7 Money Lessons Every Adult Should Learn By 30

Topics: Reading time: 5 minutes

As an adult, you’ll learn a lot about the art of balancing work and your home life. As more and more people are trying to “have it all,” we’re getting better at managing work/life balance. However, our money management habits can always be improved. There are some money lessons every adult needs to learn by the time they’re 30 years old. These might not always seem obvious once you’re in the “real world.”

While these money lessons don’t always come easily, it’s important to understand how to make the most of your time. Read on to discover our top tips for maximising your time and money so you can focus on the things that really matter to you. These are the money lessons every adult should learn sooner rather than later.

1. Lists Are Essential

One of the most important money lessons every adult should learn has to do with making lists. When trying to remember all your appointments, everything you need to do, and your grocery list, we might accidentally forget something. It’s only human nature.

Trying to remember too much can lead to stress, and that stress could keep you up at night worrying. Instead, write everything down. Write down your financial goals, your debt payoff ideas, and your regular expenses.

Take 10 minutes each day to write down everything you need to remember in quick bullet-point lists. From there, try to review it at the same time each day. It will make you more organised, help you achieve your financial goals, and save you time in the long run. This is one of the money lessons that truly pays off.

2. Meal Planning Makes Life Easier

Once used exclusively by fitness gurus and those on weight-loss diets, meal planning is making its way into the mainstream. By planning your meals in advance, you minimise food waste and therefore keep your costs down. We all know the frustration of having to throw out food that goes bad before we can use it.

Similarly, you’ll also be able to plan your family meals to meet your budget goals. Plan all of your meals and snacks for a week in advance so you can complete your grocery shopping in one big shop and save time dashing back and forth throughout the week. The more prepared you are, the better your savings will be.

You could also cook your meals in advance and freeze them if you wish. This is also an excellent money-saver as you’ll be able to buy some items in bulk which works out cheaper over time. This small tip saves you both time and money, so it’s a must-learn money lesson.

3. Use Time-Saving Services

As a society, we are working harder and putting in longer hours to get ahead. Unfortunately, the cost is our time, and it can lead to impulsive purchases you didn’t really need or plan for.

Always consider your time and what the best use of your time really is. As the saying goes, time is money. While trying to eliminate your debt, look for ways to save on your household expenses.

Also, look for opportunities to save time to free you up to work overtime if it’s available to you. For example, having your dry cleaning picked up and delivered will save you time. The same is true for grocery delivery, cleaning services, and so on. Time is money, so start considering what your time is really worth to you.

4. Review Your Finances Often

Next, you should annually review your insurances, credit cards, and any loans you have such as a mortgage. There may be better options available to you to refinance. Even if there isn’t a better deal, by reviewing your finances you’ll become more aware of your financial position and likely to make better financial decisions. One of the top money lessons is to always know your financial standing.

It may also be worthwhile reviewing your super fund from time to time to ensure they are performing well for your goals. Reviewing your budget on a regular basis will set you on the right path to financial freedom. These things are never one-and-done, and they need to be monitored regularly. While it can be intimidating to start, you’ll soon grow comfortable with checking your account information.

5. Set Your Savings to Autopilot

Why work harder when you can work smarter? By the time you’re 30, you should learn this important money lesson. Did you know you don’t have to actively think about saving money if you set it to autopilot? What does this mean? There are so many tools and apps that help you put money aside for a rainy day, emergency fund, or even retirement.

You can have some of this money taken automatically from your paycheque for savings, or you can create a savings schedule with your online banking app. By setting your savings to autopilot, you don’t have to take extra time to do this each month. Even better, you won’t even notice it’s happening. It’s like saving money in your sleep! Who said saving money had to be complicated?

6. Don’t Regret Past Financial Mistakes

Financial mistakes happen. They’re a part of life. We can dwell on them all we want, but they won’t help us actually improve. It’s easy to spiral into anxiety thinking about how we borrowed too much money or how we got into too much credit card debt.

In reality, this negative thinking doesn’t get us anywhere. You can’t change the past. Instead, you can learn from it. You can improve and vow to do better in the future. Being hard on yourself won’t change the past. It just frustrates you further about the future. Rather, ask yourself what you can do better next time.

These financial missteps in the past don’t have to define you. Now that you know what went wrong, you’re in a place to be more successful in the future. Value these moments for what they are—life lessons. Don’t waste any more of your time in the present worrying about what could have been.

7. Put Yourself First Sometimes

Last but not least, don’t neglect time for yourself. Put aside an hour every week where you do something that is just for you. Whether that’s having a long bath, reading your book with a cup of tea, or going for a walk, you need to turn off your phone, de-stress, and reset for the week.

If you don’t take care of yourself, you’ll feel run down. Burnout is very real, especially in adulthood. It means you might need to take more time away from work and your family, and this is not something you want to experience. Taking a bit of time for yourself regularly is the best way to fight burnout. One of the best money lessons is to put your health and wellness first. They’re the most valuable things you have.

Money Is Only One Part of Life

Money really is just that: money. It’s not your entire life, and it doesn’t need to be treated as the only thing that matters. Instead of letting money take over your life, consider how it can help you improve. Finding that ideal balance between valuing your time and making your money work for you is key.

Yes, it’s true that time is money, but it’s also true that your time has value in itself. Whether you spend that time with your friends, family, pets, or just enjoying time with yourself, make it count. Unlike money, you can’t get time back once it’s gone. This is an important money lesson everyone should learn before they turn 30.

In order to maximise your debt reduction, you need to free up your time so you can invest it wisely. Luckily, you don’t have to do this alone. If you’re seeking professional assistance with managing debt, we’re here to help. Call us today on 1300 368 322 or fill in the contact form below.

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