When you’re in your thirties, your financial circumstances often change drastically from the way they looked in your twenties. It’s time to go beyond the basics of creating a basic budget and saving money. Are you ready to take the steps needed to be in a better financial situation, both now and in the future? Try some of these important strategies. 

In your twenties, it’s acceptable to just save money as you can. When you hit your thirties, however, it’s time to take a harder look at your savings account. Do you really have the emergency funds you need? Ideally, you want to have at least six months of expenses in emergency savings. If you have a spouse and kids, this may be a substantial amount of money–so make this your first goal. 

It’s time to start thinking about your financial future–and that goes well beyond building a solid savings account. You don’t just want to have money to fall back on in event of a rainy day. You want your money to start working for you! Even if you don’t have a solid savings to start with, that’s okay. Start investing with some of these simple strategies:

• Decide how much risk you’re comfortable with. While there are risks in every type of investment strategy, some carry higher risks than others. 
• Do your research. Learn about different investment strategies. Do you want to invest in stocks? Real estate? Bonds? Decide what investment strategy will work best for you. 
• Diversify. The best investment portfolios go beyond a single investment strategy to incorporate multiple investments and types of investments. 

Remember, it’s not just about the initial investments. You want to create an investment strategy that will allow your money to continue growing. Contribute a little to your investment accounts each month to watch those investments really start to grow. 

Most people naturally spend as much money as they make unless they make a conscious effort to do otherwise. If you make $1000 a month, you will keep your bills–to the best of your ability–within $1000 a month. If you make $10,000 a month, chances are, you’ve scaled your spending to match. 

Over the past decade, you’ve changed jobs, gotten raises, and overall increased your income–and you may well have changed your spending to match it. Now, it’s time to take a hard look at your spending. Where are you wasting money that twenty-year-old you would never have dreamed of spending? What bad spending habits have you picked up? Evaluate those spending habits and review your financial goals, then determine how you need to change your spending habits to meet those overall financial goals. 

Do you have adequate insurance? As you enter your thirties, it’s time to start considering the level of insurance you really need to protect yourself and your family in the event of an emergency. Do you carry life insurance? Have adequate health insurance? Carefully evaluate the insurance that will protect your family. Remember, your thirties are a great time to look at health insurance: you’re probably in better health than you will be for the rest of your life. 

Even if you spent responsibly in your twenties, you may enter your thirties under the weight of debt. You may have student loans still sapping your paycheck each month and credit card bills that make you cringe every time you open them. Now, it’s time to focus hard on paying down that debt. Making more than the minimum payments each month and avoiding future debt can help put you in a better financial position in the future–not to mention giving you more money in the long run to spend on things that are really important. 

If you’re ready to get more responsible with your money now that you’re in your thirties, we can help. Contact us today to learn more about how we can help improve your financial position. 

Federally insured by NCUA. Membership and credit eligibility required.