10 Steps to Secure Your Financial Future by Age 30

Finances are an integral part of our lives as housing, food, clothing, and other essential items all cost money. To live with a decent income rather than just getting by, one must take action instead of sitting still waiting for a miracle. As the saying goes, "water does not flow under a lying stone." Even for that "miracle" to happen in life, some measures need to be taken.

Oftentimes, we watch movies with happy endings where the main character stumbles upon a large sum of money or buried treasure. Or they are unexpectedly offered a dream job without the necessary qualifications, yet everything falls perfectly into place for them. Or a person simply dives into something they've never done before and unexpectedly realizes that this is where their talent lies, which they have been trying to uncover within themselves for a long time.

Many of us would not refuse such a fortunate turn of events that seemingly require no effort on our part at first glance. However, the moments leading to such a successful outcome often remain behind the scenes for us. Logically, to find a treasure, be offered a dream job, or uncover your talent, you need to at least get off the couch and go outside where you can be noticed. At most, you need to set specific goals for yourself and do everything necessary to achieve them.

Next, we will look at 10 points that, if achieved by the age of 30, will help you properly manage your finances and have confidence in your future.

1. Become Financially Independent from Your Parents

It is important to become financially independent from your parents. Otherwise, not only will they consider you a child, but you will too. Achieving success in life while being perceived as a child is nearly impossible. Therefore, it is in your best interest to learn as early as possible how to provide for yourself and show your beloved parents that you can take care of not only yourself but also them.

2. Pay Off All Your Debts

Everyone understands how burdensome debts can be, so it is essential to pay off all your debts as much as possible and learn to live within your current means. If you want to buy something or go somewhere but your available funds don't allow it, you should not even consider borrowing money. It is better to think about where to earn the extra cash. Borrowing money from friends is also a bad habit since a true friend will certainly help you in a difficult moment, but such situations, especially if they are frequent, can have a negative impact on your relationships.

3. Repay All Loan Debts

Loans taken from banks or similar institutions are also debts that should be settled as soon as possible. People are always insatiable, always wanting something more, something they cannot afford. This leads us to take out loans to buy what we think are essential items for living.

However, after some time, the euphoria of the long-awaited purchase fades, but the debts remain. Realizing that for the next several months, or even years, you will be paying a substantial amount to the bank, a large part of which consists of interest for using credit funds, this idea will no longer seem so wonderful. Therefore, by the age of 30, it is necessary to repay all loans and understand that achieving financial independence through a life of credit is impossible.

4. Start Learning and Practicing Investment

It is also a wise decision to invest in various aspects of our lives. It is crucial to thoroughly and meticulously study the subject. Even if you already have bank investments, additional investments will not be redundant as they can bring not only a small additional income but a steady one that can be increased in the future.

5. Stop Making Emotional Purchases

By age 30, you have some experience, so it's time to end emotional purchases, where you spend money just for entertainment. In reality, you don't need these things, but at that moment, you feel some impulse and buy them. Nowadays, there are many specialists who, through the study of human brain features, come up with more ways to push us towards impulse purchases. To avoid such situations, create a list of necessary items before going to the store and refrain from buying anything extra.

6. Set Yourself an Important Goal and Start Achieving It

It's time to set yourself a truly important goal, one that may seem unattainable at the moment but one you've been dreaming of for years. So why not consider what you can do right now? Start by setting smaller goals that need to be overcome on the way to the ultimate goal, and make every effort to achieve them. This way, at least you won't regret not doing things you could have done.

7. Stop Comparing Yourself to Others and Build Your Own Life

And finally, stop comparing yourself to other people, thinking that your classmates or peers have achieved greater success by the age of 30. This is foolish because none of them will honestly tell you the sacrifices they had to make, what they had to give up, perhaps compromise their principles or conscience. Externally, their lives may seem perfect, and at some point, you may want to be in their shoes, leading you to criticize yourself for not having their seemingly ideal life.

However, remember that everyone's life is unique, and that's the beauty of it. Stop mourning your failures and envying others as it does not bring you closer to your true goal but only takes away valuable time. Instead, channel your efforts to achieve your successes.

8. Keep Learning

Invest in your personal growth and education as it is an excellent investment. It is never too late to learn something new. The crucial thing is for that "new" to be genuinely useful and applicable in your life; otherwise, you will simply waste money and time.

9. Learn to Spend Wisely

At 30, irrational payments that a 20-year-old can afford are an unnecessary luxury. For example, instead of withdrawing money from an out-of-network ATM, where there is a service charge, it would be wise to find another ATM. Initially, such action may seem insignificant, but it will teach you to save where possible and avoid unnecessary expenses.

10. Have the Right Attitude Towards Money

Understand that money is simply pieces of paper used as a medium of exchange. Therefore, devoting your whole life to acquiring money, essentially spending all your time and health on it, is a bad idea. Money itself has never made anyone happy. If there are no people around whom you want to share it with, or your physical and mental state does not allow this sharing, then no financial success can bring happiness.