A financial planner and successful entrepreneur explains how you should manage your money in your 20s, 30s, and 40s

Tedx Talks

When it comes to managing your money, there are certain rules to live by no matter what your age or life status might be.

Things like having zero credit card debt, building an emergency fund and saving for retirement are always going to be critical components of a solid financial foundation.

That said, there are certain items worth zeroing in on and additional goals to consider depending on whether you’re in your 20s, 30s or 40s. Let’s break down some of the best money goals and management tips by decade.

If you're in your 20s …

Know your numbers

Lay the groundwork

Twenty-somethings have two powerful things working in their favor: 1. They tend to have fewer responsibilities and 2. They have time on their side.

This puts them in the absolute best position to lay the groundwork for a solid financial future.

It means the following: Start to put money into an emergency savings fund (ideally at least three months' worth of take-home pay), contribute to a retirement account (if your employer offers a match, try to contribute enough to maximize it), and focus on paying off any credit card debt.

If you're in your 30s …

A recent study with LearnVest clients showed that financial confidence takes a dip when you’re in your thirties (it actually decreases by decade). To help make sure you continue to feel optimistic about your financial future, there are a few things to keep in mind: