14 Facts About Money You Should Know by Age 30

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TIMESTAMPS Kids are expensive 0:48 It's not embarrassing to ask for a promotion 2:15 It's more profitable to rent than own 4:04 Invest in your health and education 5:15 Don't invest in something you don't know well 5:42 Don't borrow to pay old debts 6:16 Stay connected with your friends 6:50 Buy good quality shoes and clothes 7:19 Avoid impulse purchases 7:50 Start saving money for old age now 8:19 Eat and cook at home 8:44 Put part of your salary into a savings account 9:27 Be on the same page with your significant other 10:05 Find a passive source of income 10:40

SUMMARY - Raising just one kid can drain your funds up to as much as a quarter of a million dollars! - If you've been working in the same position for more than 3 years, the time has come to make your way up the career ladder. - When you rent, you don’t have to spend money on maintenance, taxes, and sometimes not even on furniture. - It's important to take care of yourself, go on vacation at least once a year, get enough sleep, and eat the right foods. - Giving into strong emotions or impulses to invest in dubious projects can strip you of a lot of (if not all) your money. - Don’t take out a new loan in order to pay off an old one, and don’t borrow money from one friend so that you can pay back another. - Personal relationships are much more important than money. No amount of money is worth losing your friend over. - It's more cost-effective to spend more money on durable things because you’re not buying them again and again. - If you’re on a tight budget, impulse shopping will punch holes right through it. - If you save at least $20 to $50 a month, you’ll have a decent amount in your account when you’re elderly, which will make you feel more secure. - Next time you go to the grocery store, count up how much you spend on your food. - Anything can happen, and some things demand a lot of money from you. - Partners should be unanimous when it comes to financial questions. - Study the best ways to invest money and choose the one that suits you the most.