This post by Gretchen at Retired By 40 lists several financial accomplishments that everyone should achieve by age 30. I’ll admit, I was a little nervous before reading it. I’m 24, and I have my own financial goals that I’m working on completing. I was interested to see how I’d stack up. Once I read it, I was pleasantly surprised! Do I have all of them done? No. But I have been building up my savings, paying off debt, saving for a down payment on a home, and actively trying to bump up my credit score. Here are more of the goals:
-Set up an emergency fund of at least $1,000- ideally, grow it to 3-6 months of expenses.
-Automate- set up your account so it sends a chunk of your paycheck to your savings automatically. Get in the habit of paying yourself first.
-Determine what your priorities are, and stick to them. Do you want to save for a house? Travel? Have kids? A big wedding? What items do you like to splurge on? Put aside money for these personal goals.
-Max out your 401(K), contribute as much as possible- don’t leave money on the table!
So, have you accomplished all of these? Some? Any?