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Personal Finance

Financial goals to hit before you are 30

Life is like a roller coaster, there’s ups and down and sometimes there is the in-between. As settled as you are, things can happen unexpectedly. It may not happen that fast, but it happens. You will need to prepare yourself for that day with financial goals. Here are a few things that you can do:

Start your emergency fund.


You are in your 20s- healthy, happy and you’ve got the whole world ahead of you. You have a car but what if it breaks down, you have a house, but what if you need pipe repairs? What about emergency checkups or dental surgeries, which need immediate attention? Your emergency fund can be your kind of savings dedicated for these matters.

You can open an account that is dedicated to an emergency fund. Make it financial goal to set aside some money, which can cover from 3 months to 6 months of basic living expenses. 

Get rid of debts.


There are 2 types of debts, the good debts and then there are the bad debts. That’s what financial experts say. What is the good debt? It is when you borrow money from a bank at reasonable term and use the money for businesses or for education. Bad debt is when you owe the bank money from your credit card debt. We need to be discipline in our spending so we don’t go over our spending limit. 

Do some freelance work.

If the income from your day job is not enough, doing freelance is not a bad idea. You can start making extra money from there. Use the money you made for your emergency fund or just for savings. You just need to go out and look for it, the options are endless. 

Have a long-term life goal.


Buying a house or starting an investment fund for your kids would be something a long-term investment be, getting a phone that cost RM4k is a short-term goal it won’t save money for you in the future. Having a long-term goal can help you with some of the financial problems that you might face in the future. 

Do you have financial goal before you hit 30? If you do tell us about it.

Check out other blog post from GoBear Malaysia. If you want to know more about personal loans and credit card, compare them at GoBear Malaysia.