The ’30s is a crucial period in anyone’s life. Most of us juggle several things at the same time. One of the prime things that include here is finance or managing the money. There are various money matters one could juggle for. These matters include saving for a wedding, slogging for promotion, etc. Most of us already take few steps to move towards the additional responsibilities. 

These things require financial stability to get fulfilled. Hence one needs to be disciplined with the investment as well as savings for the long term. There are few common money mistakes that most people make during their 30’s. Here is the list of the mistakes.  

Delayed Investments

You might have heard of various billionaire investors who made a huge chunk of money. These billionaires include Peter Lynch, Warren Buffet, etc. Warren Buffet started the investment at the age of 11, and then he continued to do so. 

Most of the youngsters do not understand the importance of early investment and end up getting into the debt trap. It is essential to start early and regularly to build the empire. One can consider various investment options such as stocks, mutual funds, bonds, etc.

No Financial Goals

Setting no financial goals at this age can take you nowhere. Setting up the SMART goals can assist in accomplishing financial determination in life. But most people do not recognise its significance and hence lose track of their profits. 

Setting goals helps to set the timeline to achieve the greatest things in life. These goals can be to buy a house, starting a business, etc. They give you a direction to be more responsible towards money management and your spending behavior. 

Not paying high-interest loans on time

We usually take high-interest loans only in an extreme emergency situation. For example – the payday loans weekend funding is a reliable source and a last-minute savoir. It is perfect for a medical emergency. However, at the same time, it is a high-interest loan. If you keep delaying the payments of such a loan, it can only create a bigger mess. 

Never take high-interest loans for granted. In fact, try to pay them off faster. Whether it is a payday loan, car loan, personal loan, or any other one, you need to work on them regularly. The ’30s is the most fragile time when people get into the trouble of multiple debts. By the way, we cannot avoid credit card debt also because they also have high interest.

No Retirement savings

As a youngster, we all have the energy and time to work and make money. But at retirement, there will always be a question to earn a living. Hence it is necessary to think retirement savings. But most of the youngsters fail to understand this concept and find it to be boring. 

Delaying retirement savings can negatively impact the ability to save for the golden years. A consistent investment of 30 years can undoubtedly accumulate into a huge corpus. It is essential to have a big nest egg to live in peace when you get old. 

No tracking of spending

Most of us have a habit of getting into shopping and other leisure activities after getting a paycheck. Most of the time, we never keep track of how much amount has been spent. This is the most common habit of youngsters, and it can destroy wealth in the long run. One can quickly accumulate more savings by spending less on unnecessary things. 

This amount can be used to start saving a considerable amount. One can use various mobile applications for this purpose. These apps do not cost anything and help you to maintain the financiers effectually. Generally, these apps ask you to link the bank account to track each penny that you spend. This way, one can easily track the money where it is spent.

Not getting the Insurance

One can never predict the sickness or uncertainty of life. Consequently, it is essential to be prepared for such situations. This needs to be done for you as well as for loved ones. Buying Health insurance as well as a term insurance policy helps to secure the future. 

Buying life insurance gives financial security to your loved ones. These term insurance plans come with minimal investments and provide a huge lumpsum about post the death of the insurer. Most of the youngsters find the concept of life insurance boring and unnecessary.

Considering the conservative approach for investment

The ’30s is the right time to put the money to work to enjoy its benefits later in life. Most of the youngsters do not understand the concept of savings properly. Hence, they end up investing in any random scheme or option without thinking of the benefits. 

According to the finance experts at this age, one should invest around 60% of the savings to the equity while 40% of the amount into the income investment. This type of portfolio offers a good number of returns over a certain period, such as 5 to 10 years. One can always consult the financial expert if not sure about where and how to invest. 


Avoiding the pitfalls, as mentioned earlier, can get started with the right mindset and save a good amount of money. Starting money management at the early stage is undoubtedly the best decision that one can take. To live with peace in your 40s and 50s and so on, you need to keep your financial life organised. It is not a herculean task with some sincere efforts in daily life. 

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