4 Ways to Save Money In Your 30s

In your 20s, you probably didn’t worry as much about saving for health costs or retirement. As you get into your 30s, the realities of adulthood start to set in and you realize that you need to start saving for your future. Fortunately, it is never too late to start saving. In fact, even if you start saving in your late 30s, you still have decades to accumulate a nest egg for retirement. So, in today’s guide, we’re going to look at 4 smart ways to save money in your 30s!

Invest in Long-Term Assets


When you’re young, it is easy to stay focused on short-term goals. For example, you may want to get a promotion at work or go on a trip with your significant other. While these are great goals to set, you should also be setting financial goals that you won’t be able to meet for years. One of the best ways to secure your financial future is to invest in long-term assets like real estate. Buying a home not only gives you the security of a place to live, but it also provides you with equity that you can use later in life. If you’re currently in the process of acquiring a new home, be sure to reach out to the experts at Black Tie Moving to save money on moving costs.

Prioritize Paying Down Credit Card Debt


Credit cards tend to have some of the highest interest rates of any other form of credit. As a result, it is very easy to let credit card debt get out of control. Even if you don’t have that much debt, you should focus on paying it down as soon as possible. Why? Because the amount you pay in interest on credit card debt is far more than you could make by putting that money into a high-yield savings account. So, pay off the debt first, then focus more of your attention on savings.

Put a Portion of Every Paycheck Toward Savings and Retirement


While debt should be your top priority, this doesn’t mean you shouldn’t be saving at all. In fact, you should start saving right away. Just putting a few dollars every week into a savings account is a great start. Once you have debts and other high-cost expenses under control, you can begin to shift more of your budget toward long-term saving. Additionally, it’s important to create savings for emergencies and savings for retirement. You can prioritize one over the other or make equal contributions to both accounts; it all depends on your personal needs and goals. 

Set a Budget That Works For You


You can’t save money if every penny you make goes toward other bills. For this reason, it is vital to make a budget that actually works for you. Always remember to factor in taxes, retirement savings, and emergency fund contributions when creating a plan. This way, you’ll have all your bases covered and you can head into the future with a much brighter financial outlook.


Looking for even more great articles like this one? If so, be sure to check out some of our other posts on Blonde and Balanced today!

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