my teenage brother wanted (teenagers and their brands!). We haven’t really discussed what the plans are, if any, this year other than a color coded Blue Holiday themed party.

I’m curious… during this time of year when advertisers are counting on you to get sucked into the “ohhh shiny” or in my case “but it’s PINK” {insert any mundane object here}, what’s your plan of action? Do you have a per person spending limit or an “I’ll charge it and think about it later” attitude? Or perhaps something in between.

I am an information junkie, or as my mom calls it "a high information sort". One of my favorite things about microblogging (aka twitter/tumblr/etc) is the rapid of fire of information. I’ve learned many interesting tidbits in 140 characters or less. Browsing through my google reader (actually feedly) the headline The Best Career Advice, in Ten Words or Less jumped out at me. Of course, I must know, what’s the magic career advice in 10 words or less. Apparently this was part 2 of The Simple Dollar asking his twitter follows for their best money, and then career, advice in 10 words or less. He has collected 50 of each. While I do like a lot of information I’m also a fan of filtering and picking the best of the best.

So, here’s in the best money advice in ten words or less:

The secret to money management is learning to be content. – fiscalgeek

And, the best career advice in ten words or less:

Trust your gut, and find a mentor. – notquitebetty

In the event you’d like to read the rest of the advices (I highly recommend it) here’s the 50 best money advices & 50 best career advices.

How bout you, what’s your best career and/or money advice – in ten words or less?

Psychology professors at the University of Rochester research college students for 2 years after graduation to study the affects of achieving the goals they set out to accomplish. I’m not sure what it is about this study and this video that rubs me the wrong way, but while I’m figuring out how to put that annoyance into words I thought I’d pass it along.

Read and learn more about the study: Further Research on Money and Happiness * Get Rich Slowly.

So what are your thoughts? Am I the only one who has furrowed eyebrows watching this video?

(via Get Rich Slowly)