In Your 20s, Here's How Your Summer Can Include Both Building Wealth and Making Memories
In your childhood, summer meant care-free days of swimming and cycling. Now that you’re in your 20s, you’re probably working through the summer months. That’s important because your 20s should be the time you’re building the foundation of your financial future.
While you’re young and have plenty of energy, if you work, stay out of debt and invest a portion of your earnings, you have the power of compound interest on your side.
If you’re lucky and plan ahead, you’ll get to see a few concerts, spend weekends at the beach and maybe even take a vacation this summer. But following a budget shouldn’t take a summer break.
Fortunately, you can stay on budget, upskill and maybe even earn extra cash while making memories.
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Snag a Part-Time Job Somewhere Fun
If you’re a college student home on break, your summer job doesn’t have to be dull. Consider working as a lifeguard at your local beach (with proper training and certifications, of course), a ride op at a local theme park or even your favorite store in the mall. As a bonus, you’ll get a sweet employee discount that can help you spruce up your wardrobe.
If you’re already working full-time, consider bartending or waitressing at a hot nightlife spot or a rooftop bar. You can have fun, meet new people and potentially put tax-free cash in your pocket with the tips you earn.
Work and Travel
Look into programs that allow you to work for cash or even room and board, to travel and experience the world for less money than a traditional vacation.
Work at a holiday resort or as an au pair for a family, for a place to stay, free meals and a summer paycheck. You may need to look into a working holiday visa depending on where you travel, according to GoAbroad.com.
Learn How To Invest
If you aren’t already investing in stocks or your only investments are passive and managed, like your 401(k), consider downloading a stock trading app and learning some of the basics.
Apps like Webull allow you to practice trading without risking your hard-earned dollars. When you’re ready to dive in, take some of those earnings from your summer job and invest in a few companies you believe in.
Take a Class at Your Local College
Summer’s longer, brighter days often give us more energy to get things done. Use that time to take an evening class at your local college, earn certifications in your field or pick up a new skill.
If you’re still in college, you can use those summer credits to help you graduate faster, giving you opportunities to get into the workforce with a degree before your peers, which can increase your lifetime earnings.
Start a Side Business
Summer is also a good time to start a seasonal side business. You’ll pick up important business skills like sales, negotiations and accounting while earning money. Make it even more fun by working with friends.
Popular seasonal gigs include window washing, lawn care and landscaping, auto detailing, dog-walking and even scooping poop in dog owners’ backyards. Check with your town or municipality to see if you need special insurance, licensing or permits if you’re working on other people’s property.
Monetize Your Hobby
More than half (57%) of Gen Zers plan to turn their hobby into a career (45%) or have already done so (12%), according to a survey by EduBirdie on how Gen Z spends their free time. Of those who’ve made that leap, 35% have already earned money from their hobby.
This can be a great way to have fun doing something you love while earning extra cash. Just be aware of burnout. A monetized hobby can be exhilarating, but can also lead to what expert Prudence Leunge, registered psychotherapist and coach, called “dual-source burnout.”
If you work a stressful full-time job and view your hobbies as a way to unwind, monetizing it can train your brain that it’s never okay to fully rest.
“You find yourself feeling increasingly pressured,” Leung said. “The hobby you once used to relax will start feeling like another job your brain can't completely switch from.”
To help Americans navigate the added cost of summer, MoneyLion is giving away $1,000 every day through July 4. Enter the Summer Break Giveaway here (No pur. nec. Ends 7/4/26. See official rules at mlion.info/summerbreakofficialrules)
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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