Money Goals to Set (And Meet) in Your 30s

Your 30s are a unique financial time: while you may still feel like a 20-something or a carefree university student, many adult milestones, such as having a family or purchasing a home, may be on the horizon. Additionally, if you aren’t already planning for your retirement, it is time to think seriously about your financial goals. While it’s not uncommon to make some money mistakes in your 30s, falling into common traps can be avoided. By taking responsibility for your finances and setting ambitious money goals for yourself, you can avoid those pitfalls and set yourself up for a healthy financial future into your 40s and beyond. Take a look at these goals you should consider setting right away! 

Pay Off Student Loans and Other Outstanding Debts 

If you're in your 30s and still carry debt from your university education, you may want to make paying those loans a priority.  Unfortunately, the longer you wait to pay off student debt, the more the interest will pile up. Make it a goal to pay off your student debt, as well as other outstanding debts such as credit card balances, as soon as you can. Once you do, you’ll free up a significant chunk of income each month that could go to other savings and expenditures. 

Build a Strong Credit Score That Could Help You in the Future 

Your credit score is more important than you may think – it could affect rental agreements, job offers, your future ability to take out home loans, and more. Building a strong credit score now could potentially help you in the future, so make sure you: 

• Make on-time payments for every bill 

• Use less than 30% of your available credit 

• Get disputed or incorrect items removed from your credit report 

Put Extra Cash Away for Retirement and Other Major Life Goals 

Although it might feel too soon, now is an ideal time to put any extra cash away for your retirement and major life goals. The sooner you start saving, the more time you’ll have to take advantage of compound interest! Challenge yourself to start saving for significant goals such as: 

• Your retirement 

• A home or car purchase 

• Your children’s educations 

• A bucket-list trip  

You might think your 30s are too early to start saving for the future, but now is the perfect time to pay down old debts, boost retirement funds, and start thinking about financial milestones. The more you challenge yourself to meet these vital money goals in your 30s, the more financial responsibility you'll pick up, and the better you'll be able to manage your money during your 30s and beyond.