6 Ways Not To F— Up Your Finances Before You're 30

MSNMoney has 6 financial milestones that you should try to reach before you’re thirty. Make note of these and you’ll have a head start to personal finance bliss.

1. Stop with the credit cards already!
MSNMoney says that the average credit card debt among 25- to 34-year-olds was $5,200 in 2004. You should be saving in your 20s, not spending.

2. Plan for home ownership. Save for a down payment, then buy what you can afford — not what you love.

3. Have skills. “Everyone’s really self-employed. If you work for a company, you just have one client,” says Gregg Fisher, 35, founder of Gerstein Fisher, a New York financial-planning firm.. “If they fire you, you’re out of business.”

4. Give to charity. If you buy things to make yourself feel good, why not donate some money to charity instead. Won’t that make you feel good?

5. Know thyself. “Having a firm grasp on your priorities and values is one critical component of a healthy financial life.”

6. Know smart people. “Knowing a good tax preparer, financial adviser, attorney and insurance agent can save you untold amounts of money and stress.”

You can read the full article here.

We’d also suggest a few more specific steps, like start investing in your retirement and build up an emergency fund that’s liquid — 6 months of living expenses in a high interest savings account is great. What else should people do before they’re 30?

6 financial milestones before 30 [MSNMoney]
(Photo: AdamOndi )