6 financial milestones before 30

Nine months, 17 days, 14 hours and 15 minutes.

That’s how long I have before turning the dreaded 3-0…but who’s counting?

Actually, when I turned 29 last September everyone told me the year before 30 is the hard one because you usually have several personal milestones in your head that you’d hoped to accomplish and suddenly the deadline is looming.

And they were right. I always thought I’d be married and have a kid on the way long before I hit my 30s but I haven’t had the best of luck in the romance department. And call me old-fashioned but I’d like to be married before I have children (although that could change if marriage doesn’t seem to be on the horizon by 35…more on that later).

So anyway, I felt a little better last week when MSN Money published an article entitled “6 financial milestones before 30.” In this respect, at least, I am well on my way to accomplishing everything before 30: 

1. Scale back the credit cards

Check – My one experience with debt in college – $4,000 after a year studying abroad followed by an untimely hiring freeze in the PR industry – scared the bejesus out of me and ever since I’ve been paying off the full balance on my cards. I do charge pretty much everything to my credit card for the rewards, but I get hives even thinking about accruing interest on an unpaid balance.

2. Own a home…or have a plan

Check - Thanks to my move to Texas, where home prices are much lower than California, and some help from my parents I was able to buy a house a few years ago when I was 26. Sure, my parents charged me 5.333% interest on the loan but I couldn’t have done it without them and they taught me some valuable lessons in the process.

3. Have skills

Check-ish - I say that because while I have seven years’ experience and I’m confident in my PR skills, my niche is so small that there are not a lot of opportunities out there if I was to ever God-forbid lose my job. I’m trying to diversify by learning more marketing skills and branching out into social media (hello, blog) but I have no idea what I would do if I had to pick something completely unrelated to PR.

4. Give money away

Check - I’m sorry to say most of my progress in this category has been in the last year, although I’m starting to give more of my money away to charitable causes. My Random Acts of Kindness fund is just one of the recent steps I’ve taken in this direction.

5. Know thyself

Check - Over the last few years I’ve definitely started to define what’s important to me and my actions have slowly changed to support these priorities.  Sometimes my friends have scoffed at my frugality, but now I shake off the peer pressure by remembering the goals I’m saving toward and reminding myself what I’ve already accomplished through saving. After all, none of them have houses and many are still in debt! That said, five years ago I would have gladly chosen being “cool” and having fun over being fiscally responsible.

6. Know smart people

In progress - I consider both of my parents people I can turn to for sound financial advice, but the article goes further suggesting you have a good tax preparer, financial adviser, attorney and insurance agent, if not on speed dial then at least in your cell phone!

This one may be a toughie for me because I’ve been a little cynical of hiring advisers to help me manage my money/personal affairs ever since a financial adviser friend locked me into a horrible variable annuity.

Of course, one of my 2009 resolutions is to complete a will by the end of March so I’ll need to hire an attorney to make it official. I think the key here is to do my due diligence, interviewing several potential attorneys to find one I’m really comfortable with and one who knows their stuff. Before, I’d always take the easy route, picking the first option out of laziness or a fear of offending someone.

But no longer. After all, I’m turning 30 in just 9 months, 17 days, 13 hours and 45 minutes…

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