6 Financial Tips for Your 30s

If you’re struggling to make ends meet in your 30s, you’re certainly not alone. As wages stagnate and the cost of living increases, many people break themselves at the end of each month. If you’re struggling with tight finances, it’s time to take charge of your finances and learn helpful tips on stopping living paycheck to paycheck.

How can one manage to break out of the paycheck-to-paycheck lifestyle? Is it possible for your situation to improve greatly in your 30s?

financial advice for quitting living from hand to mouth

1. You need to create a realistic budget and stick to it.

Don’t bother reading further if you haven’t created a budget and given yourself an allowance. If you have your finances laid out on paper, then you can easily tell if each expense is necessary or not. You’ll be able to see if your expenses are within your means or if you’re spending beyond what you should be.

2. Stop using plastic

A credit card is the last thing you need when trying to improve your finances. Using a credit card allows you to rack up interest and fees at all hours of the day without regard to your financial situation. Credit cards can ruin your financial situation as fast as they can help it. If you’re struggling with this, then I highly recommend getting rid of any credit cards that aren’t necessary. There’s no need to get in the way of saving money and debt-free living.

3. Stop spending money on things you don’t need.

Learn how to say no to yourself. If you’ve just made a budget, it should be easy to tell where you’re spending too much each month. Start cutting out all the unnecessary expenses that are wasting your income. Paying $10 for a cup of coffee or order delivery when you can make something at home will only hurt your finances in the long run.

4. Create a gap in the opportunities now.

If you want to break the paycheck-to-paycheck lifestyle, it’s time to get some side income.

Start a blog, sell unwanted items on Craigslist, or babysit neighbors. If you’re working full-time, look for ways to earn extra cash. The best way to quit living from paycheck to paycheck is by building a reliable source of income.

5. Set up an emergency fund.

The last thing you need when looking to create a gap between your paycheck and expenses is an emergency fund. An emergency fund gives you the freedom to take care of any unexpected expenses that come up in your life. If you get hurt, your car breaks down, or you lose your job, it’s time to dip into your emergency fund. If you don’t have one, it’s a great place to start when looking for ways to improve your finances.

6. Consider using a money market account.

If you have bad credit or are worried about investing in your 30s, it may be best to keep your emergency fund in a money market account instead. Money market accounts offer better interest rates than traditional savings accounts and won’t allow you to remove your cash unless you go through a complicated process. Without access to your money, it’s much harder to spend what you don’t have. You can also consider using a savings account with better interest rates if you’re willing to keep money in an online bank.

Taking everything into account

If you’ve made it through this entire article, you’re well on creating a gap between your paycheck and expenses. You’re also more likely to avoid living paycheck to paycheck if you’re in your 30s. The financial tips listed above are some of the best ways to keep your finances out of the red in your 30s.

Use the tips above to start saving money regularly, and consider trading in your credit cards for a cheaper option. You can also figure out how to get paid more by working a side hustle or by investing. The more financially secure you are in your 30s, the easier it will be to retire as you get older.

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