When I turned 30, I suddenly became acutely aware of my spending habits, and my overall treatment and view of money. Some say my biological clock should have been the most active thing when I turned 30—my mom especially said that, since she was hoping my stance on not having kids would change—but, for me, it was my thoughts around money that began to activate. Maybe I just began to calculate things and realized that I really only had thirty more years—about three decades—to make enough money to retire comfortably by my mid sixties. And, at age 30, I realized how quickly the previous three decades had gone by and realized the next three may go by just as fast. Whatever the reasons, the way I spent and viewed money changed when I turned 30—in a good way. Here are just some of the ways.
You consider rent-to-income ratio more
While landlords and property owners will often strongly urge you not to rent from them unless you make at least three times what the rent costs each month, I altered that idea. I decided that my rent should be a quarter or less of what I make a month. Rent is one of the biggest expenses in a person’s life so if I could go for a lower one, I’d instantly save a lot more money each month, without working extra.