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Money mistakes in your 30's

Updated: Aug 24, 2021

30's are an exciting time where you make several financial decisions that may make or break the foundation of your financial future.

A lady in her 30's pointing to the money in her hand.

During your 30's you might get married, have your first child, buy a home, advance in your career, etc. These are decisions that have huge financial implications and committing financial mistakes in your 30's can put you miles away from being financially independent.

Money is a tool. If you learn to use it wisely, you can live the life you want. The bad financial habits that you formed in your 20's can be hard to get rid of in your 30's. Add to that additional responsibility and you can easily feel the burden. Here are a few of those common money mistakes -

  • Not tracking your money - The most important money management step is knowing where exactly your money has gone. Unfortunately, many fail to track their expenses citing a number of excuses. Tracking expenses increases awareness of your spending habits and allows you to make better choices with your money.

  • Not having financial goals - Short and long-term financial plans are important to provide financial direction and establish a timeline to achieve financial independence. Without a financial goal in mind, you have nothing to aim for and simply wander around.

  • Not saving for retirement - Many never think about retirement in their 30's thinking there is still a long time to go. But they often forget that time is money. Harness the power of compound interest, where small amounts can grow larger over time and start saving for retirement early.

  • Buying a house you can't afford - An expensive home brings with it many other expenses such as homeowners insurance, utilities, furniture, and other equipment. If you cannot afford the rent/mortgage, you are only drowning yourself in debt.

Water being sprayed at coins to signify investing.
  • Piling credit card debts - Using plastic to pay for things that your income cannot cover will rack up credit card debts that can take years to pay off. Separate your wants from your needs and avoid using credit cards or use them wisely.

  • Not investing enough - The secret to being financially independent involves investing as well. Not investing enough or not investing at all will never help you in truly building wealth. Diversify your portfolio and take risks when you still have time on your side.

  • Not having insurance - Protect your assets and your family with insurance during times of sickness, house-fires, natural disasters, or even unexpected deaths. With more responsibilities in your 30's, you need to account for these emergencies.

  • Not creating a college funding plan - Kids really do grow up fast, and soon enough they will be entering colleges. College is expensive and you do not want your children to rely on crippling student loan debt. Stats have shown that students take many years after their graduation to pay off their student loans.

Looking for financial independence? Grab a copy of our latest ebook, here.

The Ultimate Guide To Getting Your Finances Back On Track is a book that aims to help the user in being smarter about their finances. This guide contains seven sections - Financial Goals, Expenses, Savings, Income, Loans & Debts, Budgeting, and Investments. Each of these sections explains everything you need to know about Personal Finance in simple terms. By the end of this book, you will have learned the fundamental principles that will help you in maximizing your income, decreasing your expenses, and increasing your savings that will overall kickstart your process of truly building wealth.

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Sound advice, love it! It's very helpful to learn about this early in life


Wayneish Brown
Wayneish Brown
Mar 15, 2021

These are really great tips! Oftentimes people don't realize the importance of proper money management. Thanks for sharing!


I'm only approaching my 30s - I'm 26 - but it's always nice to learn more about money management no matter what age you are. So thank you for the useful content 😊


Siim Pukk
Siim Pukk
Feb 25, 2021

Simple but often forgotten things on the most important topic of adulthood.


Wioletta Lech
Wioletta Lech
Feb 04, 2021

Great points! I think the biggest money mistake that all people do is buying things they don't need for the money they don't have to impress people they don't like :)

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