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5 Things to Do Before Age 30
Tommy
So I turn 30 in less than a month now and that got me thinking about some money advice that I did or I should have done in my 20s. Financial literacy is one of the most important things that they don’t teach you in the classroom. So here are 5 money tips that I wish I learned in my 20s.Â
Become Financially Literate:
Only 33% of Americans are financially literate. That is the reason why I started this blog because I wanted to help people learn how to handle their personal finances. Financial education is not taught in schools, yet it is one of the most important skills to have in the real world. The majority of people don’t know how credit cards work, they don’t know what to invest in, and a lot of people spend more money than they make. My blog can help you in these areas.Â
Invest in You:
Your best financial asset is yourself. You are the one who is capable to better yourself, learn new skills, and grow your income. My Dad has always told me that knowledge is power and you can never have enough education or learn enough skills.Â
Another thing about investing in yourself is making sure you take care of yourself. Make sure that you stay healthy. Life is precious and we all want to live a long, healthy life. But we need to make sure to take care of ourselves by eating healthy, drink responsibly and not destroy our livers, and making sure our heart is healthy. We all make choices in life so make sure that they are good ones.
Pay Your Self First:
You always hear that you should be saving 15% of your income and that you should have 1x your salary saved by age 30. So how do you get there? Make sure to automate savings so you don’t even have a chance to spend the money. You can set it up with your employer you can allocate certain amounts to different accounts when you receive your paycheck.Â
Build Your Credit:
Do you want to have the best travel reward credit cards? Or do you want the lowest interest rate on your home mortgage? Then you better make sure that you have an excellent credit score! One of the best ways to build credit is open up a credit card and pay the balances off in full. Also, make sure that you don’t miss a payment as missed payments make up about 35% of your credit score. After making your payments on time, you will want to build up your credit score to at least 750.Â
Have Fun!
You work hard for your money! I feel that it is important to occasionally splurge on something fun. Whether that is a country you have been dreaming of visiting or a new xbox or something that you enjoy.