Ask Money Mom: 'How much money should I have by the time I’m 30?'
Photo: Lambert/Getty Images Ellie just turned 29, but money-wise, she feels stuck at 22. It seems like she’ll be in debt from college and graduate school forever. Her job at an art museum in Manhattan pays a little over $70,000 — enough for her to afford her loan payments, rent a studio in Brooklyn, and do fun things on weekends, but she’s not saving anything.
These gold standards are not only unrealistic, they’re way too uniform. One of my friends owed $250,000 for medical school at 30, but now makes over $800 an hour as an ER doctor; another planned to open a business at 29, but was set back by a year when an unexpected health issue drained most of her savings at 28. Would you lecture either of them about her lack of savings at 30?
Personally, I used to avoid this process like the plague. Throughout my 20s, looking at my bank account would send me into a clammy-palmed shame spiral. Moderate expenses — the occasional haircut, clothing at sample sales, and drinks with friends — always added up to more than I anticipated, which made me feel like an idiot. The only way to get over it was by deploying an immersion tactic: I now get a text message with my checking account balance every single morning .
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Having Sex in a Crawl Space Showed Me I’m Not As Chill As I Thought'I so wanted to cling to this idea of myself as a chill, spontaneous girl, and there was no way she would have a problem with this. I marched up that ladder, and slid myself onto the air mattress.'
Read more »
30 of the Best Comedies of All Time, RankedWhat is the best comedy film ever? Looks like the people have spoken.
Read more »
What Does My Dog Think I’m Doing When I’m Watching TV?What does your dog think when you're watching TV? Experts weigh in
Read more »
I’m Cheap But I’m Still Fun and Have Friends!'I prefer to spend less when I’m alone, which lets me spend more when I’m with others'
Read more »
'Seinfeld' turns 30: A look back at the incredible cameos on the showCan you believe 'Seinfeld' was released 30 years ago today? Here's a look at some amazing cameos.
Read more »
TooFab's Week in Celebrity Photos: June 30 - July 6Lisa Bonet and Jason Momoa’s daughter does RARE event with them – and she’s so stylish! (via toofab)
Read more »