5 Financial Commandments For A 30 Year Old Black Woman


For some, turning 30 years looms like a terrifying deadline. But for others there is a sense of excitement as they believe that for them life begins at 30. At this, it's when most of us start to ask ourselves: Am I financially secure? Am I on the right path to stability and eventual retirement? Am I a responsible adult?

The first thing we need to accept  is that we will not have everything in our finances or life figured out by the time you’re 30. And honestly, that’s okay. But as you're more conscious about your overall financial state, the better prepared you’ll be to reach later financial goals across different ages.

Also keep in mind that there is no one right path for everyone to financial freedom, that's why you should never put pressure on yourself by comparing your means to others in terms of financial or material achievements.


However, at this age we should strive to achieve the following… let’s call them the 5 financial commandments for your 30s….

1. Thou shall have a Retirement plan in place

It’s advisable to save for retirement across stages of your life. I think in your 30s, it becomes very critical to have a retirement saving plan with a financial institution of your choice. Remember, savings have more time to grow when you build them while you’re younger. I hear some black people say, ‘Well, when I start to earn more money, I’ll save start to save.” But they just don’t realize how critical those initial early years are and how much less they’d have to save over time if they start early. It makes a huge difference.

2. Thou shall be prepared for emergencies

This is an age where most have become independent, have started families, thus an emergency fund is a must-have. Financial advisers generally recommend that you have 6 to 12 months of living expenses saved in an emergency fund.

3. Thou shall have zero credit card debt.

The peace of mind you get from having no credit card debt is amazing. Credit cards generally have much higher interest rates than other debts, so it makes sense to pay off your credit card debt earlier. Find ways to pay your credit card,( you can use the power down approach- link to that article), or just avoid it at all costs.

4. Become financially literate

To make sure that you’re always growing you need to develop the habit of continuous learning. Constantly learning new things is a basic requirement in this day and age.

If this is very important for your mental and social well-being, then it’s also very important for your financial well-being too. You need to be financially literate. At this age, it’s important to take your finances very seriously and learn everything you can about both your financial opportunities and your responsibilities. Start reading personal finance books or consult with a financial adviser, have meaningful financial conversations with your friends, do anything to better your financial well-being. Learn everything you can, and don’t invest in anything you don’t understand.


5 Thou shall take care of thine own health

Think of putting forth a little effort in both exercise and healthy eating habits as a long-term investment. This might even help you save on your medical aid bills, i.e. by increasing your DiscoveryVitality or Momentum's Multiplier points.  "Be healthy. That is priority 1. Don't get into your 30s being slow and tired all the time. It sucks," Michael Dorian Bach