4 Smart Money Moves You Should Make in Your 30s

If you start early, you can build a great financial future where you'll never have to worry about funds. Here are some money moves you should make in your 30s.

When you reach your 30s, there’s likely a lot going on in your life. For example, you may be getting married, having kids, and buying a house.

There’s no question that this decade is full of financial and emotional milestones.

While this is true, it’s also an important time to make smart money moves to set you up for a financially secure future. Some tips to help with this can be found here.

1. Establish a Foundation

If you work with a personal financial advisor, there’s a good chance they will tell you to start with the basics.

This includes paying off high-interest debt and establishing an emergency fund.

Using the 50/30/20 rule is also a good way to establish your budget and ensure you stay on track for the upcoming decade.

2. Establish Credit

Having an established credit history will help you immensely when applying for a car or home loan.

A smart way to start building credit is by using a credit card and making payments on time. How often and how much you pay will be recorded and show that you repay your debt, helping give you a good credit rating.

When applying for a financial product, such as a mortgage, a lender will pull your credit report to see how much of a “risk” you are.

The credit report will also be used for calculating your credit score. The higher the number is, the better. When you have good credit, it shows potential lenders that you are a safe investment, and it will help you achieve much lower interest rates.

3. Start Saving for Retirement

While you may not be thinking much about retirement in your 30s, it’s closer now than it was while you were in your 20s.

You shouldn’t wait any longer to begin planning.

If you have not done this yet, it is a good time to sign up for the 401(k)-plan offered by your employer. If you are self-employed, establish the best IRA for your needs and situation.

While you may be tempted to skimp on this if you don’t have much of a budget, chances are you will regret this decision down the road.

4. Consider Investing

Investing your money will help you achieve the financial goals you have set. While investing does pose some risk, the earning potential is much higher than just a traditional savings account.

Making Smart Money Moves in Your 30s

Your 30s are an amazing decade. For most people, it is when things really start to “happen.”

If you are ready to make the most of this decade and secure your financial future, be sure to make the smart money moves described above.

To find more helpful information, resources, and guides, be sure to read some of the other blogs on our site. We post often to help you stay informed.