How To Be Wealthy In Your 20s or 30s

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This post is sponsored by Lexington Law, thank you for supporting brands who support TCM. As always, all thoughts, opinions, experience, and advice are my own. This post contains affiliate links.

Wealth does not happen over night. It's grown, cared for, and nourished. I mean how many lottery winners end up with nothing? A LOT! That's because wealth isn't just about having a massive number in the bank, it's about your habits and relationship to money that allow you to not only generate a large sum of money, but sustain it! Your twenties and thirties are a great time to lay the foundation for life long sustainable wealth.

How To Be Wealthy In Your 20s or 30s

Money Mindset

Mindset is everything. Let me tell you this: where focus goes, energy flows. If you keep focusing on everything you don't have, the fact that you don't have it will continue to grow more and more. If you focus on the wealth you are building, you'll see it grow and grow. Why is that important? Because it's a lot easier to eat a box of donuts if you've been going to the gym for a few months and still aren't fitting into that pair of jeans. The same goes for your finances.

If you keep focusing on the fact that you aren't living the most Instagrammable life, it'll be a lot easier to keep blowing your money on pointless purchases. However, if you focus on what you're building towards and are in the right mindset that you can and are actually becoming wealthy, miracles will happen! You'll stay on track with the tips in the post and before you know it not only will you feel wealthy, your bank account will reflect it too!

Stop procrastinating

There is no time like the present. If you want to build wealth in your twenties or thirties, you need to stop procrastinating. You need to stop telling yourself “tomorrow.” Today is the day to pay off your debt. Today is the day to open up your retirement account. Today is the day to understand your finances and learn about growing your wealth. So pat yourself on the back because reading this is a step in the right direction!

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Get in financial shape

You can't run forward if your feet are stuck in quicksand! Clear our all the debt holding you back first and foremost. You need to look at your current financial practices and evaluate what changes need to happen so you never go back into debt. Enlist the help of professionals at Lexington Law to help you get started on repairing your credit too. Again, growing your wealth has to do with your ability to maintain and sustain the money in your accounts.

Take advantage of free money

FREE MONEY!? YES! Seriously, it's a thing. Whether it's being a subject in market research, doing surveys online, or your employer is willing to match your 401k contribution, there's free money floating all around! Use your free time to find it and take advantage of it.

Live below your means

One of the fastest and easiest ways to grow your wealth is to live below your means. Pretend like you didn't get that pay raise. Divert funds directly into savings or investments so it's out of sight out of mind. Avoid lifestyle inflation at all costs.

Practice Gratitude

We talked about your money mindset, well here's a little reminder to stay on track with it! Take time each day to acknowledge all that you do have and the progress you're making. From checking your bank account regularly, to putting $5 a week into your retirement account, to not ordering that drink while out because it's so over priced – these are all moments worth celebrating.


Compounding interest is your friend! Your youth is also an asset in growing your wealth. Take the time to open your 401k or IRA and put money into regularly. Thanks to compounding interest, the benefit of starting now versus ten years from now can often times be twice as much! Meaning if you start at 29 instead of 39 you could have $1 million in your retirement account versus $500,000!

Not comfortable with investing? You're not alone! A study found that 46% of millennials wouldn't invest in the stock market. Consider working with a financial advisor to put together a diversified portfolio instead of taking a go at it on your own. If you're not ready for that yet, check out these 22 science-backed ways to invest in yourself instead!

Create a plan for your money

When you can create a plan for your money you can get in the mindset that every dollar is already accounted for. This makes it less tempting to go rogue on random purchases. Figure out what percentage or a dollar amount you feel comfortable spending on rent, investments, food, etc. By creating a plan for your money early on, it will also make it easier to continue living below your means as your wealth increases.

Increase earnings

When we enter the workforce we don't realize it, but we are typically putting a ceiling on our earning potential. Most people agree to a salary quickly and naively, forgetting that they'll likely only get an increase of 1-2% or up to 5% annually. Sure, you may be able to make some strategic job switches where you can get a 10% bump, but if you're starting at $30k, how long is it going to take you to get to six figures? You have to figure out how to position yourself to break the mold and increase your paycheck. You'll also want to add in additional revenue streams. Here are some tips for how to make passive income. Increasing your earnings raises the financial ceiling on your shoulders.

Take risks

It can be a lot easier to play it safe. Putting your money into your checking account week after week. But you're never going to become wealthy that way. You have to take risks and step outside of your comfort zone. Break up with your college savings account and move your emergency fund to a high yield savings account. You have to experiment with stocks and other types of investments if you're going to move forward and truly build wealth.

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Repair your credit

Even if you think you don't need your credit for anything anytime soon, having bad credit can cost you! Here are 7 ways you're losing money because of your bad credit. If your credit is bad, unfair, unsubstantiated, or inaccurate consider working with the professionals at Lexington Law who are here to help. You can get a free credit repair consultation with Lexington Law Firm here.


While you're physically building your wealth in the background, now is a great time to volunteer to grow your wealth in the here and now. Too often, when we think about becoming wealthy, we picture a massive yacht and private jet. Forgetting just how wealthy we are with running water, internet, and a roof over our heads. Take some time each month to volunteer as a reminder of how rich your life truly is.

If you're looking for more ways to grow your wealth in your twenties or thirties, check out these personal finance tools!


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