5 Things You Need To Know About Money Before Age 30

If the blogosphere is correct, 30 is the new 20.

Even if that is true, when it comes to finances – it doesn’t mean you should keep making the mistakes you made in your twenties.

Once you hit dirty thirty you’ll want to make sure you’ve mastered certain aspects of personal finance.

We’ve detailed a few below.

1. Automation is your friend

We have a certain amount of reserves in our cognitive wells. Making smart financial decisions is less about willpower and denying yourself nice things than it is about taking away the responsibility of making numerous financial decisions every day.

Instead, your focus should be harnessed towards building a SYSTEM that doesn’t make you think. Do all your thinking on the front-end, about what the system is going to look like and where money will go and then let it take care of saving/investing for you.

Blooom - Free 401(k) Analyzer
How does your 401k grow?

Blooom allows you to see how your 401k stacks up in minutes. Wall Street has made a habit of running in the opposite direction of investors with small accounts. Blooom is making financial advice smart, simple and affordable for the rest of us Get a FREE checkup now.

This means you have to come up with a custom solution that serves your needs. One person might love traveling and set a goal of saving $200 every month towards fulfilling their wanderlust; someone else might really value nice shoes and want to allocate money towards that.

The other thing you’ll want to take care of is your bills. Set up automated transfers for everything possible; electricity, car or phone payments can all be set up to be paid automatically. That’s hassle-free finance that frees up time for more important things.

2. Understand compound interest

This one is important because of the change in perspective that comes with figuring out how compound interest affects you.

As you enter your thirties, you’ll realize that time is a non-renewable resource. You can’t make up for time but you can definitely take advantage of it.

What is compound interest? Albert Einstein called it the ‘eighth wonder of the world’ but it’s essentially interest…on interest. If I loan you money then I expect you to pay it back plus interest. That’s simple interest; simple because it happens just once. With compound interest, interest is paid in each of the “compounding periods”.

Because interest is paid out multiple times, a funny and awesome thing happens as time passes. The rate at which that money grows increases. It’s like a car that’s slowly picking up speed on a long highway.

Here’s a basic example of how compound interest works.

A 25-year old can save $5,000 every year for 20 years (that’s $100,000 total). If he invests that money and earns some sort of return, said 25-year old could more than double his money!

Assuming a yearly return of 7% (about the long-term average of the S&P 500) then he would have nearly $250,000 at the end of 20 years…hm.


So compound interest means you end up with more, but when you save is also a huge determinant in how much you end up with. So a 25-year old that starts saving at the same time as a 35-year old will end up with much more for retirement (assuming they both retire at the same age).

3. Everything can be negotiated

It’s easy to fall into the thinking that just things won’t change because “that’s just the way they’ve always been”.

On the contrary, you have more ability to affect the outcome of events than you know.

Here’s what I mean. When’s the last time you called up your cell phone, insurance or credit card provider and asked for a discount?


Look, it’s all about how you ask and how you arm yourself with solid info before you call. Companies know that it’s easier tomake money off a retained customer than it is to go find a new one. It’s that simple. It costs money to acquire new customers and most companies will try to do their best to keep you on the hook. You can use that to your advantage.

You could ask to get your annual credit card fee waived. You could call your mobile service provider and ask if there are any cheaper plans (that aren’t being advertised) that you could switch to. If you get a weird fee from your bank – just call them up and ask them to remove it. Many times they’ll just do it, no questions asked!


If you did this once a year, you could save anywhere from $25-100 a month. You could buy a lot of tacos with an extra $25-100/month.

The other part to negotiating has to do with work. Always negotiate your salary when you start a new job. Always. Again, you have to arm yourself with the information that will help you succeed. (You don’t just go in and ask for more – you have to negotiate). The idea behind this is that negotiating a high salary obviously translates into greater wealth – every month you are benefitting from the negotiated increase. Amazing.

4. Have an emergency fund

This is majorly important! Some studies cite that only 1 in 3 millennials have enough money in the bank for a surprise car repair or unscheduled trip to the E.R.

The problem is that a single large, unplanned expense can send you into tailspin of debt for a long, long time. You need that financial cushion.


Bake that into your automated savings and your future self will thank you for it. Aim to save at least 6 months’ worth of living expenses. Whether you unexpectedly lose your job, break your leg or rear-end someone on the I-94 you’ll at least be covered financially.

 5. Pay off debt

While compound interest can be a boon to savers, it can also be a hindrance to those in debt. Compound interest can also work against you. If you owe a ton of money in credit card bills and don’t pay it off in time you are charged a fee (interest). If you don’t take action, then you are penalized again (interest on interest). Let this happen enough times and you’ll quickly find yourself in an unpalatable situation.

Live beneath your means and you’ll be a happy camper. Take every measure to pay off debt as quickly as you can. If, for some reason, you’re unable to pay, the worst thing you can do is to avoid the situation. Better would be to call up your creditors and try to work out a solution that benefits both parties. People are willing to work with you – especially when it comes to money.

Remember, everything is negotiable.

Your money is the rest of your life. Learn these 5 things before you turn thirty and you’ll have a strong foundation on which to amass future wealth.

Go forth and be rich!





January 2, 2021 Update: We have just announced our BEST STOCK NEWSLETTER of 2020 AWARD!

CLICK HERE to find out which stock newsletter was up 78% in 2020 (and whose 2019 picks are now up 113%).

*** Our Award for BEST STOCK NEWSLETTER of 2020 ALERT ***

Updated January 2, 2021

At WallStreetSurvivor, we subscribe to dozens stock recommendation and advisory newsletters. There is ONE newsletter that is constantly outperforming all of the others--The Motley Fool Stock Advisor.

Five of their 2020 stock picks have doubled and the average return of all 24 of their stock picks for 2020 is up 78%!

We have been tracking ALL of the Motley Fool stock picks since January 2016. That's 5 years and 120 stock picks. As of Friday, January 1, 2021 the Motley Fool's January stock pick (TSLA) is up 720%, their March pick (ZM) is up 172%, their April pick of SHOP is up 226% and their June pick CRWD is up 120%; and another two have more than doubled. In addition, 10 of their 2019, 12 of their 2018, 11 of their 2017, 15 of their 2016. Most impressively, over the last 5 years that we have been tracking every recommendation, their average stock pick is up 209%--tht means over the last 5 years their stock picks, on average, have TRIPLED!

Now no one can guarantee that their next picks will be as strong, but our 5 years of experience has been super-profitable. The important thing about the Fool stock picks is you have to buy them the day they are recommended because they usually pop 5-10% in the first 72 hours after the release their recommendation. You sure don’t want to risk missing out on their next pick.

Normally the Fool service is priced at $199 per year but they are currently offering a NEW SUBSCRIBER DISCOUNT that allows you to get theiir next 24 stock picks for just $99/year. HERE is the LINK to visit their New Subscriber Discount page.

CLICK HERE to get access to all The Motley Fool’s Stock Picks and their next 12 months of picks for just $99 per Year! 



Robinhood was the first brokerage site to NOT charge commissions when they opened in 2013. They just past 10,000,000 accounts and to celebrate they are offering up to $1,000 in free stock when you open a new account.

Here’s the details: You must click on a special promo link to open your new Robinhood account. Then when you fund your account with at least $10, you will receive one stock valued between $5 and $500. Then, you will get a link to share with your friends. Every time one of your friends opens an account, you will receive another free stock valued between $5 and $500. Click here to learn more about this Special Robinhood offer.

Claim your free stock NOW (before it’s too late)

One response to “5 Things You Need To Know About Money Before Age 30”

  1. prosper says:

    Nice Post.Very informative and useful.Thanks for sharing.