At 30, you are already an adult and should understand the basics of how money is made, how to earn it, and how to spend it correctly. I have selected 30 goals to achieve by 30 to help you get there.
Much of our life revolves around money. Whether this is good or bad is a personal matter for each person, and it is pointless to impose your opinion here. But one thing is for sure: money is an integral part of our life, and the ability to earn it will never be excessive.
But in order to make money, you also need to know the basics of money. Taxes, banking, passive income – these financial definitions should not be foreign to you. It’s great if you have a stable and favorite job that brings in income. But don’t forget that things can change, so it’s always good to have a fallback.
In this article, I have selected 30 financial goals to set and achieve by the age of 30. By implementing them, you will be confident in your financial future.
1. Financial independence from parents
Your parents will always think of you as a child, but you need to remind yourself and them that you are an adult and can provide for yourself.
2. No debt
Live within your means, and if you can’t afford to buy something, don’t seek to borrow money for it. Debt destroys not only financial stability but also relationships.
3. Get rid of outstanding loans
And again, our desire to have as many things as possible throws us into a financial hole. Loan debts can negatively affect not only credit history but also financial well-being.
4. Maintain your credit history
Don’t let the mistakes of youth ruin your plans for the future. A few missed payments when you were young or going over the credit limit on your card will take a toll on your credit history.
5. Save money for retirement
If you think old age only comes to other people and will never come to you, then I have bad news for you. It is unlikely that you have thought about such a distant future, but do it, and old age will not take you by surprise.
6. Study investments and create an investment portfolio
By the age of 30, you should have your own investment portfolio. Bank investments are also good, but a diversified portfolio can bring even a small but stable income.
7. Have a reserve fund
Try to keep in reserve an amount of money equal to 3-5 of your monthly expenses. Just in case.
8. Insurance
In today’s world, insurance is very common. Now you can even insure your pet cockroach if you want. Therefore, insure your valuable property..
9. Make the Most of Perks
If you have the opportunity to receive any benefits, be sure to use it. Otherwise, it is tantamount to a waste of money.
10. Track costs
The only way to manage your money is to keep track of your spending.
It’s very easy to do this with apps. For example, Dollarbird for iOS or Moneywise for Android.
11. Stop Impulse Buying
The sooner you break the habit of buying things just for fun, the better. Stop buying things you don’t need and learn to recognize this ahead of time.
12. Spend money on the right things
You no longer live in a hostel or in your parents’ apartment. Surely you have your own apartment, and spending money on its arrangement is quite logical. Buying curtains, furniture, or even a gym membership are great examples of smart shopping.
13. Keep track of credit scores
It is very easy to spend other people’s money, but banks do not forgive such frivolity. Therefore, do not forget to periodically check your accounts and notice and pay off your debts to the bank in time.
14. Pay your utility bills on time
We can endlessly complain about housing and communal services, but you still have to pay for services. And you can even get the bank to pay them for you!
15. Spend money on a big but useful thing (see item 17)
By the age of 30, you should have secured at least one financial triumph. It can be a car or a trip, but you simply have to save money and spend it in this way. You will enjoy this purchase for a long time to come!
16. Understanding the tax system
You need to learn to understand how the tax system works and how you can save on it. For example, how to return the tax paid in other countries, save on the tax on the sale or purchase of an apartment.
17. Save money for a big purchase.
Create a long-term plan and confidently move towards its implementation. Each of us has a dream for which such a plan is simply necessary.
18. Think about a career
Your work is the main source of income. If you enjoy your job, then don’t forget to improve your professional skills and career. Attend seminars, lectures, and learn from successful colleagues.
19. Passive income
Let it be small, but you must have additional income on the side. If you have not even begun to look in this direction, then it’s time to start. Learn more about investing, stocks, and diversified portfolios.
20. Your capital should grow
The formula asset – liability = positive amount is very relevant. And this amount should only grow. Your assets should increase every year. How much? Depends on your desire and actions.
asset – liability = positive amount
21. SCT, or super cool target
You must have such a goal. Having a six-figure salary or a bank account worth several million is your goal. And once you’ve set it, aim to achieve it with smaller goals. Once you have achieved this goal (you simply must achieve it), set yourself the next one.
22. Living within your means
And I’m not saying that you should save. No. But you must understand that in order to buy cool things, you must earn cool money. If you want to buy a country house, calculate how much it costs and how much you have to earn for such a purchase. If you can’t afford it yet, make it your SCT!
23. Comparing yourself to others
We have said many times that the life that people show on social networks and real life are two different things. Therefore, you should not reproach yourself and envy a friend who bought himself a new car. Maybe he’s been saving up for her for the past 10 years.
24. Do away with things
It is very difficult to do this because we live in a world of consumption, and they constantly want to sell us something. But you don’t need to measure your success by material things.
25. A healthy relationship with credit cards
Try not to spend bank money on unnecessary purchases. And never miss the deadlines for paying debts.
26. Charity
Donate small amounts to charity. $20-40 a month won’t hit your budget, but it will bring satisfaction to you and help others.
27. Healthy financial relationships in the family
If you are in a relationship, then creating a certain financial system will benefit you and your partner. Money too often leads to breakups and divorces, and you definitely don’t want that. Here you can read how to properly organize a family budget.
28. Used doesn’t mean bad
Deep in our minds is the idea that used goods are bad. This point needs to be fought. And sites like eBay are great for that.
29. Stop making unnecessary payments
Withdrawing money through an ATM of another bank or an accidentally connected tariff on a phone is not really needed, but you are just too lazy to turn it off. These situations eat up money, and it’s entirely your fault. It’s forgivable at 20, but by the age of 30, you need to learn how to keep track of your money.
30. Money is a medium of exchange, and it’s not worth being obsessed with.
Being financially stable is great, but you shouldn’t dedicate your whole life to it.
Learn finance, and grow financially, but don’t make money the number one goal of your life. Trite, but it won’t make you happy.
Do you have any tips to help others manage their personal finances and achieve their money goals? Share them in the comments!
