Funding Strategy — May 6, 2018 at 12:04 pm

What Should a 30 Year Old Know About Finances?

by

When you were in your 20s looking at your finances most likely did not bring any joy. That is because not only would you be earning little in your first job. But you would also be repaying your student loans and other debts. Furthermore, you would also try to have a social life while paying your rent and utilities. Therefore it is understandable why one would not have any extra cash in their 20s. But for many, all this changes when they enter their 30s. That is because by this time not only have they worked for a couple of years. But they also begin to earn good money. However, that does not mean that they always know how to manage their money. In your 20s you would be living hand to mouth. Therefore you would not pay any attention to financial management. But when you enter your 30s it is high time for you to educate yourself.

Create a Budget

As mentioned earlier in your 20s all you would have wanted to do was save money. That is because after paying the bills and debts many do not have anything left. Therefore due to this reason many individuals adhere to a strict budget. But that would not be the case when you enter your 30s. As mentioned earlier you would be earning good money. But that does not mean you should go on a shopping spree. But it does mean that you can re-evaluate your earlier budget. For instance, now you don’t have to keep all your extra money in the bank. Instead, you can allocate some money for a hotel investment property. That is because investing in real estate is one of the best steps that you can take at this stage.

Assess Your Insurance

When you were in your 20s you may have obtained health insurance. That is because this is something that every individual should have. Therefore due to this reason, you would think that it is not necessary to re-evaluate your insurance. But that is not true. That is because instead of investing in quail lodge & golf clubyou can get more insurance. That is because by this age you may have a family of your own. Therefore due to this reason, it is advisable for one to obtain life insurance.  Furthermore, if you purchased a house you need to obtain home insurance. Therefore it is at this stage that you need to reassess your insurance.

The aforementioned tips are things that every 30 years old should keep in their mind.

Please follow and like us:

Leave a Comment

Your email address will not be published. Required fields are marked *