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10 Money Goals Everyone Should Reach by 30

kristinabyas profile picture
Kristina ByasGuest Blogger
June 15, 2016 · 3.1k Views

Life is great when you're young and have very little to worry about. With almost no responsibilities or bills, what money you do happen to make from your after school job will likely be spent on outings with friends, food, clothes and electronics. As you grow and start to build a life for yourself, you will soon realize the importance of money management and that setting goals will be very helpful to you and your wallet.

If you're nearing thirty, you may want to double check that you are on the right track and close to reaching one or more of these money goals.


1. Stop impulsive buying

Source: Wien

At 30, many people should realize how negatively their life can be impacted by impulsive buying. Sure, that pair of shoes from Nordstrom staring you directly in the face is nice and seems like a steal because it's 30% off, but at the end of the day, you may want to keep the money in your wallet and use it on something you really need.

2. Smarter budgeting

If you have settled into your career, you should have a good idea of what your monthly income is by this point. Even if you have switched careers and your income doesn't seem to be the same every month, you will want to be better at budgeting. Creating a budget is a great way to ensure that you can afford the things you want. Ideally, you want to be able to pay your bills and purchase the things you need to survive. Everything else is just extra, and unless you actually have the money to purchase it, you shouldn't be buying it.

SEE ALSO: How to Start a Budget and Be Outrageously Successful with Money

3. Master paying bills on time

Source: How Stuff Works

When you're younger, you may not completely understand or even care about the consequences of paying your bills late. By the time you are 30, there should be no such thing as paying bills late. Between the late fees and the negative impact it will have on your credit score, there is no room for making such mistakes, especially when you are aiming to purchase a home, car, or other things that will require you to have decent credit.

4. Saving for retirement

There will come a day when you will not want to work anymore and will be looking to relax and enjoy your life without being required to punch a timeclock or answer to anyone. Retirement is great, but it can only truly be enjoyed when you have planned and have money put away. It is never too early to start saving for retirement, so if you haven't yet, start putting away a little bit of cash every month. It doesn't need to be a big amount because it will add up over time. Remember, something is better than nothing.

5. Start an emergency fund

Source: Inc.

Rainy days are going to come, so it is best that you get prepared for them. The reason many people struggle so much when something happens to them is because they don't have the cash needed to help them recover. If your car breaks down and you need to buy a new one or you experience a situation that will require you to pay for something, you want to know that it won't set you back.

SEE ALSO: 10 Tips for Building an Emergency Fund & Why It's So Important

6. Actively working to pay off student loans

If you have student loans, you will want to make sure you are making your monthly payments and decreasing the amount you owe. Depending on when you graduated, you should be at least half way through your 10-year sentence and have about half of your debt remaining. If you have been making more than the minimum payment, you may be one or two years from ridding yourself of this bill, which would be a great thing to celebrate, along with turning 30 years old.

7. Saving to purchase a home

Source: U.S. News

This may not be everyone's dream, but for those who want to stop renting and would rather own their home, you will want to have started saving. This is a large purchase, so the more money you have to put down the better. Just as easily as you can put money away for retirement or your emergency fund, you can put money away for your future home. Set a goal amount, put money away every week or month, and watch your fund grow as you work toward your goal.

8. Pay off credit card debt

Many people decide to get a credit card when they turn 18 and go off to college. In fact, some people may even get two or three cards. The temptation to swipe and forget about the bill is very strong, which is why many are left with thousands of dollars to pay off. Hopefully, by the time you are 30 you will have learned your lesson about credit cards and paid off whatever money you owed.

9. Have more than one source of income

Source: Invoice Ninja

It is fairly easy for people to become content with having one source of income. It can definitely be nice, but what happens when that source dries up and you are left living off of your saving? No one wants this to happen, which is why it is wise to have more than one source of income. If you work in an office all day, but make jewelry as a hobby, you could sell it for some extra cash. You don't need to match the amount you're currently making annually, but just enough so that you won't panic if you were to lose your job.

10. Know your financial health

What is your net worth? If you can't answer that question then you will want to figure that out as soon a possible. You will want to know where you stand financially at all times. Look at your assets and liabilities to help you determine your net worth and financial health.

Money is a sore subject for some people, but it is often because they have not yet learned how to manage it. Anyone can become stressed out when talking or thinking about money, which is why they need to realize that having better control and setting goals will benefit them. The years go by fast, so the sooner people learn that setting goals and actively working toward them is a surefire way for them to have the things they want, the better.


kristinabyas profile picture
Kristina Byas is a Milwaukee native who has written for Female Intel, Shepherd Express, Scandalous Women and more. She suffers from a severe case of wanderlust and has difficulty purchasing items at full price. You can learn more about her by following her on Twitter: @KristinaByas

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