Most people know that it takes commitment and deliberate effort to prepare for our financial futures. Little things that we choose to do, or not do, today can have a ripple effect that can impact finical stability years down the road. Lifestyle choices today can set us up for success or failure down the road. With this in mind, here are five financial mistakes you will want to avoid while you are still in your early 30s:

Side view of beautiful young woman reading book on bed at home. Female model in nightwear sitting on bed read a novel.

Not Planning for the Future With a Will

Students have shown a worrying trend that more young people are not planning ahead and thinking about their long-term future. Nearly 78% of Millennials who were born between 1980–1995 do not have a will of any kind. A surprising 64% of Generation Xers who were born between 1965–1980 also have no final will in place. This can be very bad because it puts your finances in jeopardy. If you were to be incapacitated in any, then your finances may be vulnerable. A will can protect your savings and investments if something like this occurs.

Spending Money Needlessly on Fees

If someone was charged with a DUI or similar offense and had their license suspended, it can spell all sorts of trouble for them financially. Getting to and from work becomes much more difficult and there can be a wide range of fees and expenses associated with trying to get that license reinstated. If you have lost your general driving license but still need something for use while at work, then you may be eligible for an Occupational Driver’s License. This is just one example of money-saving things you can take advantage of that can make it easier to save money by reducing fees and expenses.

Not Considering All Employment Options

According to a survey by AfterCollege, almost 68% of millennials looking for a job reported that they would be more interested in a job if it was remote. Everyone needs to work to make a living and to have the income to support themselves and their family. But far too often, people always look for the same types of jobs in the same general industry and are unwilling to branch out and try something new. With the growing interest and demand for online jobs and businesses, this is a job niche worth considering.

Failing to Budget and Save Money

It takes money to live and the overall cost of living in almost every area of life is continuing to rise year after year. It is critical to protect your future financial situation by saving and budgeting carefully now while you are still young. Making a personal budget can help you save money week by week and makes it easier to build up a savings cushion for yourself. Over time those savings can form a nice retirement fund that can make life after retiring a lot easier. Failing to properly budget and save money now can really make things harder down the road financially.

Focusing on Everyone Else Too Much

The final mistake many young people have made by the time they reach their 30’s is they are overly concerned and even obsessed with other people. They constantly compare themselves to others and what other people are doing and what other people have. The primary focus should be on yourself and your own unique financial situation and needs. It is better to miss out and not get swept up in social drama and distractions and be able to plan for your future financial needs. That should be the ultimate goal of any young person today.

Planning for the future financially can be challenging and intimidating at times. Several lifestyle changes may be required, but in the end, they are always worthwhile! So take that first step today and take control of your finances now, rather than putting it off for yet another year.