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21 Tax Deductions for College Students and Other Young Adults
https://www.sofi.com/learn/content/tax-breaks-for-students/
If you’re a student or a recent grad, you are likely just starting your financial life and looking for ways to economize. One way to do that is to learn about the tax deductions and credits that can often help you lower your tax bill whether you’re still in school or just got your degree. […]
Financial Planning Tips for Young Adults in Their 20s
https://www.sofi.com/learn/content/financial-tips-for-young-adults/
The 20’s can be a really busy, really exciting time, whether you’re finishing school, building a career, getting married, or starting a family (or some combination thereof). Add to that things like traveling, hanging out with friends, and discovering your passions in life, and it can be hard to prioritize financial planning. But it’s important […]
What Is Piggybacking Credit & How Does It Work?
https://www.sofi.com/learn/content/what-is-piggybacking-credit/
When you piggyback on someone else’s credit card, you become an authorized user on their account. Usually, this is in service of establishing credit for the first time or building your credit score. While piggybacking credit can serve as an important tool as you establish firm financial footing, there are also situations in which it […]
Tips on Establishing Credit
https://www.sofi.com/learn/content/how-to-establish-credit/
A lot of basic “adulting” involves a credit score. Renting an apartment? The landlord will want a credit score. Financing a car? Lenders need to see a credit score. Buying a home? You get the point. A low or non-existent score can get in the way of your life plans. But a few simple steps […]
Setting Up a Retirement Account for Your Child
https://www.sofi.com/learn/content/setting-up-retirement-for-children/
Opening a tax-advantaged individual retirement account (IRA) for minors becomes possible once they start earning income. Even babysitting or lawn-mowing money counts. A custodial IRA offers certain advantages: It can jump start a child’s interest in investing, and possibly help build their future nest egg. But there are annual contribution limits and other potential drawbacks […]