When I moved out of my mom’s house when I was 23, my greatest fear was having to move back home – again. In turn, I did everything I could to stretch my $1,800 a month take-home pay. By being frugal, taking on side hustles, and saving as much as possible, I was able to both squeak by and sock away a bit of cash each month. It was no easy feat, but it was doable. Remember: You don’t have to live in a van to save. Even small steps can help, like switching to a bank that doesn’t charge fees and negotiating for a lower Internet bill. Fast forward to the present. Now that I’m in my 30s, I know that my frugality and hard-core money-saving ways paid off. Yet, there are quite a few things I wish I told my 20-something self about money. To up your money game, here are a few pointers on how to manage your finances during your 20s versus your 30s.
While in your 20s, you were laying the groundwork to save and invest. In your 30s, however, you’ll want to start thinking about growing your money. There’s no single way to approach this. It depends on your personal situation, existing resources, and lifestyle preferences. For example, perhaps you want to buy your first home, or get serious about investing in the stock market. This is your time to make decisions to grow your money.John Frank