5 Money Moves To Do In Your 30s

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Goodbye 20s hello 30s!

I must admit I am no longer young and that means I have to reevaluate my money and my finances. When you are already at this age, there are already many things you need to consider. For one, you are no longer young and finally, you will now have different priorities.

If you have been complacent with your money in your 20s, you cannot afford to have the same mistake in your 30s. Plus, you are no longer thinking of yourself but also your spouse and your family. This decade will surely shake your finances and your financial goals. It will get even more complicated. Some of you might be married like me. Some might already have their kids. Regardless of your current 30s situation, I bet these money moves are worth revisiting and perhaps checking for your future self.

Start your Retirement

I know you might come up with hundreds of excuses as to why you are still not having a retirement fund. But let me tell you that as early as now this should be your number 1 priority. I know you are still far from retiring and you still have 30+ years to work. Yet the older we get the higher would be our risks. That is why, as early as now make sure you already have your retirement beefed up. We can even be aggressive with our money since we are still young. Even more, the longer we let it sit, the higher would be the potential returns over time. You can begin putting your money to an investment vehicle be it insurance or investments. There are also retirement avenues that you can duly pay every payday. Just think outside SSS and GSIS. They might be great retirement vehicles but they are not enough.

Pay Debt

We will always have debts one way or the other but the important thing is we pay it. There will also be life circumstances that require us to borrow or loan amounts but still carry on. Pay for it. The important thing is that you won’t skip a payment as this will entail interests and late charges. But when it comes to debt, always assess upon purchase if it is a need or a want.

Save up for life changing events

30s always call for life changing events. This might be the decade where we get married, have kids or even send our kids to school. Those life changing events need money. And they are not simply a few thousands to begin with. These events are huge, so does the money it needs. That is why, it would be important that you get to have a separate account for it. Since I am already married, the next life changing that we need to be ready would be to have kids. That is why, as early as now we get to save for this life changing event.

Get insurance

Insurance at this age of ours is still inexpensive. The older we get, the more expensive this will become. And mind you when I say that insurance is essential. Build your financial foundation by having one. There are already varied insurance plans that would suit best any preference and amount. That is why, it would be important that you slowly pay for you, your spouse and even your kids.

Increase your savings

There are still other things that might come in your 30s that a hefty savings account can help. This might be pursuing investment, building a business or perhaps beefing up your emergency fund. Whatever the case might be, a good savings account will come in handy.

30s might be full of uncertainty however, be not uncertain with your finances. As early as now, steer it to the right financial direction. Your future self will thank you for that.

P.S To those doing the 52 Week Money Challenge, it is Week 22 already! Did you deposit the next amount yet?

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