Quantcast

Money Goals You Should Hit Before 30

Be proactive rather than reactive with your money.

Finance

We all know that abusing a child is wrong. Dead wrong. But I wonder how many parents consider not properly preparing their children to be financially-stable and responsible adults as its own form of abuse; especially if you take into account a Dr. Phil definition of the word that I really like — "Abuse is 'abnormally using' something."

I know that growing up, this wasn't the biggest priority in my home and boy did I have to learn some lessons the hard way once I was out on my own. Don't bounce checks. Don't get a credit card without a job (heads up on that, college freshmen). SAVE MONEY. If you're going to be a freelancer, hire an accountant. The list goes on and on.

media.rbl.ms

Hmph. Apparently, I'm not alone because according to "This Is How Much Debt the Average American Has Now—at Every Age", people my age (I'll be 45 this year) are, on average, $133,100 in debt. Folks who are under 35? At least $67,000.

You don't want to wait until you're my age (or your parents' age) to start caring about how to handle your coins because when you're financially ill-prepared, life has a way of beating you up (and down) like nothing else can. That's why, even if you're in your 20s, trust me, you want to be vigilant about setting a few money goals so that you can be proactive rather than reactive with your money.

In my opinion, here are 10 to put on your priority list:

You Need a Weekly, Monthly and Annual Budget

media.giphy.com

I have a friend who's accountant told him that he's been wasting thousands of dollars annually on eating out. It's so out of control that he's been placed on a dine out budget. Although that might sound crazy to you at first, dig this. It's been reported that if you spend even $100 per month on takeout, that's $1,175 a year!

This is what happens when you spend without a budget. If you want to keep your bills paid (on time) and have a leg up on not accruing debt, it's important to have a weekly, monthly and annual budget. Your weekly one should consist of things like gas and food. Your monthly one should focus mainly on your bills. Your annual one should be all about big purchases and vacations.

If you need a little help putting a budget in place, there are some cool budgeting apps here.

Feature image by Getty Images.

Originally published on February 8, 2019

Next Page

This article is in partnership with Xfinity.

Those who have experienced an HBCU homecoming understand the assignment. Students, alumni, and family of a Historically Black College and University gather to partake in the excitement of celebrating the heritage and culture of the school. It's a time of joy, honoring traditions, and for some, reflecting on the good ol' days. Homecoming weekends are spent eating well, laughing plenty, and enjoying the sights; and there is plenty to see! (Spoiler alert: Sleep is not on the syllabus.)

Keep reading... Show less
The daily empowerment fix you need.
Make things inbox official.

Summer is coming to an end, and it's officially time to start the fall activities. And with the start of a new season comes new movies and shows. One, in particular, is the final season of Netflix's Dear White People, airing September 22. A great thing about this show is that it sparks healthy conversation. Past seasons have explored topics like double consciousness, sexuality, and the Me Too Movement, but it's done it in a way that still allows the show to feel relatable and fun.

Keep reading... Show less

Period pain. Lawd. Could there be something that is more annoying, especially since it happens every 28-30 days? Like, c'mon. If you've ever wondered about the science behind it all, basically, we need our uterus to contract, so that it can shed the lining that accumulated, just in case we conceived in between cycles. And so, what basically happens is, the prostaglandins levels in our system increase which trigger inflammation and also period pain, so that the blood is able to flow from our bodies.

Keep reading... Show less

One of my favorite things about the changing seasons are the new vibes and new energies that change welcomes with it. September represents a transition from the white sand beaches, bottomless brunches, and undeniable romantic vibes long nights, festivals, and impromptu road trips often thought of when we think about the summer. In its place comes romanticism in a different approach. Pumpkin spice anything, the excuse to cuddle up, and the leaves of the trees turning warm shades sparks joy in a different way as fall begins. Perhaps what I am most excited about though are the 2021 wellness trends that come with it.

Keep reading... Show less

A few days ago, I was having a conversation with some folks about songs that should've been official singles yet never were. One of the ones that I shared was Mariah Carey's "All Alone in Love" (a song that she wrote when she was only 15, by the way). To me, it's a perfect way to intro this piece because I have had enough personal experiences and counseled enough people to know that it is very possible to be in a relationship with someone — and still feel quite alone in it. Not because your partner doesn't love you. Not because they're up to some totally f'ed up shenanigans. It's just…even though you signed up for a true and lasting partnership, somehow you now feel some of the very words that define what being alone can feel like: unattended, detached, unassisted, semi-compassionless and perhaps even abandoned on some levels.

Keep reading... Show less
Exclusive Interviews

Exclusive: Lucky Daye Is Doing It For The Culture, From The Soul

Every so often, an artist comes along who seems to be a physical manifestation of all that we are.

Latest Posts