Young people pack a lot of life into their twenties.They graduate and start to enjoy the financial independence that comes with having a job.

But as you head into your thirties, it’s time to be more serious about money and lay down some lifelong financial habits.


1. Start saving into a pension.

This is tip number one. Those aged 30 today may have to fund 30 plus years of retirement, but it’s startling how many 20 somethings ignore their pensions.

The more you put in, the more they do. Don’t say no to free money.

Aim to save half your age. If you’re 30, that’s 15%.

2. Build a rainy-day fund.

Having savings lets you ride out life’s set-backs. Even fifty pounds a month will add up with the snow-balling effect of compound interest.

3. Start investing.

Once your emergency cash fund is sorted, start investing in capital markets.Start early to benefit from compounding and keep any interest or gains invested.

Shelter your investments in a tax-free ISA, with the benefit of easy access should you need it.

Consider a Self-Invested Personal Pension too and receive tax relief on your contributions.

Your money is locked up until retirement, but a pound invested in your thirties is far more valuable than one in your forties or fifties.

4. Take some risk.

Investors in their thirties tend to be cautious, but with a long investment time horizon, your investments can weather some ups and downs.

It’s important to feel comfortable, but over time, taking a higher risk tends to generate higher returns.

5. Pay down expensive debt.


For many, student debt is an unfortunate fact of life, but you can tackle credit card or payday loan debts by using the snowball debt method.

6. Spend wisely.

Being in your twenties often means wasting money, but in your thirties you need to be less frivolous.

Treat yourself occasionally, but cut out unnecessary expenditure, and stay in control.

7. Save as much as you can afford.

Anything left after pension contributions, debt pay down, mortgage and general living costs, save it!
Your future self will look back at you with gratitude.

8. Buy a house.

Mortgage payments are often lower than rent.

If you are fortunate enough to have the deposit, it might be the right time to buy.

Interest rates have recently crept up after a long period of record lows, so make sure you can afford higher payments if that continues.

9. Look after your loved ones.

If you’re accumulating investments, it’s sensible to make a will and make sure your hard-earned goes to the right people, should the worst happen.

Writing a will can also ensure you don’t pay more inheritance tax than you need to. Much more financial education here >

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