She Strengthens

Shaping My Financial Future: Mastering Key Money Habits by 30

As I gaze into my financial crystal ball, uncertainty stares back at me. Will I be married, living abroad, or settled in a cozy home? The future is murky, but one thing is clear – I want to develop solid money habits to ensure a secure financial foundation. With this in mind, I asked 15 people in their 20s about the money habits they want to master before turning 30.

Breaking Free from Financial Anxiety

Maggie, 24, wants to overcome her tendency to overthink every purchase. Despite having a good income and savings, she’s plagued by worries about money. By 30, she hopes to adopt a more positive money mindset.

Saving and Budgeting: The Dynamic Duo

Kelly, 24, aims to prioritize saving and budgeting. She acknowledges that she doesn’t rack up credit card debt, but wishes she could save more each month. Her goal is to make saving a regular habit by 30.

Small Changes Add Up

Caroline, 28, wants to break her daily coffee shop habit, which costs her around $100 per month. By making coffee at home, she’ll save money and develop a healthier financial habit.

Traveling on Points

Dev, 24, dreams of paying for flights using airline points or miles. By tracking his mileage and using a travel credit card, he hopes to score at least one free trip to the west coast each year.

Streamlining Savings

Katie, 26, wants to create dedicated savings accounts for specific purposes, such as an emergency fund, vacation fund, and long-term savings. This will help her stay focused and avoid dipping into her savings for non-essential purchases.

Preserving the Emergency Fund

Meghan, 25, has mastered direct-depositing part of her paycheck into a savings account, but often needs to tap into it for non-emergencies. Her goal is to cover her budget without touching her emergency fund by 30.

From Paycheck to Paycheck to Savings

Samantha, 23, lives paycheck to paycheck and wants to develop a regular savings habit. She hopes to break the cycle of living on the edge and build a safety net.

Maxing Out Retirement Savings

Jenn, 28, aims to consistently max out her Roth IRA each year. Although retirement seems far away, she knows that starting early will pay off in the long run.

Paying Cash Upfront

Joe, 25, wants to avoid taking out car loans and pay for his next vehicle in cash. This will eliminate a significant drain on his budget and give him a sense of financial freedom.

Ditching Credit Card Debt

Ryan, 26, hopes to be debt-free by 30. Currently, he struggles with keeping a balance on his credit card due to his low income as a graduate student.

Passive Income: The Holy Grail

Karen, 26, dreams of generating passive income by buying a duplex and renting out half of it. This will provide a steady stream of income and pave the way for true financial independence.

Taking Control of 401k

Sadie, 29, wants to take a more active role in managing her 401k. She plans to research investment options and regularly check her account to ensure she’s on track for retirement.

Joint Financial Planning

Ashley, 28, hopes to master joint financial planning with her partner by 30. This includes regular financial check-ins, discussions about shared goals, and organizing their joint account.

IRA Contributions: A Weekly Habit

James, 26, wants to contribute 10% of his income to an IRA by 30. He finds it more manageable to break it down into weekly portions, making it a sustainable habit.

Saving for a Dream Home

David, 27, and his girlfriend aim to save $500 each month for a down payment on a house. They hope to develop this habit within the next six months, ensuring they’re well-prepared for their future home purchase.

By mastering these money habits, these individuals will set themselves up for long-term financial success and security. As I reflect on my own financial goals, I’m inspired to take control of my money habits and shape a brighter financial future.