Most people get to experience life at its fullest in their thirties. If you’re in your 30s, it’s now that you are likely to start a family, you’re finding your purpose in life or advancing your career.
This period is one of the best decades of your life. Therefore, how you manage your money during this time can have a great impact on your entire financial future. This is why you have to be very serious about planning your finances. We’ve put together a few tips on how you can manage your money in your thirties.
Develop good spending habits
The spending habits you develop today will guide you throughout your entire life. Therefore, it’s important to start establishing sound financial habits. This means you have to avoid unnecessary and impulse buying. Create a savings and an emergency fund and start saving for retirement.
Make saving a priority
If you don’t know how important saving is, it’s high time you started taking it seriously. Make saving a priority! If find it difficult to save a certain amount every month or can’t remember to do it, then set up automatic transfers.
Increase your income
It’s not too late to advance in your career or even choose a different career path that is more financially rewarding when you’re in your 30s. You can go for a masters or get another degree that will help you earn more money each month. Take advantage of every opportunity that increases your income.
Establish a budget with your partner
If you have a spouse or partner, talk to them about your joint finances and remember to budget. Also, ensure you and your partner share the same financial goals so that your views o spending are not different.
Stay away from consumer debt
Debt management is a vital part of sound financial planning. So, try to pay cash for things and stay away from consumer debt, as it usually stays with you for many years to come.