7 Money Moves Gen Z Should Make Before Turning 30
Written by
Jennifer Taylor
Edited by
Cory Dudak
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Right now, the world is your oyster. You might think 30 is old, but in reality, you have a long financial future ahead.
Instead of being young and reckless, you can start your adult life off on solid footing. Keep reading to learn seven money moves Gen Z should make before turning 30.
Pay Off High-Interest Debt
It doesn’t take long to rack up high-interest debt. If this burden is currently weighing you down, now is the time to get rid of it.
“With interest rates often ranging from 25 to 30%, paying off high-interest debt, such as credit card debt, consistently offers an excellent return on investment — both financially and psychologically,” said Kevin C. Feig, CFP, CPA/PFS owner of Walk You to Wealth.
Build Emergency Savings
If you lose your job or are hit with an unexpected expense, you need a financial cushion to fall back on. Generally speaking, experts recommend putting three to six months of living expenses aside in an emergency fund.
“It’s generally ideal to keep these funds at a separate financial institution from your day-to-day checking account to create friction for impulse purchases,” Feig said. “These funds can earn approximately four percent in a high-yield savings account (HYSA), while remaining readily available when needed.”
Make a Financial Plan
Having a solid financial plan can put you on the path to success. Feig advised working with a financial advisor to create a written financial plan, automating as many steps as possible and finding an accountability partner.
“You and your advisor should view your plan as ever-evolving, much like Waze — you input a destination, but the app continually reroutes you due to traffic, accidents and other unexpected events,” he said.
Invest
If your workplace offers benefits like a 401(k) match or health savings account (HSA) contribution, take advantage of it, Feig said. Additionally, now is also the time to consider a Roth IRA, as your income and tax bracket will likely rise considerably from this point on.
Learn a Skill That Pays Well
“Everyone wants to come out of high school or college and start making big bucks,” said CJ Stermetz, CFP, CEP, founder at EquityFTW. “Unless you somehow became famous or are expecting Livvy Dunne NIL money in college, earning a high income requires you to spend time learning.”
Even more so than a Roth IRA, he said improving your earning ability is the best investment you can make. Focus on finding something you like, with high earning potential, then immerse yourself in it.
Pursue an Education
It’s not uncommon to hear people say college is a waste of money, but Stermetz said that isn’t necessarily the case. Depending on your desired career path, earning at least a bachelor’s degree can pay off.
In 2024, the median weekly earnings of workers with a bachelor’s degree was $1,543, with an unemployment rate of 2.5%, according to the Bureau of Labor Statistics. Notably less, workers with only a high school diploma had median weekly earnings of $930 and a 4.2% unemployment rate.
Don’t Rush Into Marriage
If you want to get married, the person you choose is one of the most important money moves you can make, Stermetz said. This can help you avoid a costly divorce, as well as giving you a partner that will push you to succeed and help you stay focused on your goals.
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