Your 30s can be some of the best moments in your life. Whether you’re pursuing your career, starting a family, or enjoy your surroundings, your 30s are a time of pure potential.
However, your 30s are also a time where your finances either control you or you control them.
Don’t let money control your life. With smart money moves to earn and save, you’ll be able to enjoy your 30s and help set you up for life down the road.
Set and Follow a Budget
Budgeting is one of the best money management tips out there. That’s because a budget shows you how much you earn and where your money goes. It allows you to save and pay off debt while still living life. Get that budget going right away if you haven’t yet.
Set Yourself Financial Goals
Goals are an excellent way to keep you focused and motivated on your financial journey. Set yourself small, attainable goals that you know you can achieve. They can be anything from paying off a credit card, student loans, earning a certain amount in a year, or saving for a family vacation.
Bring in Side Incomes
Whether you have everything paid off or not, having a side income is always beneficial. You can use the extra cash to pay loans or as your spending money. Luckily in today’s world, there are so many ways you can earn a few bucks on the side.
Learn to Invest
Investing is an easy way to grow your finances without doing too much. By going with the right broker, you can put money into an investment and let it grow each month. Just make sure to check it from time to time.
Other investments can include things like making trades. If you’re new and not sure where to start, look into FP Markets that connect the trader to the market.
Pay Off Credit Cards
Did you rack up credit card debt in your 20s? You’re not alone. In 2017, those in their early 20s had around $22,000 in credit card debt, and those in their late 20s had about $42,000. That’s a lot of money potentially holding you back.
Work towards paying off credit card debt in your 30s. The longer you take, the more you actually pay in interest fees. So, budget for one card at a time until it’s all paid off.
Build an Emergency Fund
In your 20s, building an emergency fund maybe wasn’t high on your priority list, or even thought about at all. However, as you enter your 30s, setting aside money for an emergency fund can come in handy later in life. Even if it’s a few dollars from your paycheque, every bit counts.
Be Practical
You’ve likely matured in your 30s compared to earlier in life. Your priorities are likely different and more in line with family, work and stability. Make sure your financial moves reflect that as well.
Be practical with what you purchase, how you save and what for. Ditch the status attitude that you need to buy expensive things to show off.
Enjoy your 30s as you take control of your finances. You’ll be thankful you did later in life.
