In your 20’s, your key financial challenges were to learn to live within your means and not get yourself into debt by spending what you do not have – basically learning to manage your money.  When you hit the “dirty thirties”, these challenges change slightly; you have tackled the scary hurdles of how to budget and save, but now is the time to start setting down financial foundations such as buying a home, saving for retirement and investing for your family’s future.

We know this can be scary and it is not always easy to juggle all of the responsibilities, which is why we have put together a list of key financial tips to follow in your 30’s.

1. Advance your career

While in your 20’s you developed a foundation of skills from work etiquette to specific skills in your field. Now that you are in your 30’s it is time to apply these skills and settle into a job that you can turn into a career. Don’t forget that the longer you stay in a job, the more annual raises and other growth opportunities you will receive.

2. Reevaluate your budget

Since entering and leaving your 20’s, your expenses, income and your financial goals, have changed. This is why you need to rethink and redevelop your budget so that it reflects your new lifestyle.

3. Modify your insurance policies

Over the past ten years, you may have accumulated new assets such as a car or a home; assets which need to be insured. You may have also gotten married and started a family and now need to take out life insurance policies to protect your loved ones in case of a tragedy. Even if there haven’t been any significant changes, it is always a good idea to reexamine what policies you have in place. Don’t forget that MoneyShop can help get you a range of car insurance, home insurance and life insurance quotes.

4. Start saving for retirement

We have spoken about this before, but saving for retirement is an essential investment for everyone. It is advised that you should put away a minimum of 15% of your salary each month into a retirement fund.

5. Write your will

This is another topic we have already touched on but one that is of great importance. Unfortunately nobody is immortal and when your time comes you need to make sure that you have specified exactly what you want to happen to your assets.

6. Save, save, save

Our final tip is one that we cannot speak about enough. You need to save for the expected and the unexpected, which is why we recommend putting a portion of your salary away each month into an investment of your choice.

We know that getting older is a scary thought, with so many new responsibilities on our plates, it is hard to know what to tackle first. Our recommendation to you is not to put your financial obligations on the back burner; you don’t want to turn around when you get to your 50’s and think “what if?”