By Allison Tait

At this stage of life, a mortgage seems like a life sentence and retirement is for really old people. So what should you be doing with your money? Here’s your “to do” list for the decade.

1. Aim to learn something “One of the best things you can do at this stage of life is to look to improve your financial literacy,” says Matthew Walker, director of Sydney’s WLM Financial Services Pty Ltd. “Read books, take a course, search the Internet or talk to people with experience.”
2. Think about tomorrow So you’re scrabbling to buy your lunch today, let alone the rent at the end of the week? While the big ticket tomorrow items such as a mortgage, superannuation and all that other grown-up stuff might seem a long way off, the truth is that it’s never too early to set up some shorter term goals. Saving for a car or a holiday is a great way to fast-track a sense of achievement — and it sets up an invaluable habit. Walker suggests putting aside 10 percent of what you earn as a start.

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