In honor of National Financial Literacy Month, TIAA-CREF identified steps members of Generation Y can take to become financially independent.

Managing expenses should be the top priority of individuals in their late teens and early 20s because this is the time when most people make the least amount of money. Staying current on the benefit programs offered by your employer is one of the best ways to cut costs, the report said. For example, many employers offer flexible spending accounts that allow employees to save on certain health care or dependent care expenses. Discounts on health club memberships and cell phone service also are common perks. The more money you can save on day-to-day expenses, the more you can put toward reducing debt or funding other financial goals.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events.
  • Access to other award-winning ALM websites including and

Already have an account?



Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including and
  • Exclusive discounts on and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.