Life-Changing Money Lessons You Learn In Your 30s

By Ashley Eneriz
GOBankingRates.com.

By the time you reach your 30s, you will have wised up to many of the foolish money habits of your 20s. It might be just as tempting to give in to careless spending, impulsive buying and paycheck-to-paycheck living, but at least you know better now. After all, you are about halfway to retirement, and the following guidelines will help you get there comfortably.

YOU REALLY DO NEED AN EMERGENCY FUND
Sometimes it seems that that older you become, the more expensive your problems are. Creating an emergency fund with $1,000 is a great start, but now that you are in your 30s, you shouldn’t stop there. Plan on the worst-case scenarios, like a job loss or unexpected medical expenses, and put more money into your emergency fund.

YOU SHOULD KEEP APPLYING FOR JOBS
You should be interviewing two to three times a year, even if you love your current position, according to financial news website Business Insider. This allows you to stay on top of what is available in your field and helps you gauge how much you are worth. If you end up being offered a higher-paying position, you can always take that offer to your current employer to see if they will match the salary.

IT’S OK TO TAKE A CAREER RISK
Once you get into your 40s and 50s, changing your career or going back to school comes with a lot more risks. Your 30s is the prime age to take those career risks that can help you achieve your professional goals or boost your resume.

THE BIGGER SALARY WILL COME
You spent your 20s going to school and developing skills in your career field. Your 30s is the time when you should expect to make more money. Both men and women experience a 60 percent wage growth at the age of 30, according to Payscale.com. However, if you don’t revamp your budget to match your new salary, you will likely spend it frivolously. Increase the amount of money you save, and invest when your salary increases.

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