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And there are more ways to earn money through the gig economy than ever before.
But all these opportunities and open conversations about money also create confusion.
GOBankingRates asked 18-year-old Anastasia Ghobrial for her top investing questions she would want to ask experts.
Read on forexpert answers to this Gen Zers questions.
Prioritize your emergency fund first before focusing on retirement savings, Feinsmith said.
You should have a cushion in case of unexpected costs like medical bills, car repairs or job loss.
A good goal is three to six months of essential expenses in an easily accessible savings account.
Start with at least $1,000 and build from there.
Early Investing Tips
How can I start investing with little money?
Both experts commended Ghobrial for thinking about money in her teens.
Its great you are thinking about these financial choices and asking great questions, Feinsmith said.
Starting young and letting compounding work for you has a meaningful impact, Shacklett said.
As you start investing, it is important that you make it easy and repeatable.
I recommend setting up an automatic recurring contribution, Shacklett said.
Shacklett suggested a large brokerage with no account minimum.
Similarly, Feinsmith advised considering investment fees when choosing a brokerage.
Look for brokerages that have a free account and investment fees under 1%.
They are widely popular thanks to their trading flexibility, low costs and tax efficiencies.
Feinsmith also suggested that Ghobrial learn about dollar-cost averaging.
Keep Going
Feinsmith had one additional piece of advice.
Ignore social media advice about finances and investments, she said.
Finally, Feinsmith offered some words of encouragement.
Keep asking questions and building confidence and security.
Small, consistent steps will have a big impact over time, she said.
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