Your 20s pass away in a jiffy, leaving you on the doors of 30s with some unique personal goals that never existed in the life of a carefree 20-something. In my opinion, your 30s are the years when reality kicks in. You’re likely to be married, your career is taking a flight, and then strikes the realization that you are halfway to your retirement and have just 30 years left to make it big. While juggling so many things at once you might get confused while taking decisions; therefore, it is crucial to put in the effort earlier so you have it better in the coming years.
We here have some of the personal finance goals that you should achieve by your 30s to strengthen the foundation of your 40s and beyond.

Begin With Evaluating Your Financial Progress
While deciding the goals for your 30s, begin with acknowledging and analyzing your progress. It will not just give you the motivation to keep moving, but also help you to figure out the past’s mistakes you need to avoid in future. Your 30s are the years when you are old enough to recognize wise financial opportunities, but still young to recover from the ill consequences of your bad decisions.

Wipe Off All The Non-Mortgage Debt
Remember one thing; 30s are for making more money, and not for digging out the ghosts of past debts. In your 30s, plan to clear off all the non-mortgage debts you’ve been carrying so far, and be aggressive with your efforts. Slash off your extra expenditure through frugal living or earn extra money by starting a business, if you’re still unable to combat your debts of yesterday.

Bloat Your Emergency Fund
Aim at increasing your emergency fund as your income and expenses go up. According to financial consultants, the ideal amount a ‘30-something’ should maintain in his/her emergency fund is 3-6 months’ income. Throughout your 30s, make it a goal to maintain at least 6 months’ income in your emergency fund, as it takes around 6 months on an average to find a new job after you lose one.

Increase Your Retirement Savings
Your kids can rely on part-time work, scholarships, and loans; but, it’s you who would need money in the years after your retirement. Increase your retirement investment to at least 15% in your 30s. While there are many other ways to do that, contributing a small share from your paycheck would serve as a great way to save effortlessly.

Plan For your Family
The biggest responsibility that adds up in your 30s is of a family. I am sure you’re working real hard to build up a foundation that guarantees your family a sense of financial security, but what would happen when you won’t be around to provide for them? Would they be able to lead their life comfortably in your absence?
To ensure the peace and prosperity in your family, cover yourself under a life insurance policy and get your estate planning in order. Having yourself insured will take care of the ones who are financially dependent on you, whereas getting a will or trust in place would set how the stuff would get doled out when you won’t be around.

As I mentioned before, juggling with marriage, kids, career, and thought of retirement could be overwhelming and confusing; however, a streamlined approach to stroll through your 30s can save the time wasted in trial and error. The above-given objectives aren’t all that you need to focus in your 30s, but the given goals could certainly shape your financial planning for better.

Author Bio:
Ankit Gupta owns and manages ExportersIndia.com, One of the leading B2B marketplace in India. Owing to his passion for writing, Ankit keeps sharing his valuable insights on business & finance with the readers. Follow Ankit on his Google+, Twitter or LinkedIn to get more updates related to finance and business.

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