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Say “I Do” to Eight Financial Vows Before You Turn 30!

Say “I Do” to Eight Financial Vows Before You Turn 30!

Ah, sweet summer… the season of love. The season where many twenty-somethings may be saying their “I dos.” What could be more blissful? How about a happily ever after that’s filled with financial security? After all, you know how the saying goes… first comes love, then comes marriage… then comes buying a home, life’s other financial demands and, oh yes, perhaps even that baby carriage!

Whether or not you fall into the group of twenty-somethings that are saying their “I dos” this summer, here are eight financial vows to have and to hold before you turn 30:


1. Get familiar with your financial picture. Ah yes, there comes a time that you’ve got to stop flying by the seat of your pants when it comes to your finances. Sure, you may know when pay day is and how much will be coming into your account on that date, but do you have an accurate idea of where your money is going each month… or week… or day? Take a detailed look at your spending habits and do prepare to be a bit surprised!

2. Keep a budget. Once you get over the initial shock of realizing exactly where your money is coming from and going to each month, put a plan into action to better manage those numbers. Set (and stick to) a realistic budget that will allow you to cover your needs (rent, transportation, bills), wants (wardrobe accessories, entertainment, etc.) and even allow you to save.

3. Set financial goals. Speaking of those needs, wants and savings… write them down. For everything from paying off your Macy’s credit card bill to buying a home, seeing is believing! If you know that you would like to take a vacation, buy a car or pay off a bill, write it down and refer to that list regularly to motivate you toward those goals.

4. Plan for retirement. Even if retirement seems like it is eons away, start planning for it now. Join your company’s 401K or begin an IRA fund. If you do it sooner, rather than later, you won’t even notice a difference in your pay check – but, you will see a certain difference in your retirement savings in a short amount of time!

5. Start an emergency fund. Life is unpredictable. Unfortunately, things like job loss, natural disasters or health emergencies can occur at any given time. While each event is certainly difficult, each could be made easier with some extra funding. So, start putting money into a savings account that you vow only to touch in case of extreme emergency – and, we’re not talking about a spur-of-the-moment trip to Cancun.

6. Be careful with your credit. It is good to establish credit, but frivolously using credit cards can cost you… a lot. Not only will you continue to accrue and pay interest on any balance you carry from month-to-month, you also run the risk of establishing bad credit, which can haunt you for years to come, particularly when you want to buy a house, car or other big-ticket item.

7. Take care of yourself. Though this may hardly seem like financial advice, getting a little exercise and enjoying things in moderation not only helps you to achieve better health, but it also helps you to manage your money. Cutting out a few coffee runs, happy hours or cigarette breaks will help to increase your health and your bank account! Throw in some regular exercise and you may even cut down on what could be expensive future medical bills!

8. Find a financial mentor. This could be a parent, other family member, friend, coworker or a successful businessperson whose financial savvy you’ve always admired. Pick someone that you’ve noticed making sound financial decisions and make every effort to follow in their financial footsteps.

Are you ready to walk down the aisle to a bright financial future? Vow to keep these eight financial tips and you may be ensuring your own fiscal happily ever after!


This post is sponsored by PA Preferred Mortgage:

Pennsylvania Preferred Mortgage is a full service mortgage banker and is a member of the Prosperity Home Mortgage, LLC family. Specializing in residential and refinance loans, Pennsylvania Preferred Mortgage offers a wide range of mortgage products, including fixed and adjustable rate mortgages, jumbo loans, Federal Housing Administration (FHA) and Veterans Affairs (VA) loans, and renovation financing. Learn more at www.papreferredmortgage.com.