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Bank of America x Her Campus

No, It’s Not Too Early to Start Planning for Financial Goals—Here’s How

This is a sponsored feature. All opinions are 100% from Her Campus.


Right now, you may be more concerned about how you’re going to pay for your textbooks than saving for a house (which honestly, same). 

But even if certain financial goals – like that house or starting a retirement fund – seem far away, the truth is, it’s never too early to begin preparing for them. After all, the more you plan for your financial future now, the more flexibility you’ll have later to live the life that you want.

So, what are some of the ways you can start planning for financial goals now? And what milestones should you be planning for? A Bank of America survey of students showed that nearly 40% are asking this essential question, so we teamed up with Bank of America to share financial planning tips – check it out below!


Whether you have a financial goal you want to meet in a year, or in ten years, creating a budget is a great first step. For an easy starter budget, use the 50/30/20 method. How it’s broken down is: 50% of your after-tax income will cover your needs such as rent and groceries, 30% will go to your wants, and then 20% should go into savings. Easy enough, right?! To make it even easier, read more about creating a budget that’s right for you.

Saving Money

Raise your hand if you thought that you needed to put away large sums of money to properly save money! *Raises hand* Believe it or not, all you actually have to do to save responsibly is to make consistent, small payments into your savings account. Even adding just $20 per week will help. Building a good foundation is key to saving for a down payment on a house or purchasing a car. 

Retirement Planning

You might be thinking, “I’m still young. I’m nowhere near retirement!” While that might be true, if you start planning and saving for retirement now, you’ll set your future self and future family up for success later. Whether you choose to invest your money, use your employer’s 401K match, or open your own individual retirement account (or all of the above), it’s a great time to do some research about how you want to plan for retirement. Bank of America has a ton of resources online that can help you learn more about which action plan is right for you. Check them out here!

Building Credit

As long as you pay off your credit card balance on time and in full, spend within your means, and use your card responsibly, credit cards are a great way to plan for your future by building credit and even earning rewards. 

Establishing good credit takes time, so start while you’re young. Being aware and practicing good credit card habits – like not splurging on spring break – can help pave the way for major purchases and life moments, since credit impacts everything from future living arrangements to the ability to purchase a car, and even employment opportunities. 

If you’re thinking now is a good time to get a credit card and start building your credit, head to the Bank of America website for information about which card is right for you, building credit, and keeping yours healthy.

So – are you ready to kick start your planning for financial goals?! If so, Bank of America will be there for you to help you on every step of your financial journey. Learn more here.

Emily Murphy has been with Her Campus Media since 2018, and is currently the Branded Content Associate. She was the Campus Correspondent and Editor/President at her chapter at Winthrop University for four years, but has had a passion for all things writing since she was young. When she's not scribbling ideas down for her next branded article, she's watching reruns of Seinfeld while scrolling Pinterest for apartment inspo. Follow her on Instagram at @emilysmurfy