Can You Reach Financial Freedom by 30? Hell Yeah!

You can read all of the books and blogs on budgeting, credit card debt, and personal finance that you want. None of it means a thing until you commit to becoming financially free. Are you ready to do this?

If you’re already thinking of excuses, just please do us all a favor and leave. If you’re ready to take action, stick around my friend.

“If you end up with a boring miserable life because you listened to your mom, your dad, your teacher, your priest, or some guy on television telling you how to do your shit, then you deserve it.” — Frank Zappa

The whole goal of Studenomics is to be financially free by 30. I don’t care about budgeting or becoming financially literate or any of that other boring crap.

Hopefully for some of us, freedom comes sooner. For others, it might take a bit longer. It’s not how you start the race, it’s how you finish that matters.

This site started off as a place for me to share advice with my fellow students on how to save money. It has since evolved. Just because I still can’t grow facial hair it doesn’t mean that I can’t grow as a person.

How can you be be free by 30?

Let’s not repeat ourselves here.

If you want to crush college debt, you need to read about how I graduated debt-free from college. Once you deal with debt, you can move forward with working towards financial freedom.

You should also check out my ultimate wealth building plan to be on top of your money and to have a plan for the future.

In there I mentioned a key tenet of mine…

My view on money is simple:

It’s a lot easier to do things and enjoy yourself when you actually have money saved up, debt paid off, and bills paid. Money isn’t everything, but it sure does suck to be broke or constantly in debt.

I will always stick with that philosophy.

There are three key areas to tackle here:

  1. Where and how you live.
  2. How much money you have coming in and going out.
  3. Your lifestyle.

Where you live and how you live.

Where do you live and how do you live?

This will determine everything. You can make a ton of money, but still be broke because of housing-related expenses and such.

If you live at home forever, you might not reach your full potential because you’ll never take any risks since you’re used to a certain comfort zone.

You see where I’m going here?

Sure, you can save a lot of money by staying at home, but it won’t always be worth it in the end.

What you need to do is figure out your living situation and to ensure that it’s conducive towards you becoming financially free by 30.

For example, a huge mortgage on a home that you really can’t afford won’t help matters.

Can you rent? Can you move to a location where things are cheaper?

How much money you have coming in/going out.

“Money can’t buy happiness, but it will certainly get you a better class of memories.” — Ronald Reagan

What’s your income like? More importantly, what are your savings like?

We’ll break this section down into: investing/increasing income and working on savings.

Investing money/increasing income.

“Money was never a big motivation for me, except as a way to keep score. The real excitement is playing the game.” — Donald Trump

There are so many options here. I would advise that you follow the strategy of Warren Buffett and do what you know.

You can buy a rental property for a side income. You can start an online business if you’re into that kind of stuff. Both of these will allow you to increase your income for the future. If you’re far from 30, that’s perfect because you have time on your side and can wait while your business takes off.

My free training material on freelancing is important if you want to increase your income. You can freelance by performing something that you’re already good at to make more money.

More money = more savings. This will help you become financially free earlier in life.

What about savings?

You can make a ton of money, but if you don’t save it, what does it matter? There are all sorts of broke celebrities out there.

The goal here is to pay yourself first, put your money away, and then spend the rest on expenses/life.

This leads us to the next point…

Your lifestyle

Having fun is important. I don’t want you to think that I’m going to suggest that you always stay in and never do anything.

I need to state this: if it’s not fun it’s not worth it. Don’t follow any diet or financial advice that suggests you cut out all fun. That is so lame!

We already looked at how you can drink without going broke. We talked about the economics of your love life.

What’s left to go over?

The importance of creating a lifestyle that ALLOWS you to work towards financial freedom.

You can have anything that you want, just not everything that you want. Your lifestyle choices will determine if you can be financially free by 30. Remember that. Think about this the next time you’re out buying useless crap.

Cheers to your freedom.

[If you want to have me hold your hand through this process you need to enrol in my course on achieving financial freedom by 30. Check it out right now!]

“Life is like playing a violin solo in public and learning the instrument as one goes on.” — Samuel Butler

13 thoughts on “Can You Reach Financial Freedom by 30? Hell Yeah!”

    1. Savings goal is $200k. Income over $70k/year. This post is more about the mindset to getting there. Will look at the numbers in the future. You’ve already done a great job in covering that over at Financial Samurai.

      1. Financial Samurai

        Good to know the numbers. $70,000 is definitely a handsome income to have where a single person can be happy and probably do whatever.

        The question is, how does one get there.

  1. I won’t quite hit the debt free mark at 30 unless I get a cash windfall but 2 extra years isn’t too far off the mark. I could get rid of it before 30 but it would require sacrificing 401k/IRA contributions. That’s not really a sacrifice I’m willing to make since I can’t get those years back.

  2. Hey, Martin- every time you do one of these posts I feel like I need to get something started. If you don’t knock it off, I may actually end up doing something 🙂 Of course, it’s a little late (ahem, 20 years) for me to be financially free at 30 but still… Good post!

  3. Well, I didn’t even start trying until 30, but I’m shooting for more like 40. But 40 is the new 30, right? I should be debt free by then and pretty along the way towards having my retirement fully funded.

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