Posts Tagged 30s

Credit Cards And Money In Your 30s

May 24th, 2009

impulseshoppingIf you’re in your 30s, you’ve probably had some amount of experience with credit cards.  Most likely, you’ve held a job or two, perhaps even started a business during the previous years.  Hopefully, you have started putting money away for the future, even though it wasn’t quite clear in your 20s what you’re supposed to be saving for.

1. Keep your credit card life simple

Put succinctly, make sure you live within your means.  If you’re the type to spend a little too wildly in your 20s, you’ve probably experienced the sting that excessive credit card use can do to you.  Should that past mistake be a little too serious, you might still be experiencing some of its repercussions.

In your 30s, try to keep a more level head about the way you use credit.  If you really can’t afford an apartment in the city, then don’t charge your living expenses to your credit card just so you can pursue it.  When a flashy car just doesn’t tally up in the spreadsheet, don’t force it on your credit.  Keep it simple – you’re getting old and there’s just too little time to waste on making more serious mistakes.

2. Clean up your debt

The 30s is the best time to start putting your money in tangible things, such as a house or an investment portfolio.  The less debt you have, the more of your resources you can allocate towards those important things.  As such, do your best to make it happen.

3. Start thinking about the distant future

While your retirement is still a long time away, almost every financial expert will tell you that this is the critical period for you to start on the road preparing for it.  While we’d rather ignore the signs, it’s inevitable – we’re inching closer to it.