In your 20s being perennially broke, living from month to month, running up huge bills may be considered cool or baby steps to gaining financial independence. But if you are in your 30s and the narrative hasn't changed a bit then it is time you look at the common money mistakes you may be making. Here's a few we identified for you 

Lesson 1: The Wedding Bill

The dreaded 30s also the time when the parents start pressurising you for marriage and to settle down and you get the drift. Naturally, the first step towards that is a wedding and if you are one of those who believe in having your nuptials at a Jaipur palace, engagement at the Taj and reception at a Malibu beach, think again. You may have a fat balance before these ostentatious celebrations but check your account after that. That’s lesson number one for you – Do not blow up all your hard earned cash or your parents money for a wedding that can even be done on a much calmer scale. You will thank us later.

Lesson no 2: Also involves marriage and financial honesty

Presuming that most of the people in about to become 30 or are in their early thirties, are either married or looking to get married. It is better that you begin with the words ‘financial honesty’. Be upfront to your spouse, or your future partner. If you have a gambling problem, or you are a shopping addict let them know. If you have an outstanding loan which is massive and needs attention, or have already committed to a future financial investment without their knowledge, keep them in the know. It will be wise so that there will be no surprises later. It will help you plan your financial strategy for the future in advance, preventing any unreasonable arguments between you two.

Lesson no 3. Ignoring the future and splurging on a house.

You have bought a house and you are just 30. Wow! That’s an achievement. We bet it feels good to hear from others. But before you spend on a house way beyond your means thinking that your house loans will take care of themselves step back, look at what your account is screaming at you. It is ideally recommended that unless you are expecting a  stable source of income from either yourself or from your spouse for the next 10 to 15 years, do not attempt it. Tomorrow anything may happen- you may resign from your job, be hit by a financial crunch or if you are a couple, one of you may stop working, so keep all these factors in mind. Do your property research well, you  would not want to be stuck with a house or land under litigation.

Lesson no 4. Taking up a short-term job just because it is offering you more money.

At 30, instead of jumping around from company to company, your resume should reflect a decent amount of stability. Just taking up a job because it is good short term money does not make a wise decision. There is no compulsion that your next job will offer you a raise and all you did in the past 6 months or one year will be for nothing. Companies will be looking for serious workers at this time and a jumper does not bode good for the bank account as well.

Lesson no 5 You don’t need a Porsche or an Audi in your garage. Stop spending on cars that you won’t need

Do you know how much those cars cost in maintenance? Most of us spend approximately 10- 12 hours in front of a computer or cooped up in a cubicle among numbers or paperwork. The only time you get time to drive your car or ride your bike is on the weekend, because office commute is some of the most stressful moments of the day if you are working in a state which just doesn’t understand traffic rules. You are 30, married or unmarried and nowhere is it written that if you don’t buy a car or a superbike, you will no longer be considered cool. Consider the amount you will be saving in fuel if you don’t buy one. Public transport is the best way to go. Buy a car that is within your budget and not because you want to show off, car loans and on top of that a house loan is not an easy financial target to meet unless you have some money squirreled away and a definite plan. Not to mention, if at all you are buying a car, buy one which has good resale value.

Lesson no 6: Thinking you have made it big because of the luxurious life you lead

You may eat at the best restaurants, drive the fastest of cars, wear the most expensive of brands and still.  As you find a stable career, it’s easy to feel like your lifestyle should match your level of financial success. For most to maintain a luxurious lifestyle it often becomes burdensome and your lifestyle needs the support of loans. How we use our money shouldn’t match your age, or even salary. Make choices that will reflect well in your future and in your 40s when you look back at the amount you have saved by not overdoing the above will have you feel proud of yourself.

Lesson no 7:  Do not make debt a way of life

If you think paying off credit and loans and debts from your student life will not be a big deal in your future life, think again. As you grow older, your responsibility also grows and if you think the way is going to be easier ahead, well, the harsh truth is No it only gets tougher.  But if you make the mistake of getting too used to debt, you will hurt yourself financially. You will have to keep worrying about yesterday’s expenses and debt will not make tomorrow’s expenses happen as well.