Turning 30 can be a dreadful birthday for some reluctant 20-somethings, but no matter how full of dread you may be there's a way to gracefully enter the next decade in regard to money management. In order to set you up for smooth sailing, MSN Money created a list of six money milestones to reach by the time you're 30. Do you think these milestones are appropriate for most people in their twenties? Is there anything you'd add or remove?
- Scale back the credit cards. If you aren't able to live on your earnings and are still taking on credit card debt when you're 30, it's going to be difficult for you to save enough for retirement.
- Own a home, or have a plan. One expert says that homeownership should be a priority, and to start saving for a down payment.
- Have skills. Develop a set of marketable skills by the time you are 30 and try to bring something new to the table.
- Give money away. Financial advisor Scott Hanson says, "I think it's financially healthy to give."
- Know thyself. Decide what's important to you. Hanson explains, "Start to know yourself and build parameters so your life and money line up with those parameters."
- Know smart people. When you need advice, turning someone who's good at their job can save you money in the long run, whether it's a tax preparer, financial adviser, attorney, or insurance agent.