Are You Winning or Losing the Financial Game in Your 30s

Are You Winning or Losing the Financial Game in Your 30s

February 26, 2024

Today I would like to discuss 5 potential financial mistakes you may be making while in your 30s. Let’s get into it!

Rushing to buy a home

As you approach your 30s you may be feeling like you shouldn’t be renting, living with roommates, or even still living at home with your parents. While having the goal of purchasing a home is great, take into consideration the different aspects of your life, school, job, debts, traveling, relocating, etc. Depending on the stage of life you are at renting may be a better option. 

Not prioritizing insurance

No matter your age we believe it is important to consider insurance for the different aspects of your life. These include healthcare, life insurance, auto insurance, renters, and homeowners insurance. The cost of having insurance may be more cost-effective than paying out of pocket should an accident arise. 

Not asking for a raise

We believe knowing how to negotiate your salary is important for your financial success. While it may seem like a hard conversation to have, dont let that stop you from asking for what you believe you deserve. 

Not having an emergency fund

Unexpected bills can be costly, and you may not always have the funds to cover these bills. Consider putting away a set amount of money each month towards an emergency fund. This may help you cover these bills. 

Saving for your kid's education before your retirement

As a parent, you always want the best for your children, but you need to consider prioritizing your retirement first. There are many options to help pay for your child’s college education, scholarships, grants, junior college, loans, etc. The only way to pay for retirement is to start saving. Don’t hold off on making contributions. Consider starting now so your retirement accounts have the necessary time to grow.  

At every stage of life, there will be new lessons to learn and grow from. Take some time to reflect on your goals and the steps you can take to work towards reaching them. 

Advisory services are offered through Meyers Financial Services, Inc., an Investment Advisor in the State of California.

Looking at taking action forwards your financial freedom? Book a complimentary no-obligation call today!

Ariel Andrews, Investment Advisor Representative and Certified Financial Coach at Meyers Financial Services, is committed to guiding clients on their financial journey. With expertise in financial coaching and investment advisory, Ariel strives to help individuals achieve their financial goals and make informed decisions for a secure future.