Are you approaching your thirties? Get ready – it’s going to be a life-changing decade in your life and you need to be prepared for it. 

This is the best time for you to plan for your financial future. Nowadays, many millennials are driven to get their careers and finances in order.

So, if you’re one of the many individuals looking for guidance to deal with your finances, here are five tips to help you become financially stable: 

1. Focus on Your Career

Whether you love the job that you’re in now or you’re only tolerating it for the salary, this is the best time to think about advancing your career. 

You have likely gained your education and skills in your 20s, and now is the time to use them to take your career to the next level. When you advance in your career, your pay is only going to increase which can provide financial stability and peace of mind. In turn, you will be able to develop a better financial plan for your future. 

2. Save, Save, Save!

Now is the best time for you to put away significant amounts of money for your future. If you focus on saving seriously now, you will benefit in the long-run. 

This is crucial even if you don’t have plans to build a family yet. When you are in your thirties, you’ve likely reached a comfortable income level. Putting away as much as possible will give you a solid financial base for your future. 

3. Invest Your Money

Use this time to think long-term and invest. Perhaps you want to buy a holiday house, or build up your shares. Before you hit your 30s, start working on this and invest in the things that will make a difference in your future. 

If buying a property appeals to you, then start your move today. However, make sure you’re realistic about the kind of property you can afford. Research properly, and if you can, seek the help of a financial adviser to help you navigate the real estate industry and your investment decisions. 

4. Maintain a Strict Budget

You’re almost in your thirties; gone are the days when you spend a lot of money on mindless things, such as your nights out or spontaneous holidays. 

Although you can still do these things, this time around, do it consciously instead of impulsively. 

Set specific financial goals and create a budget that will let you live within your means and be comfortable in the future. Make sure you’re realistic and consistent!

5. Get Insurance

If you don’t have life insurance yet, now is the time to consider it. 

Many people in their 30s think they are too young and still healthy so they don’t need life insurance. 

However, the price of personal insurance tends to soar at around the age of 35 meaning now is the time to consider purchasing life insurance cover. 

There are 4 types of life insurance cover you can consider:

1. Life cover — pays a lump sum when you die
2. Total and permanent disability (TPD) insurance — pays a lump sum to help with rehabilitation and living costs
3. Trauma insurance — covers you if you’re diagnosed with a major illness
4. Income protection insurance — pays some of your income if you can’t work due to illness or injury

Personal life insurance is a critical element of a healthy financial portfolio. 

Life insurance can help you prepare for the unexpected and secure you and your loved ones should something serious happen to you.

Are You Ready to Secure Your Financial Future?

Your thirties are the time for you to build and make your dreams come true, so when you reach your forties, you’re already settled and financially secure. Being financially stable may be challenging, but these tips will help you get your finances in order. 

Holmleigh Financial Planning has a team of finance and insurance consultants and experienced advisers ready to help you plan your finances as you approach your thirties. 

We offer complimentary initial meetings with new clients – request your meeting today!