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May 27

Financial Tips for People in Their Thirties

Reading Time: 3 mins

If your twenties were all about spending and enjoying your life, your thirties are about saving and investing for the future without sacrificing that good time that makes life worth living. Why not benefit from the advice of people who have lived their 30s and have some top tips to offer?  

Goal Setting

When it comes to organizing your finances so you can live a comfortable, secure, and happy life, you need to have some goals. Goals are excellent for giving you focus and helping you to understand that path to financial success. Chances are, you will have numerous financial goals. 

Examples of financial goals include paying off debt, saving an emergency fund, getting a mortgage, and creating a retirement plan. If this all sounds too much, simply focus on one or two priorities and think about the other goals at a later date when you have more resources.

Understanding Retirement

When you’re under thirty, retirement seems a long way off; it’s a lifetime away, so why should you spend your limited money today on saving for a time in the distant future? This mindset is common enough, but it can lead to problems down the road if you don’t have financial plans. 

Although it can be hard to imagine your life in the distant future, the choices you make today will determine how comfortable and secure you are in your later years. Take a look at retired people in your life and decide if that’s the route you want to take or if you want something different.  

Create Budgets

When people think of budgets, it can cause a frown to form on their brows, but budgeting doesn’t have to be boring; on the contrary, it can be enjoyable to control your finances and watch your bank balance grow. Shifting your mindset like this serves you well in your thirties. 

Adopt a why pay more attitude and turn your financial life into a budgeting game that helps you pay off debts, save for the future, and still enjoy your life with sensible spending. Nowadays, there are different ways to create budgets; you can make them the old way or by using an app.  

Make Investments

If you’re in your thirties and you haven’t made any investments yet, don’t stress; there’s still time; that said, your thirties are an excellent time to make low-risk, high-return long-term investments to support your retirement. If you don’t have a pension, learn investment strategies

These days, there is no shortage of information and teaching materials available for investing; all you have to do is watch some online videos or download a free course to learn the basics. If you need some extra help, you can contact a financial advisor or partner with a financial mentor. 

Control Finances

When it comes to finances, people in their thirties are interested in two things, saving and investing. Investments normally consist of a mortgage that provides somewhere comfortable to live as well as some capital security for the future. But these days, a mortgage is hard to get. 

The good news is alternatives are available; if you don’t fancy paying a mortgage for decades but still want a comfortable place to live that allows you to save for retirement, why not visit a  Mobile homes dealership and buy a suitable small home outright? They even source some land.

Focus on Today

In order to secure your financial future, you need to get some control of your finances today, so if you’re the type of person who spends first and saves later, it’s time to change your mindset. If you feel like you don’t earn enough, chances are you just need to reorganize things a little bit. 

Taking control of your finances is the first and most important step on the road to financial freedom; this will help you to shift into a saving and accumulation mindset that will serve you well for decades to come. It’s also a good idea to set some time aside monthly for reflections.   

Financial Freedom

Financial freedom can mean different things to different people, but whether you earn your money through passive income or you accumulate wealth, so you don’t have to worry about financial shocks and emergencies, the core ingredients are comfort, happiness, and security. 

The road to financial freedom starts today, and you don’t need a lot of money either; all you need is a change in your mindset, and off you go. Decide that financial freedom is what you want and start making goals that help you get there; the best place to start is with an audit.

Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence. 

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