According to MSN Money there are 6 Financial Milestones you should hit before you turn 30. I am already 34,so this caught my eye.

1.Scale back the credit cards.
Young Fisher says a 30-year-old needs to be "living on your paycheck" -- getting by without taking on credit card debt -- and saving at least 10% of total salary for the future. "If not," she says, "you're not going be able to retire."

She recommends investing in Microsoft Money or Quicken -- user-friendly software programs that track income, expenses and investments and can be programmed to help with taxes and goal-setting.

2.Own a home -- or have a plan.
Young Fisher says that homeownership should be a top priority for those who rent. "Start saving for a down payment," she says. "If you find something you love, or a change of life comes along (like a baby or a relocation) and you don't have any money, you're going to borrow or get an interest-only mortgage -- which is ridiculous."

When you do buy, she says, "buy what you can afford, not what you love." And don't forget the new expenses


3.Have skills.
Even for those who do not consider themselves entrepreneurs, most workers should expect multiple changes in employers and job titles throughout their careers. "By time you're 30, you should develop a set of marketable skills," says Gregg Fisher, 35, founder of Gerstein Fisher, a New York financial-planning firm. "Try to bring something new to the table."

4.Give money away.
No, not to the credit card companies, in the form of 24.99% interest-rate payments. Instead, establish a regular charitable giving plan, says Scott Hanson, founder of financial-planning firm Hanson McClain

5.Know thyself.
Introspection is not just for middle-aged guys with ponytails living on a cliff in Japan. Having a firm grasp on your priorities and values is one critical component of a healthy financial life.

6.Know smart people.
It is important to have strong advisers in your life, Young Fisher says. Knowing a good tax preparer, financial adviser, attorney and insurance agent can save you untold amounts of money and stress. "When you do need someone, get someone good," she says.



I have #1 covered. I don't use my cards,and when I do, I don't go crazy,and they get paid off quickly. I dont like oweing money.

#2, I would love to be able to own my own house,and have actually started looking since alot of houses are being foreclosed,but they are still pretty high in price.

#3, I am working on.

#4, I think it is good to give to charity,but I can't see realistically,giving all year,and being able to reach your goals.

#5, Covered.

#6, Covered

How about everyone else?
[Edited 12/28/08 13:58pm]
[Edited 12/28/08 19:28pm]

I am 33.

I have 1, 3, 4 and 5 down.

I don't think I'll ever be able to afford my own home. Every time I've looked into it, it's way beyond my grasp. I simply don't have the salary for a single person to buy a home by themselves. At least, not a home in a location I'm willing to live in.

As for number 6, I know lots of smart people, but none of them are insurance agents or financial advisers. Perhaps I should meet some...

Those kinds of lists are good for general purposes, but I hate being judged by things like that.

I'm 41, and I'm closing on my 1st home on Tuesday. (#2) I've paid off my credit cards (#1) and student loans for my first 3 degrees (BA, post-BA, MA). I'm now working on my Doctorate (#3) and have managed to avoid huge student loans by paying a lot of it out of pocket as I've gone along. I feel blessed to have had parents who valued my education enough to let me stay home till I was ready to move out & afford school, too.

I give to charities, my church, and yes, I know myself and some smart folx. (#4, 5, 6).

I'm starting 2009 with my own house and I'm proud- at my age or any.

chocolate1 said:

yeah, I don't pay attention to this stuff either.. they say you should be married before 30 too.. yeah, ok.. the only thing on that list I don't have is #2.. my student loan is gone I don't owe Uncle Sam anything!! the 2 credit cards I have I owe nothing!

and Congratulations on your house

Flowers2 said:

Married?! Ha! I gave up on THAT one a while back!
And thanks so much!

I have six-figure student loan debt, five-figure credit-card debt, 4.5 years of school left to go, no assets, no investments, no savings, no job . . . I told a friend once that I was broke, and he was like, "girl, broke would be a step up for you!"





So, I'm 29. Think I can turn this around before next October?
[Edited 12/28/08 18:45pm]

tackam said:

So if you have no job how are you paying for school?


Chocolate1~ Congrats on the new house!

I love lists like this for guidance, some people need that. It's no different that the highlights in a financial planning book by Suze Orman. People have been giving this type of advice for ages. Doesn't hurt. I'm a planner and make 5 year and yearly financial plans so stuff like this just reinforces that I'm focusing on the right stuff. Anyways. . .

#1 I haven't paid any interest on credit card debt since I was 23, I learned my lesson after college.

#2 Bought my first house at 26, have since bought and sold 6 more as well as land, and built my "dream" house at 33.

#3 Mama got all kinds of skillz

#4 I'm a giver. I don't tithe to a church but I give to various charities, pay college tuition for my niece, and a bunch o' other shit. I do need to volunteer more tho.

#5 and #6 I'm good.

EmeraldSkies said:

I have been living on loans. But with the economic collapse, the private loans (which are my only option, because I'm post-bacc) basically vanished. So I'm currently fucked. Looking for a job now, but there aren't a lot of options that pay enough to get by.

I'm very stressed. But I try not to dwell on it.

tackam said:

Good luck.

EmeraldSkies said:

Thank U! I've VERY excited!
Someone actually said, "About time" to me, but U know what? I'm comfortable & happy...

SCNDLS said:

Thanks! I'm sure I'll manage.

SCNDLS said:

you must have started saving early on or had a ver high paying job. I kick myself for not saving like I do now sooner.

EmeraldSkies said:

For my first house, I only put 3% down so I didn't have to save that much. I've always been good about saving and started working at 14 so I learned the value of a dollar early on. For most of my 20s I made less than $30k a year BUT I lived frugally for a long time and always had a part-time job. My friends tease me about my Jamaican heritage cuz we're notorious for having multiple jobs. Now, that I work at home it's easier to have multiple, near full-time assignments. So I live on one check and save the other.

tackam said:

I hope you find a job soon.

SCNDLS said:

I don't mean to be nosy,but do you mind me asking what is it you do for a living?

EmeraldSkies said:

Sure, I'm a training consultant/instructional designer/technical writer depends on the client's needs but mostly I create training programs for corporate clients. But I've done all kinds of jobs to get this point and I've been blessed to be in my field for the last 10 years and to work for myself for the last 7.

SCNDLS said:

Sounds like a difficult job.

EmeraldSkies said:

Not really, mostly common sense and lots of writing and project management. But then again, I love what I do and that makes it seem easy to me. I have a colleague with a PhD in this who absolutely hates instructional design work and really struggles with seemingly simple tasks. Like I always say, everything ain't for everybody. Loving what you do is key to any professional success.

SCNDLS said:

That is true,it's just finding the profession that you love that is sometimes difficult.

EmeraldSkies said:

You ain't neva lied!

I was lucky that all the crappy jobs I'd had before and the Journalism degree I wasn't using, ended up being the PERFECT foundation for my current profession. I wasn't even looking for this but was preparing for it all along. Sometimes it be's that way.

SCNDLS said: