If the addition of anti-aging products to your skincare routine wasn’t a wake-up call that you’re nearly 30, then your kid pointing out your grey hairs at the checkout should do the trick! Don’t have kids? What’s the bet that you’ve got a phonebook length list of boho baby names in the notes section of your phone?
But, aside from frown-lines and babies, the biggest telltale sign that you’re pushing on 30 is probably a major priority shift, particularly in regards to money. If not, then it’s time for a money-attitude upgrade! So, to help you prepare for your coming of age, here are the 5 money milestones you should reach before your dirty-thirty.
Ditch the debt
If there’s one thing to ditch before you’re 30, it’s any debt you wracked up in your wreckless twenties. ‘Established 30-year-old’ and ‘3-year-old credit card debt’ don’t go together. At 30, you’ll want to be buying a house, not still trying to pay off your first car. So, make it your mission to get debt-free before your dirty-thirty so you can start the next chapter of your life on a clean financial slate.
Sound like a bit of a stretch? Then you might want to consider combining all your debts into a debt consolidation loan. This can help you clear your debt faster as you’ll save on interest costs and have just the one regular repayment to worry about instead of multiple.
Expect the unexpected
If you think you’ll get away with the same “YOLO” mentality to spending you had at 20 when you hit 30, then you’ve got another thing coming! Cleaning your bank account dry on a night out or new pair of shoes just won’t fly when you’ve got a mortgage to pay and a baby (or fur-baby) to feed.
With extra responsibility comes the need to take extra precaution. Expect the unexpected and set some money aside each week to cover any surprise expenses that might pop up, such as emergency medical bills. Replace any bad money habits with good ones now, so you can start your thirties off on the right financial foot.
Raise that credit score
You know you’re 30 when you suddenly care more about your credit rating than your Uber rating. So, if you currently hate your 20-year-old self for always waiting for the final notice letter to come before paying the bills, then it’s time to start repairing the damage.
Make a solid effort to pay your bills and repayments on time so you can get your credit score in good shape. Trust us, you’ll be thanking yourself one day when you’re trying to get approved for a mortgage.
Think rich to get hitched
As you can see, financial maturity is about being prepared for whatever life throws your way. And like we said, if you’re not already married with kids at 30, then it’s probably only a matter of time before cluckiness gets the better of you!
But weddings and babies don’t come cheap, so it’s never too early to start saving up to settle down. Traditionally, the bride’s parents’ would pay for the wedding, but nowadays that’s not always the case.
And if money has you reconsidering the whole thing, then you might want to look into taking out a wedding loan to cover the upfront cost then gradually pay it off over time.
Start saving for someday
What do you want your life to be like in another 30 year’s time? Without a financial care in the world, that’s for sure! Retirement might feel like another lifetime away when you’re 30, but, really there’s no better time to start setting the foundations for the future.
Stash aside some money as often as you can to build up a fund for your future self. Every bit counts! A few small steps now can have a huge impact on your future, and allow you to retire with ease and have the financial freedom to spoil your future grandchildren!
About the author:
As a Mozo Money-writer, Rhianna Dews arms consumers with the tools needed to take control of their personal finances by decoding complex industry jargon and turning tricky finance topics into practical tips and tricks.