6 Financial Perks of Being Young

Young people may have scant savings and pitiful paychecks, but youth has its financial perks.

www.usnews.com

By Susannah Snider

Ask any young person, and they’ll tell you that being young is hard work.

Their salary is a joke. Their savings account is nonexistent. Their student loan bills are mammoth. And they have no idea how to manage their anemic assets. Being young is, like, such a bummer, dudes.

But despite their meager savings and pitiful paychecks, young people have lots of financial advantages, experts say. “Financial planning when you’re young makes so much sense,” says Stephanie Genkin, certified financial planner and founder of My Financial Planner, LLC in Brooklyn.

Here are six financial advantages to youth.

1. A fresh start. “The ability to start off with a clean slate is huge,” says Eric Roberge, certified financial planner and founder of Beyond Your Hammock, based in Boston.

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