Take these First Financial Steps Now in your 30’s

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IF YOU ARE:

• Single Person–
  • Ask a trusted friend/family member to review your finances with you every 6 months just to keep you accountable and on track for your goals. 
  • Plan for the long-term; bump up your retirement savings RIGHT NOW.

• A Family with Young Kids
  • Stay at Home Mom– Don’t undervalue the contribution you provide to your home.  Your role is vital to providing balance in your home.  It is crucial that you have a pulse on your family’s finances in case you unexpectedly become the sole provider.  You are also probably the biggest spender in your home; don’t take that the wrong way.  You are in charge of your family’s groceries, activities, clothing, etc.  So…it is up to you to make good choices with the money that comes into your home.  Enjoy the challenge of spending wisely- super couponing, shopping resales/garage sales/consignment stores and more.  Take time to review your family’s finances and be knowledgeable about your family’s savings goals.  Join your spouse in discussing long-term planning.  Don’t leave it up to the working parent; your input and advice should be welcome and valued.
  • The Breadwinner– Communicate with your spouse so that you are partners in money decisions.  As much as you think you know it all or are ‘in control’, having another set of eyes with a vested interest in your mutual future is an often overlooked part of being in a partnership.
  • Single Parent– Believe in yourself.  Believe in your ability to manage your household.  Save a little extra money starting RIGHT NOW.  If you need more money in an emergency fund add $10 per week starting now.  If that doesn’t stretch you keep adding until just before you feel the pinch.  That’s the sweet spot when you are getting started.  If you have a good savings account bump up your retirement savings RIGHT NOW.
• These are some significant first financial action steps for thirty-somethings; just do the one thing that applies to your situation! More details on bumping up retirement savings to come!