Financial mistakes that will affect you when you turn 30.

If you already are 30, or you are close to it, you probably spent your 20s-finishing college, looking for work, risking, making connections and having fun.

Now that you are in the 30’s, you are moving into a different realm. It is time to establish your career and start climbing the corporate ladder. Or maybe it is time to go out and build your own path like a millionaire. Or you can also be thinking about building your life together with a couple, have children and plan your future in the long term.

This is the period in which money traps end up wilting the finances of many people for years or even decades. with so many things going on at work, as well as your personal life, it is easy to focus on here and now, and set aside your future financial goals. This article will serve as a map to help you avoid unnecessary money. Avoid these 3 mistakes during your 30’s, and you will be prepared for financial freedom in your 40’s and beyond.

1. Have debts on your credit card.

Credit cards can seem like a solution when you need a little help getting to your next paycheck, or be a useful tool to help you establish a credit history and earn points, rewards, or make online purchases. But these companies see your financial mistakes, let’s call them: impulse buying, things you do not need.

If you do not pay your cards, or even worse, if you only make the minimum payment, you will end up suffering the consequences. Credit cards are infamous in terms of fees, interest rates and hidden rules that come in small print. It will be difficult to catch up once you’re late.

2. Have a single income source.

Most of us consider employment as a relationship. We are faithful to a single employer. We dedicate all our time and effort to establish ourselves in our work first place, and avoid everything else. But when it comes to making money, it’s good to have something extra.

In fact, having another income will give you a backup in case something happens with your job. Think on this as an opportunity to broaden your interests and explore different areas. There are many ways to have a second career, or a company and generate extra money. Having more than one income source means more money to invest and save for future projects.

3. Do not have a financial plan when you move in with your couple.

It is no surprise now that people wait to get married and people prefer to live together before marriage. It all sounds wonderful until you must decide how to split the bills.

One of the biggest mistakes you can make before merging your life with another person is not having an honest and open discussion about finances: budget, debt and spending habits. It can be uncomfortable to have this conversation, but it is important that you understand where each of you is financially, and how their monetary habits may differ.