Making Big Financial Decisions in Your 20’s

achieving financial goals in your 20s

So you’re an adult now – or at least that’s what your parents are probably telling you. Likely, it’s also the first time in your life you are personally responsible for your finance. For most people, their 20’s mark a lot of other ‘firsts’.

These ‘firsts’ all come with financial decisions and consequences that impact your life journey, so you need to think about how you’re going to afford it all. Let’s look at a few of the most common purchases you’ll make in your 20’s and what you’ll need to consider.


As an Australian,  a car is usually one of your first investment priorities if you’re in your 20’s – whether upgrading from one you may already have, or perhaps even purchasing your first – you’re ready to make a financial commitment for some new wheels. You’ll also need to factor in insurance, and registration costs. It can also sometimes mean taking out a loan to get you over the line and into a vehicle suitable for your lifestyle, so factor in your repayment costs and make sure they won’t cause you financial stress over time.

Yes Loans provides very competitive car finance options.


Ready to explore the world? If you’re in your 20’s you’ve likely not bogged yourself down with too much commitment, so it’s the perfect time to pack up and see something new. But as part of your planning, you’ll need to consider your destination, accommodation and travel costs. From hostels to hotels, all things holiday require financial consideration. Get researching on how you can get the best value from your experience and how you wish to finance your dream getaway.

Moving Out of Home

Whether your parents have had enough of you or you’ve had enough of them, or you’re yearning for greater independence – it’s probably time to move out. A lot of people in their 20’s go into share housing or as a couple to cut down costs. Think about what you need and what essentials you require. Fridge. Microwave. Bed. Dressing Table. Washing Machine. Dryer. The list can pile up pretty quick! Factor in your rental costs (including utilities) and see what you can afford to purchase or if you’re getting a loan, what your repayments would look like.