Getting Your 30s Off To A Better Financial Start

It’s normal to be a little financial irresponsible in your 20s.

The ‘FOMO’ (fear of missing out) culture often means spending is high, and savings are low or even non-existent. However, as your 30s approach, and big life events start happening such as getting married, buying a house or having children, improving your finances becomes more important.

You can remedy a 20s spent spending ready for a stronger financial future. Take a look at some of the things you can do to get your 30s off to a better financial start.

End all bad relationships… with debt

Debt can hold you back from many things. Manage it poorly and it’ll affect your credit score, and if you don’t bring your balances down, you could end up spending a large portion of your 30s paying it off. Make a plan to pay back your debts using your available finances to help you prepare to save in the future. Don’t let debt bring you down – there are solutions to help you pay it off and enjoy a clean slate.

Build a lasting relationship… with saving

Just because you haven’t been a great saver in the past, doesn’t mean that you can’t change your ways. Even small savings can make a difference and will teach you about being more responsible with your money. With your debts clear, you can start saving money and start achieving some money goals.

Start planning for retirement

You might have only just entered your career, but now is the time to plan for the end of it. While you’ve still got decades to save, you can look at securing a good pension for yourself, and a savings plan. If you want a comfortable retirement, or even to retire early, then investing could be the best way forward to build your nest egg. Look into options such as forex trading, property investments and stocks and shares to help you grow any savings you have and build a good fund for your future. It helps to speak to a financial adviser about long-term investment options to help you decide on the best retirement plan for you.

Make wiser spending choices

As you grow to realise the value of money, you’ll start thinking twice about your spending and ponder more over big financial decisions. Sticking to a food shop budget, not blowing all of your pay on clothes and doing price comparisons will help you spend more wisely, which will stop you getting into debt and help you save more each month.

You might not have given much thought to your financial future in your 20s, but it’s never too late to start. There’s a lot of advice out there to help you get started, helping you enter the next stage of your life with some sound financial knowledge. Use your 30s to get your house in order so that you can look forward to a bright financial future.