83 Money Moves To Make Before You Are 30 Years Old

This is an article from one of my favorite websites: OWNTHEDOLLAR.COM

Lets face it… there are some things that you need to do now if you want to be rich in the Golden Years of your life. If you want to retire and eat something other than Ramen noodles and live solely off of your Social Security benefits, you need to start planning for your retirement now. There are things that you need to do with your money, personal finances, and investing in order to set yourself up for success later in life.

It is a shame that you have to think about these things right after graduating from college and/or entering the workforce, but you do. The sooner you start making these essential money moves in the early portion of your life, then you will be positioned for success later when you actually have and need money for retirement.

Top 83 Money Moves To Make Right Now…

  1. Stop using credit cards
  2. Pay off your credit cards and other consumer debt
  3. Pay off your credit cards on time and avoid the high late fees
  4. Never have a revolving balance on your credit cards again
  5. Ask for a lower interest rate on your credit cards
  6. Use a charge card you pay off every month and earn rewards points
  7. Start investing in a mutual fund with a Roth IRA
  8. Invest enough in a 401-k to get your company’s matching contribution
  9. Invest in index funds
  10. Invest in no load mutual funds with low fees
  11. Spread your investments around with diversification
  12. Invest using dollar cost averaging
  13. Don’t invest in crazy, exotic investments
  14. If you are going to use a CFP, find one you trust
  15. Bounce ideas off of your CFP
  16. Hire an accountant for your taxes if you get overwhelmed
  17. Have a written monthly budget
  18. Track what you spend ruthlessly every month in order to find places to save
  19. Set financial goals and revisit them often
  20. Double check your W-2 Tax Statements for needed changes
  21. Spend any income tax refund wisely
  22. Change your W-2’s to ensure that you do not get back much in the way of a tax refund
  23. Spend less money than you earn every month
  24. Make all your monthly bills automatic to pay
  25. Check your credit report every year
  26. Protect yourself against identity theft
  27. Safeguard your personal information (on paper & on the internet)
  28. Check all three credit reports when making a large purchase
  29. Understand how your FICO credit score is calculated
  30. Protect your FICO credit score
  31. Stop bouncing checks
  32. Pay yourself first with investments
  33. Start tracking your net worth
  34. Have three to six months of expenses in an emergency fund
  35. Nickname your savings accounts for your goals
  36. Write your goals down
  37. Write notes on those little credit card sleeves to keep you from spending
  38. Save for major purchases
  39. Start saving in January for Christmas
  40. Consider earning a greater rate of return on savings with Peer-to-Peer Lending companies such as Lending Club or Prosper.
  41. Consider investing in Dividend Reinvestment Plans (DRIPS)
  42. Don’t give up on renting an apartment in favor of buying a home
  43. Consider a 15 year mortgage instead of a 30 year one if you can afford it
  44. Negotiate your mortgage interest rate for a huge savings
  45. Check out your neighborhood before moving to a new home
  46. Try to marry the right spouse (divorce is expensive!)
  47. If you are going to buy a new car, buy one, don’t lease
  48. Buy a car with a 48 month note
  49. Don’t buy an automobile extended warranty
  50. Don’t go out to eat every night
  51. Shop at the grocery store with a list and not while you are hungry
  52. Shop around for disability insurance if it is not offered by your employer
  53. Make sure that you have enough life insurance
  54. Consider buying additional term life insurance
  55. Avoid whole life insurance like the plague
  56. Keep your resume polished at all times
  57. Continue to network with peers, coworkers, professors, etc.
  58. Join networking websites like LinkedIn
  59. Learn etiquette for business dinners and interviews
  60. Pick a career as soon as you can
  61. Learn as much as you can about your career and become an expert
  62. Work as hard as you can and don’t shirk at your job
  63. Don’t borrow money from a payday lender
  64. Bundle up your internet, phone, and cable
  65. Use your cell phone and skip the landline
  66. Do not use ATMs that are not your bank’s
  67. Buy generic medication
  68. Practice being frugal wherever you can
  69. Be cautious when making home improvements in order to ensure you will earn your money back when you sell
  70. Don’t beat yourself up about your financial mistakes that you make. Learn from them.
  71. Don’t buy gold from late night television
  72. Take a brown bag lunch to work
  73. Continue learning and earning education, credentials, certifications, etc.
  74. Don’t cash out a Roth IRA before you are 59 ½ years old
  75. Try not to take out a 401-k loan unless absolutely necessary
  76. Teach personal finance skills to your children as soon as you can
  77. Open a 529 college savings plan for your children when they are born
  78. Buy used books, movies, CDs, and video games from websites like Half.com
  79. Earn points for everyday purchases you make through websites like Upromise
  80. Use coupons where you can
  81. Read as many books and educational materials as you can
  82. Follow great people on Twitter
  83. Read as many blogs as you can


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8 responses to “83 Money Moves To Make Before You Are 30 Years Old

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