It’s not a fun thing to do, but you can avoid going into major debt by creating a budgeting worksheet. Record your income, fixed monthly expenses (bills, rent, mortgages, loans, etc.), variable expenses (groceries, nights out at the local dive bar) and balance them out. Review your budget on a regular basis.
People at the age of 30 should definitely know about taking responsibility for their actions. When you are young, you have your parents to direct you in the right way, so to speak. When you grow up (and by the age of 30 everyone is), then it's time to take responsibility for your actions. You can't blame others for your actions. You can, but you definitely shouldn't.
Learn some basic personal finance knowledge and stop expecting other people to bail you out of financial hardship. Take care of yourself.
- Do your best to save at least 10% of your take home, 20% is ideal. Always have a minimum of 1 month's living expenses in savings, 3-6 months ideal.
- Don't rely on your employer to take care of you forever. They will drop your ass as soon as it makes sense financially for the business. Find a side gig that can build more financial security. Examples are real estate investment or stock market.
- Live below your means. You should, or be trying to get to a point where, all your primary expenses (rent, utilities, groceries, car payment, insurance, gas, etc.) fall under 50-60% of your income. If you get a promotion, use the boost in income to drop into your savings or invest in appreciating assets. You don't need that new car pal.
You will appreciate following these rules when you're able to retire at 50 instead of 63.
Foresight . By that age you should realize that majority of things do not happen randomly. Your life in the future depends on your decisions today. Luck is only and outlier that you should never rely on so often.
You can argue to this seems to be an automatic skill for most people just like common sense. However, it only becomes a skill when you actually use it.
Communication. It seems that stepping out of your comfort zone and just talking with someone is harder and harder for young adults.
Creative thinking and problem solving , is important. By age 30, a person should be able to step through the following process:
- Understand a problem by analyzing the affects on others and yourself.
- Come up, with creative ideas and strategies to solve the problem.
- Pay attention to the verbal and non-verbal feedback, that come from your actions.
- Ask others , who are more experienced, about the problem and your solutions.
This is a cycle that you would repeat to constantly improve your solutions.
- How to cook basic dishes
- How to do laundry
- How to do dishes
- How to go grocery shopping
- How to clean your house
- How to figure out a system to reliably ensure bills are paid on time
How to cook and eat healthy.
Must know How to Relax
One thing I learnt when I was 27 was that I was not relaxed at all. The work emails came in 24/7 and I felt obliged to answer all of them. I kept up every appointment with my friends. Drank hard, party hard, worked harder. I even travelled, but I carried by laptop with me.
So, it took me a while but I realised that I needed to know how to relax. A little meditation, taking time out only for yourself. Stare out the window and look at everything around. Be a kid.
I think we forget that we are humans and work like machines. So by 30, you need to know how to relax so you can be a well oiled machine for the rest of the life.
Expect Nothing In Return!
We should be mature enough to understand if we are doing something for someone's good, it is for our own contentment and because we feel that person deserves to be at a good position and it is cool that we are of any help.
But expecting a favor in return is so not cool. If you are expecting the other person to do something in return for you, better you don't help others on the first place rather than hurting yourself up or creating a bad notion in your mind about that person.