10 things everyone should do before 30 to improve their financial lives

image

Whether it’s due to helicopter parenting, growing up in rough economic times, or some combination of both, millennials are not thriving economically. It is becoming such a problem from older millennials like myself who have been out on their own for a number of years, that people are actually cashing in on our generation’s lack of preparation. I was listening to an NPR piece about an “adulting school” where young adults can enroll in classes to learn basic skills like folding fitted sheets (seriously!), creating a budget, cooking basic meals, understanding banking, etc. People enroll in those courses because they don’t know where to start. So today, I’m offering you a starting point: a list of what you should have a handle on to ensure a smoother ride. At least, if you do decide to enroll in adulting school, you’ll know exactly what classes will fit your needs.

  1. Have emergency savings of at least $1,000
  2. Be free of credit card debt
  3. Have concrete goals for the short, intermediate and long term
  4. Start saving for retirement
  5. Learn to cook 5 nutritious meals
  6. Learn investment basics
  7. Have a budget and stick to it
  8. Be adequately insured
  9. Give up instant gratification
  10. Improve your credit score

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s