Your 30s are filled with milestones and life-changing experiences. It’s a time when the things you learn start to become habits and when financial decisions can either lead you to great success or become a problem for you in the future. It would be great to have perfect planning so that you will know the best decision to make in every situation.

Here are some tips to avoid those financial mistakes:

Living on credit cards

Be grateful if you have not gotten deep into debt, and avoid it like it is a virus. Living on your credit cards is a desperate game to play with your finances. At some point, you have to pay for your purchases, and that usually means using all the savings you have saved. If you have already exhausted your savings, you may start the cycle of missing payments and opening new credit card accounts. Living on your credit cards will only lead you to live paycheck to paycheck, which is a very difficult habit to break once established. Left unnoticed, this practice will ultimately destroy your credit score as well.

Failing to set financial goals

 If you never stop to think about what you would like to accomplish in five or 10 years, it is likely that you won’t accomplish anything by the end of that period. The very act of identifying and setting financial goals for yourself in your life clarifies your choices and helps you naturally focus on ways to reach your goals. Failing to set financial goals can create pressure later on as you realize that you have to work harder to make any sort of progress towards what you want in life.

Not contributing to your retirement

 One of the most crucial mistakes you can make is not to save for your retirement as early as possible. It is easy to think that retirement is too far away and that you should be saving for more immediate goals like getting a car. You must start saving for retirement when you land your first job. If you don’t have the discipline to save for retirement, you may end up spending your entire salary and not saving for a car or anything else either. This is a difficult mistake to recover from that could cost you so much or more in the long run.

The best thing about being young is that time is on your side. You can recover from money mistakes more easily and enjoy a bright future, but making good financial decisions starts with learning about money and being willing to take responsibility for your own financial success.

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