13 Money Lies You Should Stop Telling Yourself By Age 30

30 Something lessonsBy Mandi Woodruff

I'm not quite 30 yet, but I'm more than familiar with the notion that this age is the new benchmark for people to get their lives together.

There are books, blogs and Twitter accounts dedicated solely to helping people cross that line in the best shape for their future. They do this by telling you to get rid of debt, stop shopping so much, start a 401(k) and brace yourself for wrinkles.

But in my opinion, it takes a lot more than a healthy bank account and nice skin to live a full and happy life, whether you're 29 or 59. Most of us know how to succeed, we just happen to let ourselves -- and a few convenient lies -- get in the way.

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It's best to wait until you are ready to have babies and have money in bank with a good job and etc.

January 14 2013 at 11:34 PM Report abuse rate up rate down Reply

This article is but one more example of why young people shouldn't write articles giving advice to other young people. Every other point made is just wrong!

1) Half-right... don't stick with a job you hate but there is nothing wrong with having a job that you don't love if it pays well enough for you to do things in your off-hours that you do love.

2) Right... finances don't take care of themselves at any age.

3) Wrong... don't wait to get married. The best advice I ever received was "if you meet the right person... marry 'em!" There is no "The One" and he or she definitely isn't going to wait around for you to get your act together. Also... there is no rule saying that you have to spend the "average" on a wedding... $2700, $27,000, or $27 million... happiness comes from being married, not from the bragging rights on the cost of the ceremony.

4) Good point but be aware that "negotiating" your loans down can kill your credit score.

5) What does suicide have to do with home ownership? Buy a home you can afford when you are settled down.

6 and 7) Spot on! Small retirement investments early in your life mean an old age of easy living. If you need cash now for school, babies or whatever... just borrow it. Leave your retirement accounts alone.

8) Mostly correct. You don't want to be too far behind your peers in earnings in your 20's but the real threat to your future wealth is to waste your 20's getting nothing accomplished. Join the military or the Peace Corps, try out different careers, do volunteer work instead of overtime, go to graduate school, etc. These options get limited really fast once you hit 30.

9) Mostly wrong... cheap foods have the most calories. If you want to save calories AND dollars... stop drinking alcohol (funny how this 20-something writer missed this point).

10) Correct again... credit is offered by stores (and banks) for their benefit, not yours!

11) Fair point but for modern 20-somethings I would extend the point to include tattoos. They are expensive and restrict your job opportunities rather than enhancing them. No one cares about your individuality in the business world... they care about your ability to add to their profits. Period.

12) Wrong wrong wrong! Children are not just a cost... they are amongst life's biggest benefits. For every 20-something female writer telling her peers to delay having kids there are hundreds of 40-something women who say "I wish I had just one more."

13) Correct-a-mundo! To quote my 70-something mother... "Nothing destroys a budget faster than health care bills and car repair bills." Take care of yourselves out there!

January 14 2013 at 8:20 PM Report abuse rate up rate down Reply

13? Ralph.

January 14 2013 at 12:49 PM Report abuse rate up rate down Reply