Financial Tips

5 Money Matters People at 35 Should Know About

People in their 30s are the most productive. People in their 20s are still struggling to find their footing in the world. And once they found it, they don’t get too serious—at least not yet, as your 20s is reserved for partying and having fun. But real responsibilities start to creep in when you are in your late 20s—this is when people start having families. In your 30s, life becomes REAL. So what are the things you should know by the time you’re 35?

Here are five things every 35-year-old should know about money.

Know your credit score


According to Time magazine, only half of the millennials are aware of their credit scores. And since you are almost “not a millennial” anymore, it’s best to be aware of your credit standing. Knowing your credit score means you are aware of your financial standing. There are great advantages to knowing your credit score. It means you could save thousands of dollars when taking out a mortgage and loans. You don’t need to be a homeowner to get good car loan rates and insurance premiums.


Increase your 401(k) contributions


At this age, chances are you can already afford to pay a higher contribution for your 401(k). Remember that this is your future. If you want to have a more comfortable future, you have to start investing in it at the soonest possible time. It is understandable, though, that in your 20s, you can only afford to contribute the lesser amount. If you can open more than one retirement account, that would even be better.


Know your net worth


People, not just the young ones, don’t really bother knowing one’s net worth. This is because most people don’t think it’s necessary. But it actually is. If you want financial stability, you have to know your whole financial picture. Your net worth can be calculated by adding all your assets, properties, investments, cash and other bank accounts minus your liabilities—your debts and other financial obligations. When you know your net worth, you will know how to improve your finances and make improvements in your fiscal activities.




Everybody knows you need to save for the future. But how much should be enough? According to financial experts, one should have savings that would allow you to financial live for three to six months. More is obviously better. In life, nothing is ever certain. So if you ever lose your job, it pays that you have a rainy day fund.


Know your debt


It is normal to have a loan, and as long as you pay on time and with the proper amount, your credit score is bound to be good. More people only know the amount they owe but nothing else. Actually, you should know your debt and the interest you are paying. This will give you proper control of your money. This will also allow you to determine the day you will eventually be debt-free.

In your 20s, you can still get away with being financially irresponsible. But in your 30s, it just doesn’t sound proper anymore. One should be financially savvy at 35 in order to make smarter decisions concerning money.

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