Maybe you're in your twenties moving into your thirties or perhaps you're already there, but at some point you will have found yourself questioning your money situation. Your twenties are for having fun and taking risks but now you're entering a new realm of your life, you want to firmly establish yourself in your career and begin climbing the corporate ladder. This time can throw up some major money pitfalls, but follow these simple rules and you can save yourself from financial stress.

1. Carrying too much credit card debt

Credit cards are risky; it's like having pretend money that isn’t yours. Make sure you don’t fall into the trap of putting purchases on your credit card and not being able to fully pay them back. It's a slippery slope and you can easily rack up a lot of debt that is only going to get bigger. Just think, do I really need these trainers?

2. Only having one source of income

It’s ok to reach out and find other sources of income rather then just one job. People usually tend to stick to one job in particular but this could be a good chance to broaden your interests or explore different areas. Having something on the side of your job could be a great way to provide you with extra money for future plans.

3. Not having a financial plan when you move in with a partner

It all sounds wonderful and lovely when you move in with your partner for the first time, but the part people always forget when merging lives is not discussing money seriously enough. It’s important to have an honest conversation about spending habits and bills. No nasty surprises when everything's out in the open!

4. Putting off planning for retirement

It is hard to think about retirement when it's so far off, but your 20s and 30s are the time you can start preparing for this. You should be taking full advantage of your employers pay package because by saving just £1k a year you could earn potentially a lot of money for retirement. Not a bad idea right?

5. Overspending on houses

It’s great to look forward to the big house in the upcoming area or an apartment with a view, but rent can suck away your money. Don't fall into this overspending trap because chances are you could live somewhere else in a perfectly good area but cut your rent by a significant amount. That extra money each month can fund other expenses or save for the future.

6. Not saving for upcoming expenses

Another thing to consider is saving for any future plans you might have. This could be a car, a trip around the world or to own a house. A little saving each month could make those dreams become a reality.

7. Expecting a standard of living that is beyond your reach

It's easy to compare ourselves to others and want what they have, but this won’t secure happiness if you cannot afford these luxuries. Trying to keep up with someone else’s standards won’t get you anywhere. It takes time but you will eventually get to where you want to be.