Financial Habits to Build in Your 20s and 30s - AstroWealth Skip to main content

Building good financial habits will set you up for success and financial independence later in life. Your 20s and 30s are a great place to start creating these habits that you can stick to for the rest of your life. At first, it can be overwhelming learning about how to create good financial habits, so we’ve broken down our advice into 8 easy to follow tips to get you started.

8 Financial Habits to get started


  1. Set your financial goals
    Create realistic short-term and long-term financial goals using the SMART framework. This will help you visualize your future financial position and stay on track to achieving it.

  2. Create a budget
    A budget will help you avoid overspending and keep you on track to reach your financial goals. For more tips on creating and sticking to a budget, read our article here.

  3. Develop a debt-repayment plan
    Prioritize repaying your debt, such as student loans, and make a schedule to stick to that aligns with your financial goals.

  4. Build an emergency fund
    Set aside at least 10% each month to an emergency fund or rainy-day fund. Unexpected expenses or an economic downturn won’t be covered completely by insurance, so it’s helpful to have liquid savings on hand so you aren’t caught off guard.

  5. Educate yourself on financial literacy
    You’re never too young to start educating yourself and building good financial habits. Continually improving your financial literacy skills will help you better manage and grow your money. Reading financial blogs, listening to podcasts, and subscribing to online courses are all great ways to get started.

  6. Start building your credit history
    Your credit card history will be important when securing loans, renting property, and sometimes even securing a job. To build your credit history and earn a good credit score, always pay off your credit card on time.

  7. Invest wisely
    Start learning about investing and place your money in safe investments that allow it to grow. Your 20s are a great time to build strong investment habits, whether that’s in the stock market or real estate. Read more about our investment tips and advise to get started.

  8. Start saving for retirement
    Although you’re just entering the job market, it’s never too early to start your retirement fund. If a 20-year old put aside $100 a month for their retirement fund, assuming an 8% return and quarterly compounding, they’ll have $346,039 at the age of 60. 

If you start building these habits now, you’ll be on track to financial freedom and independence in no time. Start by learning and listening to financial gurus and educating yourself on what works best for you. Try not to get overwhelmed as any step in the right direction is progress.  Follow our blog for more easy to understand tips and advice on financial topics.

Want to learn how to define your financial goals? Get started here.

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