#FinancialStability #OvercomingBrokeIn30s #AchievingFinancialSuccess
Has anyone experienced being completely broke in their 30s and later achieved financial stability? If so, how did you manage it?
🚀 Overcoming Financial Hardships: A Guide to Achieving Financial Stability
It’s not uncommon to face financial challenges, especially in your 30s. Many people experience periods of being completely broke during this time in their lives. However, it’s totally possible to overcome these difficulties and achieve financial stability. Here’s a comprehensive guide on how to do it.
## Understanding Your Situation
### Embracing the Reality
It’s important to confront your financial situation head-on. Acknowledge the fact that you are struggling and be open to making changes in your life to improve your situation.
### Assessing Your Finances
Take an honest look at your income, expenses, and overall financial health. Understanding where you stand is the first step to making positive changes.
## Taking Control of Your Finances
### Creating a Budget
Develop a realistic budget that takes into account your income and expenses. This will help you track your spending and identify areas where you can cut back.
### Managing Debt
If you have any existing debt, look for strategies to manage and eventually pay it off. This could involve consolidating debt, negotiating with creditors, or seeking financial advice.
## Increasing Your Income
### Side Hustles
Consider taking on a side hustle or freelance work to supplement your income. This could involve offering your skills and services online or finding part-time work.
### Investing in Yourself
Explore opportunities for furthering your education or acquiring new skills that could lead to higher-paying job prospects.
## Building Savings and Investments
### Emergency Fund
Start building an emergency fund to cover unexpected expenses. Aim to save at least three to six months’ worth of living expenses.
### Long-Term Investments
Look into long-term investment options such as retirement accounts, stocks, real estate, or other assets that can grow your wealth over time.
## Seeking Professional Help
### Financial Advisor
Consider consulting with a financial advisor who can offer personalized guidance and help you develop a comprehensive financial plan.
### Credit Counseling
If you’re struggling with debt, credit counseling services can provide valuable assistance in managing your financial obligations.
## Staying Motivated
### Setting Goals
Establish short-term and long-term financial goals to stay motivated and focused on improving your financial situation.
### Celebrating Progress
Acknowledge and celebrate the milestones you achieve along the way. Whether it’s paying off a credit card or reaching a savings goal, celebrate your victories.
## Maintaining Financial Stability
### Creating Habits
Establish healthy financial habits such as regular budgeting, saving, and investing to maintain your financial stability.
### Continuing Education
Stay informed about personal finance and economic trends to make informed decisions about your money management.
## Conclusion
Achieving financial stability after experiencing complete broke in your 30s is a challenging journey, but it’s absolutely possible. By taking control of your finances, increasing your income, building savings and investments, seeking professional help, staying motivated, and maintaining financial stability, you can overcome financial hardships and create a secure financial future for yourself.
Incorporating these strategies into your life can help you achieve the financial stability you desire. Remember, it’s never too late to take control of your finances and build a brighter financial future. If you’re facing financial struggles, know that there is hope and a path to financial stability. Keep pushing forward and never give up on your financial goals.
For more personalized assistance and guidance in achieving financial stability, feel free to reach out to our team at [Your Financial Services Company]. We are here to support you on your journey to financial success.
For me it was learning that I had a highly marketable skill that I practiced for free without realizing it. Once I learned of that, I took a couple weeks to learn the basics of business and went from there.
What we become passionate about usually comes from what we’re good at, and not what we’re interested in. Think deeply on what comes naturally to you and look into careers, services, or trades that align with it.
There absolutely WILL be something, you just have to find it.
And don’t spend all your money on Andy Capp’s hot fries
Rode the tech wave and got hired by big tech. Went from being a neet of 10 years to making 200k
I wouldn’t say I’m completely financially stable but I started bartending on the weekends in addition to full time work and I’ve been able to actually build up some savings for the first time in my life
Increased income, less impulse pending.
Started happening at 38, now 46 and still reading others posts and the responses looking for the answers or at-least looking for hope. I lost a career in 2016 and it domino’ed into BK in 2019. Still 4 years later I miserably work as a car salesman and can’t figure out what made me so good at my job in speciality/indirect finance for 20+ years. If I can ever determine that, I may find a good road to travel.
Hod on to hope and have faith, you’ll catch a break eventually, when that will happen, no one can really answer.
yup, passed the CPA exam a few months ago at 45…..
Listen, if you aren’t keeping up to date with economic news, there are reports that 1/3 of millionaires consider themselves middle income now.
There are people making 6 figures in San Francisco that live paycheck to paycheck.
Your average person makes around $36k yearly.
So think about that for a second. If you were to multiply your income by 6 times (obviously you’d have to land that job which may require moving like to new York or San Francisco) all that money gets set on fire due to the cost of living increase for the new area you moved to.
If you’re lucky enough to work remote, you’re still likely going to have to deal with inflation or the eventual occurrence of an economic crisis or crash that is due any time that wipes everything you’ve worked for out.
The problem isn’t you and what you are doing or aren’t doing.
When we comply to a ponzi scheme as a system to govern our lives and accept it as our truth, we will always get hustled and taken advantage of.
That’s what our monetary system really is, a government backed ponzi scheme.
When they can enter digits into a bank account to show that you have money that is worth something, where you can use and exchange it for goods and services, it’s a scam, one that we all fell for.
How do you obtain financial security and stability in a system that’s a scam?
Changing jobs and learning my worth for what I know and bring to the table in IT.
I don’t reinvent the wheel or do anything that’s groundbreaking, but giving a shit and being able to go from macro to micro thinking are skills you can’t teach
I was mostly homeless on purpose from 21 till 32, then lived with my girlfriend and her family for a couple years, working at Walmart. Then moved into an apartment working as a dishwasher. Been working regularly most of the time since and living in apartments, usually with roommates to keep costs down. Recently financed a 2017 Volvo while working a $21/hr warehouse job but moving to Oregon soon to look for a different job. Though having decent money and apartment hasn’t really done much aside from being more comfortable. I got laid a lot when I was homeless. Now I haven’t had a gf or sex in 15yrs.
Learned some more tech skills, did a lot of resume workshops and career coaching.
Wasn’t completely broke but was just treading water in tech. Wife started a small business and 13 years later we have 4 houses and almost 7 figure income while being retired. Crazy how things go sometimes. (Education business before anyone asks)
I was homeless in my 20’s, broke in my 30’s, and now, in my 40’s, I have a trade and I can afford to just be poor.
Marriage.
Was totally broke at 31 – as in 9 dollars an hour.
At 39, I make 160k and on track to hit 200k by 41.
The 30s were a fun decade, to say the least.
I was a high school drop out, got my ged, went to college at 26 – graduated at 32…first job out of college was high profile ivy league level NYC financial consulting.
I am broke and 33… I hope there is a way.
I had about $80 in liquidity to my name once.
You can turn it around if you make better decisions and work at it.
I got into a union apprenticeship and did my fucking best to stay employed.
Woof I need to see this
How did I manage it? I shared/split all of my expenses. I was able to get my monthly living expenses down to about $1,200/mo. $500 for rent, $200 for utils, $100 for transportation/car, $200 for food, $200 for contingency/incidentals.
10 years ago I was 37 and had made a total of about $40K of income from my job in 5 years. I was living off unemployment and splitting cheap rent in a VHCOL city. I owned properties, but the rents left me short about $1K/mo. By the time I was able to make some money, my net worth was -$300K.
What happened since then?
I met my wife. I found a job. My wife had a good job and was able to buy our home. I became successful at my job as the economy has been good for my industry. My properties recovered their lost equity. I sold a couple of poorly performing properties and bought better ones. 10 years later I’m partially retired and work when I feel like it. I make about $8,000/mo. of passive income from RE investment.
I was in Eng101 with teenagers at 33. Just paid off a $2.3 mil house
Dropped out of collidge. Started construction company. 8 years of struggle earning bellow poverty. then I learned to focus and run the business
I was nearly broke when I got divorced. Then I worked hard for seven years, invested, now I’m ok.
Painstakingly paid off all student loans
Yep.
I went back to school in my early 30s. Finally finished my BA and got an MS, too.
I was making about 20k the first half of 2018, and now I make 90k.
I went back to school and got a stem degree. The Obama unemployment money was instrumental in helping me do that.
Most I’ve ever had to my name was 14k in 2017 at the age of 36.
Currently I have a couple hundred dollars.
Between that I was 55k in debt after getting married. Just paid that all off.
In 2021 I got a job as a lab tech for walmart, leveraging my training. I’ve had at least three different careers, four if you count the one I am doing now. I have just been promoted into management, this year will be the first that I average working 40 hours a week for the calendar year for a single employer.
I’m 42, If I can do it, so can you.
Little older but filed for bankruptcy at 42 after a near divorce and I’ll pull down $210k this year. Work your ass off while you can.
I had about 100k negative net worth at 28.
I’m 10x positive that at 42.
Couldn’t afford to fill my gas tank at 32. Was donating plasma and starting the process of joining another paid human clinical trial.
Taught myself how to code. Got a job as a SWE in big tech and ~2 years later I’m sitting at ~$150k in investments (a significant chunk is illiquid but I’m counting it as a W given my past).
And this is while paying off a significant amount of cc debt, taking 3 international trips, and spending thousands on clothes/shoes.
Life has completely changed and financial goals that I used to dream about are realistic now. Just gotta avoid being laid off and hope the market trends the same way it has in the last 20 years for 3-5 more years🤞
I was broke mid 20s, I was in a nursing program (2016) that I hated and ended up dropping out after first semester. I worked odd jobs after that and was completely lost and depressed. Warehouse here, freelance there etc etc. in 2019 I read a book by a bunch of ex wallstreet guys and one of the advice they had was get into sales. I broke in the industry and rest is history. I’m still in sales fully
Remote and building a supplement company with a friend now. Case ur wondering I hit six figures 2nd year in sales. Before that I never hit more than $38k a year in any job I had. and was in danger of really becoming a 30 something year old loser with a very bleak future
Me.
I bounced around entry level jobs once graduating college in 2010 and office politics derailed three careers in six years. I struck out on my own in 2016 to do real estate and rideshare driving. Income was ok, but I went into a lot of debt to get into real estate investing and went bankrupt in 2020. Then, I got a job at UPS in 2020 just as Covid shut everything down. It ultimately led to getting a spot as a package car driver, which has been an absolute blessing. I finally have the financial stability and security I longed for that I thought I would never get working for someone else and couldn’t provide on my own when self-employed.
Life never works out the way you think it will, but it always works out the way it is meant to be.
I went to college for plant biology because it was my passion – but no one tells you there’s no money easily made in a field like that unless you want to get a PhD. This was not an option for me. I worked as a lab tech for a major university for $9-$15/hour (TN, USA) for years after college and my finances suffered greatly for it.
When I finally left academia, I took a break for a couple years and doordashed/Ubered during covid just to have a chance to relax and get my head straight. Finally in 2023 I did a mere couple hours googling and found a job at a major plasma company’s reference laboratory working night shift for $25/hour via a staffing company. I finally have a savings, I’m applying to buy a house with a lower payment than I pay for an apartment, and I can finally afford basic necessities without going into debt.
Also I’ve never had a car payment, a major phone company plan, or expensive hobbies.
I went back to college and got a degree
Yeah it’s been mentioned a few times here but I think operating in some sort of sales capacity is your best bet. I would suggest avoiding large companies unless they are hiring you in an agent capacity (e.g., State Farm agent). Large and even medium companies are in a constant state of change and will continue laying people off at the absolute worst time to lose a job.
I was broke from 29-30 and I’m 31. I got 2 car repos, one my wife got in an accident and I only had no fault and owed like 10k, and the other was a lemon that broke down 4 months into having it and the fix would’ve cost like $5k. My credit went from 670 to 400 because I lost my job due to not being able to get to my job because no bus goes in that direction since it’s far into the suburbs. My wife’s job was close enough so she could walk and I had to find a temp warehouse job just to afford another car.
Now as for savings, I was bad with saving imo. I always keep traveling, and eating out to the point I was making us live paycheck to paycheck, I think growing up being super poor probably helped contribute to me spending too much, I recall me and my wife only having like $3k total between the 2 of us and only had enough to get 1 car so we got lucky that a guy on my mom’s street was selling a ford fiesta 2019 for cheap because we knew him for years and he was kind enough to help.
Fast forward I know my credit was terrible. Having 2 repos and a maxed credit card didn’t help. I was sad because I keep telling myself I’m just dumb and I won’t ever stop being poor but then I just woke up and said I need to find a job that I can work up to 60hrs a week that pays between $17-$20 an hour which I did at a shit warehouse working from 7am to 5pm-7pm Mon-Fri I did that for like 3 months and my wife got a part time job so we both worked like crazy. After that I got a job delivering for hello fresh and it sucked but it wasn’t tough, just dead end. I knew I needed a career so I got my A+ cert and got a help desk job making $45k a year, which was less than my warehouse job but it still was good,
Fast forward to now, we got a good amount of savings, my credit is at about a 660, I used a lot of credit repair services to get stuff off, and we have enough to at least be ok for about 7 months. My wife just got a job from her bootcamp so we hit like over $100k a year between the both of us, which is crazy because 9 months ago we was damn near broke.
My only advice is if you fuck up, it means you gotta work 2x as hard to get outta the whole your stuck in, but it’s not forever, have a clear plan on what can you do to make more money, most jobs you can get from a temp agency are some of the worst places to be, however a lot of them usually have OT, so you can make $1k a week working them. Also I had to make sure I was too tired to spend any of the money so I didn’t get tempted to spend lol.
On food stamps at 30. Multi millionaire at 40. Started a business. Spent every wake moment obsessing. Sold 10 years later and I never need to work again.
I was poor at 31 as a PhD student but became rich by 32-33 after graduating and working full time. Again became poor at 37 due to subprime meltdown and rich at 39. You have to find your next calling.