Financial Mistakes Common in your 30's

Sylvester Knox
2 min readJan 24, 2022


This article will go over some of the mistakes people make in their 30’s that can lead to more financial problems. Although it’s not possible to avoid all mistakes, by learning from these, we can minimize the amount and grow rich!

Social Competition With Peers

Everyone wants to be the best, as a child or teen it is easy to see who’s the best in sports or looks. As we age through our 30’s, it often becomes more about money and social standing than physical performance. This is not a bad thing, but we should work hard and earn our money. However, what can become an issue is if too much of your financial decisions are based upon what your friends or co-workers make at their jobs . The more you spend on social status (a big house or fancy car, etc.), the less you may save and invest.

Not Creating A Budget But Just Spending

In our youth, we often spend without thinking about the consequences. We spend on toys and food and pay for bigger trips on the weekends. As we get older, our spending habits are sometimes out of control. This can lead to financial problems over time. If you buy too much food, clothes, and entertainment that you don’t need, then you won’t have money to save for retirement or your kids’ college education.

Lacking Emergency Fund Savings

There are never guarantees that you will get a raise or find a better-paying job, so it’s always wise to put money away for an emergency. In your 30’s, it is also a good time to make sure your debt is under control and have an emergency fund (a few thousand dollars) in case of illness or job loss. The easiest way to accomplish this is to automate your saving by having money taken out of your paycheck, you won’t miss it, and it will grow into something big over time.

Overspending On A House

Many people will be able to get a mortgage on a good house that’s in the right neighborhood, or maybe it’s a condo your parents bought as a second home. Either way, you are committing to paying for an expensive real estate purchase with no guarantees that you will be able to sell the home in 3 years. Many people spend too much money on the house and then later realize they made a mistake by spending too much money on something you can’t sell.

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Sylvester Knox

Sylvester Knox is the President & CEO of the Knox Group Investment Advisory Firm |