8 Financially savvy things to do in your 30s

The great thing about being in your thirties is that you still have time on your side, so even small moves can make a huge difference to your financial position long term.  However odds are your financial situation is a mixed bag. On the one hand, maybe you’ve settled into your career and built a little nest egg. At the same time, you might be juggling student loans, a mortgage, and childcare.

On the bright side you still have time on your side (albeit not as much as you had in your twenties). Here are eight moves you can make now that will pay big dividends down the road:

1)    Sweat the small stuff

Be aware of every dollar you spend.  That $5 coffee or $10-20 purchase may not seem much but they all add up.  It is staggering what even a small amount of $10 a week can add up to over a 30 year period.

2)    Ensure you are in KiwiSaver

KiwiSaver is a wonderful way to get ahead financially.  If you haven’t yet bought your first house it can help with you deposit or if you have then your funds will build to help you have a more financially comfortable retirement.

3)    Avoid consumer debt

I strongly believe in avoiding all consumer debt unless it’s an absolute necessity. It is far too easy to borrow money which will always hold you back financially.   Do you best to avoid borrowing any money unless it is for something that will improve your financial position.

4)    Fast track your mortgage

Pay off your mortgage faster than the standard 25 or 30 year term.  With interest rates being so low it’s a great time to make additional mortgage payments when you can.  It will enable you to be mortgage free earlier and also save potentially thousands in the total interest you pay.

5)    Have financial goals

The list of what these could include is endless.  It could be something as simple as paying $20 extra week off your debts, putting a spending plan in place, or starting an investment plan.  The key is to always have something that you are working towards achieving not matter how small it might seem.

6)    Make your finances a priority

Time has an uncanny way of disappearing on us.  We always think we will do something but often just never quite get it done.  Appreciate that your finances are important take the appropriate action to make them a priority.

7)    Educate yourself

You don’t need to become a financial guru however developing a basic understanding of key financial principals will be hugely helpful and ensure you make smart informed financial decisions. 

8)    Buddy up

Find some friends to talk finances with.  Share your challenges and successes.  Studies have found that when peers monitored one another’s savings progress, average balances doubled.


Lisa Dudson is a bestselling author and Registered Financial Advisor with over 15 years industry experience. Her latest book The New Zealand Property Guide is a great resource for investors.  Lisa offers financial advice through www.acumen.co.nz and co-owns the New Zealand's leading property investment agency www.ifindproperty.co.nz