Money Management Tips
Being around 30 years means you are in another phase in life. To be a career person, responsible parent and having the best family would be your next goals; well here are some tips to help you on that;
1. PAY YOUR DEBTS IN TIME
When you were in your 20s it would have been quite a task to pay all debts because you did not have a secure income now that you are in your 30s; you should focus on paying all the debts. That you had. All loans accumulate interest after a certain time and paying it in time you would just be saving yourself a lot.
2. GO THROUGH YOUR BUDGET.
Revisiting a budget has never been a bad idea to any one. Now that you are mature you have to prioritize some staff in favor of your budget. You have new responsibilities, children to look after thus clubbing would be an irrelevant way to spend money on compared to cooking for your family or spending time with your family, true isn’t it?
3. SPECIFY YOUR SAVINGS
When you were 20 years, having a saving for your emergency was your goal so that you can satisfy your short term desires such as buying the coolest car but as you grow older you realize there is more to that example you realize you have to save for your children’s education, you have to buy a house or even have a little more insurances, right? Hence clearly specifying your savings will help you manage your money to avoid future hiccups.
4. BEWARE OF YOUR INSURANCES.
When you are around 30 years or above, you realize that more people depend on you financially such as your children, right? You also have more assets such as cars house or even businesses to look after. Ensuring everything you love is insured would be the best thing to do just if anything unfortunate happens. You can have health insurances just in case a loved one falls sick , fire insurances if a house or a building is on fire and any other insurance according to your needs to make sure just in case of anything , there is someone who has your back.
5. THINK ABOUT YOUR RETIREMENT WISELY.
Your will get promotions over years and your salary will increase. Save at least 16 % of your salary. This will ensure you have a secure retirement. I am sure you don’t want to get frustrated after you retire so make sure you manage your savings wisely.
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