Rock Your Credit
Pay Off Your Loans (Golden Financial Advice for 30 Year Olds)
Debt is pretty much a normal thing when you are in your twenties, but if you aren’t careful you can let it balloon on you and it can negatively affect the rest of your life.
When it comes to your debt high interest rats an choke out any hope of quickly paying off your debt. That just won’t do. You can look into refinancing your debt so that you can get a lower interest rate and pay off your debt quickly.
Start Investing for Retirement
When you are starting out, learning to invest can be a really challenging hurdle,
But it doesn’t have to be that way. Times have changed. With the rise of robo-advisors (investing that is automated and based on portfolio theory) you can start investing with as little as $50 a month.
I personally use and recommend Wealthsimple.
Wealthsimple will build you a portfolio based on your investing preferences in under 5 minutes (it’s all in their quick questionnaire).
By starting to invest today you will be taking the first steps towards your retirement or whatever else you are saving up for. They are easy to get started and you can get a $50 bonus for signing up when you use this link.
Start a Side Hustle That’s Completely Yours
Get Yourself Insured
Related: Is your family protected in an emergency? Click to find out How to Make an Emergency Binder
Cut Your Car Insurance
It’s exactly how it sounds. Instead of paying your normal monthly rate, you pay a base rate and for every mile you drive. It’s perfect for people who aren’t big drivers.
Or if pay per mile isn’t for you, click here to get your free quote with E-surance here and see how much could be saving.
Either way if you could save up to 50% on car insurance. That’s a lot of savings over your thirties.
Decide What Part You Will Play in Your Children’s Higher Education
Every parent dreams of being able to see their kids graduate from an Ivy league school.
We just never think of the price of that school until it’s time to pay for it.
The truth is university is expensive. Especially if your kids go somewhere else in the country.
Add on that you need to think about how you will handle your own retirement and you can feel the pressure mounting. (I’m getting that neck thing just writing about it)
Here’s the deal. Right now you need to decide what part you are going to play in your children’s education.
Whether it’s not helping at all, or paying for everything or somewhere in between. Just make a decision.
If you decide to pay for all or some of their college costs then you should start putting away for it right now. It doesn’t have to be a lot but you will get the power of compound interest working for you.
Things can change but by opening up an education account you will be off to a great start.
Come Up With A Budget You Can Live With
When I look back on my thirties, most of our financial success comes down to this. Our money system.
It was how we were able to become debt free in our thirties (including our $320K mortgage). It was also how we were able to avoid the money fights that so many couples have.
Here’s the deal. You need a money system (or budget, if you prefer) that will adapt and change with you through your life.
The money system we came up with does just that. It’s flexible and it literally changed our lives. You can get our money system here if you are looking for a way to budget that makes sense to you.
Start Saving Money When You Shop Online
One last thing I want to leave you with before taking off. The importance of this can’t be emphasized enough.
You will earn over a MILLION DOLLARS in your lifetime.
The math checks out, if you don’t believe me.
What if you could keep an extra 1% of that effortlessly? That’s $10,000!
What about 2% that’s an extra $20,000 that is being kept in your hands.
That’s why I believe every cent is so important.
When you look at 2 pennies you think: “Nah not a big deal“.
But if you were saving 2% on every dollar you spend and it was done automatically then you would be foolish to pass it up.
Swagbucks not only gives you cash back for shopping online, but they also pay you for your other online activities like watching video, surveys and tons of other things. Plus you get a $5 sign up bonus to start with Swagbucks.
Related Reading: Ebates Review: How We Used Ebates to Save $100 in minutes
Swagbucks is a great way to save money by purchasing through their site you can save between %1 and 20% cash back on different stores.
Get your $5 signup bonus today!
Taking Control Of Your Finances Doesn’t Have To Be Hard.
Taking these few steps in your twenties towards your financial success will help you go a long way in your thirties and beyond. These small steps that you take today can have a huge impact down the road. Get started and know that you are taking control of your financial future years before most other people do!
Here’s to your success
Family Money Plan Recap
- Start Monitoring Your Credit – Credit Sesame offers Free Monitoring
- Pay off your loans – Click here to see how much you can save by refinancing
- Start a Side Hustle
- Pick up Extra Money Doing Side Gigs – Check out places like Uber Eats, Uber and Fat Lama
- Look for Ways to Cut Costs on Insurance – Get a free quote from Metromile to see how much you can save
- Use Swagbucks and Ebates to Save Money Shopping Online
- Use Apps to Put More Money In Your Pocket – Trim and Paribus are a great place to start
- Start Investing – Wealthsimple is a Great Place to Start
- Find a money system that works and stick with it. Check out ours here
- Start side hustle that grow into something you are proud of. Check out our free course on starting a blog
If you found this useful, please share it with others! Thank you 🙂
FREE Ultimate Guide: How To Get Out Of Debt
Sign up for our weekly emails and we will send you our guide to becoming debt free and other useful resources to help you with your money.