10 Financial Rules Before Age 30

29 NOV , 2022

1. Track Your Spending: Knowing how much you spend and on what keeps your spending in check.

2. Live Within Your Means : Keep your standard of living below what your earnings can accommodate. As you advance in your career and gain more experience, your pay should increase.

3. Don't Borrow to Finance a Lifestyle: Borrowed money should be used when your gain will outrun your borrowing costs.

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4. Set Short-Term Goals: Life holds many uncertainties, such as an economic crisis or the loss of a job, and much can change between when you are in your 20s and, say, 40 years later when you may retire.

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5. Become Financially Literate: Making money is one thing, but saving it and making it grow is another. Financial management and investing are lifelong endeavors.

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6. Save What You Can for Retirement: When you're in your 20s, retirement likely seems a lifetime away, and planning for it may be the last thing on your mind. If you can take a few steps now to start saving, compounding will work in your favorur.

7. Don't Leave Money on the Table

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8. Take Calculated Risk Taking calculated risks when you are young can be a prudent decision in the long run.

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9. Invest in Yourself: Look at yourself as a financial asset. Investing in yourself will pay off in the future.

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10. Find the Right Balance Striking a proper balance between your life today and the future is also important.

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