Turning 30? Allow this post to give you some essential money saving tips

Saving is important in every age of our life. Whether you are at your 20s, 30s, 40s or 60s, we all think for a better future and a wealthy life. But, to start investing in your 30s is a bit difficult than your 20s. One has to battle work, income and home all together. Always remember “The best time to plant a tree was 20 years ago and the second best time is today”.

 

So, are you turning 30 of your life with no savings for your retirement? Then no need to worry anymore. Just follow few investment mantras to make your future financially secure.

 

• Start to save as early as possible. To lead a happy future one should start saving early

• 30 is the right age to start to start saving with a proper financial plan

• If  you are into a new and first job then start with only 5% and increase the percentage amount every year

• Don’t put all your money in one asset class. Always diversify your portfolio for better returns

• Before saving and investing always keep inflation in mind

• It is advisable to put only 10% saving in gold and rest all in SIP, Equity and Real estate

• If you are new to do financial planning then take advise from a good financial expert 

 

• To avoid any missed EMI amount, loan for children education or any other monthly cost, contingency fund is very important

• At least 6 months of savings in your account is essential

• In your 30s one really worries about his or her career and marriage along with their own retirement, inheritance period

• Always plan your future smartly and then invest

• Emergency fund should be kept aside for crisis situations not for lavishness 

• Remember, emergency never knocks your door. So, to fight with every situation one has keep some fund as savings

 

• Note down the key points linked to all your expenses and make a monthly budget

• Compare your expenses plus savings equally, and then invest 

• Making a pre-budget plan will always guide you to take right decisions before spending

• Calculate your income and figure out how much expense you have per month

• The amount which you save after calculation can be spend on savings

• Set aside some fix money for paying bills, debt,  EMIs every month

• Making monthly budget will definitely assist you to achieve financial goals

 

• Debt free life is very essential for a happy life

• Never take too many credit cards for use

• Pay credit card debt on time. Else you can end up with a bad credit score

• Don’t take loans for everything you want to buy for a lavish life

• Pay your entire loan EMIs at a young age only. After your 40s it would not be easy to clear all dues

• At least try to minimize your debt at the right age

• Keep track of your credit score constantly 

 

• 30 is the right age to invest for your life insurance plans other saving plans

• Take some good health insurance policy

• Health insurance plans will always help you during health emergencies

• Take proper term insurance plans which offers bonus plus other amenities

 

Last but not the least; never forget to take financial planners guidance before investing and planning for your future. Don’t wait for the emergency to come. Start investing smartly at the right age and right time.