1/15/2024 0 Comments Smart money moves in your 30sThe most important point I want to stress is that you absolutely must have your entire family behind you in this endeavor. I’ve detailed how to achieve this in previous posts. Getting out of debt is simple – but very hard work. Regardless, I want you to look at any debt outside of your mortgage as public enemy #1. Typically your responsibilities and lifestyle expand much faster than your income during this period of your life. It’s easy for people in their 30s to accumulate debt. I’ll do my best to answer your directly or share my response in a post. Need help or have a question about getting on the right path? Ask me a question. It’s probably much cheaper than you think.īottom line? If you have a spouse and/or children who depend on you, find out how much coverage you need and get it. And don’t worry if you are stretched financially. Ask yourself how the people you love would survive financially if you were hit by a bus. If other people rely on you financially you probably need life insurance. You might have responsibilities at this point in your life that makes it difficult to completely reinvent yourself. If not, create a “to do” list and get to work friend. Once you are clear about your vision ask yourself if your income and spending patterns are in line with those goals. Then, reverse-engineer to determine what you have to do in order to get there. Think about the life you want 10 years from now. In my previous post, I encouraged readers in their 20s to spend time clarifying their life goals. Why does this happen? Because they aren’t 100% clear on what they want their lives to look like. Many people in their 30s flounder because they have a career they don’t love and/or they self-sabotage with the wrong financial behaviors. And once you start implementing these ideas, your feeling of confusion and shame will be a thing of the past. By the time you get done reading this post, you’ll know more about money than 98% of the people in your age group. Yes, some of your peers might have a better handle on their money but that’s no reason to beat yourself up. If you are in your 30s and don’t have a firm grasp of your financial situation, please don’t feel bad.
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