9 Financial Goals You Should Set in Your 30s

Your 30s are a time to get serious about money -- you can't use the excuse that you're too young and carefree to buckle down. Here are a few specific goals you should aim to check off your list.

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We all need money in savings for a rainy day. As a general rule, it's smart to have an emergency fund with three to six months' worth of living expenses. That cushion could spare you a world of debt or help you get through a period of unemployment.

ALSO READ: 3 Ways to Effortlessly Boost Your Emergency Fund

Mortgage and auto debt are considered the healthy kinds to have. But if you're carrying a credit card balance or have a nagging personal loan you need to shed, aim to have it paid off in your 30s so it doesn't continue to hold you back.

Owning a home gives you a chance to build equity in a place of your own, and it can lead to more financial stability. If homeownership is on your radar, aim to save up enough money so you're able to buy a place during your 30s. That way, you'll be in a good position to have your home paid off in time for retirement.

You might think your 30s are too soon to get life insurance, but if there are people who depend on you financially, it's crucial. Plus, being in your 30s could work to your advantage by helping you score a discount on your premiums.

ALSO READ: Best Life Insurance Companies for 2021

You're never really too young to create a will, and having one could bring you a world of peace of mind. You can hire an attorney to draft your will, or use an online software program that charges a more modest fee.

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Though retirement may be many decades away, the sooner you start saving for it, the more wealth you stand to carry into your senior years. By the time you're in your 30s, you should, ideally, have the equivalent of your annual income socked away in an IRA or 401(k) plan.

Investing money is a great way to grow wealth. Aim to open a brokerage account and start investing by your 30s so you're able to take advantage of compounded returns in that account over time.

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By the time you reach your 30s, you'll hopefully be earning a more stable income. And you can make the most of it by sticking to a budget -- ideally, one that allows you to enjoy your career-related success but also stay on track for other goals.

The higher your credit score, the easier it'll be to get a mortgage or any other type of loan. You should try to get your credit score into the 700s by your 30s, and you can do so by paying your bills on time, eliminating existing credit card debt, and making sure your credit reports don't contain errors.

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Establishing financial objectives is a smart thing to do at any age. Aim to tackle these key items during your 30s, and you'll set the stage for many more decades of success.

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