Ready to budget smarter, save more, and build amazing credit? These easy-to-accomplish tips are a great place to start.

You’re young, single, and ready to tackle adulting. One of the smartest things you can do is build good credit and save for the future. While it may seem daunting, it is possible if you try these seven financial hacks.

1 Use the 60-20-20 Rule

Before you know how much you can save, you need to know how much you can afford to save. Many experts recommend a 60-20-20 approach to budgeting. Take your monthly income and budget according to the following rule:

• 60% for Living Expenses
  Housing, utilities, transportation, food, and more are considered living expenses – the costs associated with basic daily living and health. If you have expenses like insurance that you pay annually, divide those costs up into monthly increments and include with your expenses.
• 20% for Savings
  This category includes money that you set aside to create an emergency fund, invest, or save for future purchases like a home or car are part of your savings budget.
• 20% for Fun
  These are things you enjoy but can live without. Eating out, going to concerts or shows, going on dates, and buying new clothes are all examples of what your discretionary spending budget should include.

2 Challenge Yourself

If you’re spending more than 60% of your income on living expenses, challenge yourself to find ways to save creatively. Here are a few ideas to get you started.

• Share Your Space
  Consider taking on roommates or offering your apartment as an Airbnb. Even having paying guests a few nights each month can help cover rent.
• Unsubscribe
  We all sign up for things we never use, like dating sites, streaming apps, and gym memberships. If you haven’t used a service in three months or more, cancel it.
• Take Out Take-Out
  Limit take-out to one or two days a week and cook for yourself the rest of the time. Don’t want to cook? Many ready-to-eat meal kit delivery services (not take-out delivery) are less expensive than take-out.
• Cut The Cord On Cable
  Before you sign up for an expensive cable package, try using a basic antenna for local channels, and streaming apps to watch those can’t-miss shows.

3 Save Without Thinking

Money experts agree that everyone needs an emergency fund, equal to at least six months’ income. To build that fund, make it a goal to set aside a certain amount of money each month. One easy way to do that is to set up a regular automatic transfer from your checking account to your savings account. If the money isn’t there to tempt you, you’re less likely to miss it.

4 Know Your Credit Score

Your credit score is more than a number from 300–850. It’s a measure of your creditworthiness. Taking steps to improve your credit can save you thousands in the future when you’re looking to buy a car or home. Your credit card company may provide you that score for free, so check your online account. Some websites, like AnnualCreditReport.com, offer your credit history report and credit score for free without requiring you to provide credit card information.

5 Don’t Be Late

Even when your bills are paid, credit reporting bureaus notice when you pay bills late, and it can hurt your credit score. To keep yourself from forgetting, automate bill paying as much as possible. Many utilities and retailers allow you to create automatic payments directly through their websites. Or you can do online bill pay through your financial institution and schedule regular payments.

6 Rely on Your Debit Card – Not Credit Card

While your credit and debit cards may look alike, there’s a big difference between buying something with your debit card and putting it on your credit card. When you pay with your debit card, the money comes directly out of your checking account. When you pay with a credit card, the money is loaned to you by a financial institution. The average credit card charges 15–20% interest, and if you carry a balance, you’re going to get hit with additional fees. Try to use your debit card primarily and rely on your credit card only for certain purchases (such as your monthly phone bill). If you need to use your credit card for daily purchases, you may want to reevaluate your budget.

7 Make Your Boss Pay

Every year, American workers miss out on thousands of dollars in company benefits. Talk to your HR director to see if you’re taking advantage of all offered benefits.

• 401(k) and Other Retirement Accounts
  These accounts allow you to set aside a certain percentage of income pre-tax toward retirement. Your employer may also match your contributions up to a certain percent.
• Health Savings Accounts (HSAs)
  These accounts allow you to set aside a certain portion of your pre-tax salary each year to pay for qualified medical expenses if you have a high-deductible health plan.
• Life and Disability Insurance
  Many employers offer basic no-cost life and disability insurance to their employees. If something happens to you, the coverage can benefit you and your family