4 Financial Goals for People in Their 30s


Financially, your thirties are the ideal time to start building wealth. In people’s 20s, they typically spend that decade growing a professional career and identifying financial best practices. Many people in their 20s are occupied with paying off student loans and saving up what money they can to travel or to eventually purchase a home. As you get older, you’ll learn financial best practices and have greater earning potential.

With age comes wisdom. While twenty-year-olds are worried about making ends meet, paying rent, and finding a job they love, thirty-year-olds are generally more established in these areas. Anyone approaching or well into their 30s should be dedicated to becoming financially stable. It’s never too early to set ambitious financial and professional goals, but your 30s are the primetime to do so.

Move up in your career

30-year-olds are well aware of their skillset and have several years worth of job experience under their belt. Now is the time for them to advance their careers by pushing forward in their professional life. Whether this advancement takes the form of a promotion in the office or a complete career shift, this period in one’s life should be dedicated to professional advancement.

Evaluate your budget

With more money comes more goals, as well as more responsibility. While it’s common for one’s budget to change from year to year, as people reach their thirties, they may need to radically reevaluate their spending. During one’s thirties, it’s time to consider altering their budget to accommodate getting married, starting a business, or having children. A new budget helps determine where and how your income will be divided over the next few years.

Rethink your insurance coverage

As you enter your thirties, you’ll realize that you have more assets to protect. If you’re married and have children, it’s even more important that you have adequate insurance to take care of your family. Now is the time for 30-year-olds to rethink their insurance coverage to make sure that they are properly protected. Depending on an individual’s family and home life, they may need to consider auto insurancehome or renter’s insurance, or life insurance.

Increase the emergency fund

Your thirties should bring financial security. Gone are the days of living paycheck to paycheck and skipping meals until payday. You should take advantage of any excess income by growing your emergency fund. An emergency fund with enough money for three to six month’s of expenses is the ideal goal and can help if you lose your job or have surprise medical bills.

Your thirties begin the start of a new financial journey. Follow these four tips to ensure financial stability and start building wealth.

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3 Tips for Paying Off Debt


For some people, debt is an inescapable part of their everyday life, but it doesn’t have to be that way. Tackling sky-high credit card bills and paying-off those never-ending student loans really is possible for the most money-savvy amongst us. It might seem like you’re bogged down with debt and you’ll never make a significant dent in it, but there are certainly ways out if you take it one step at a time. Read on for some of the best tips for paying off debt.

Understand that every dollar matters

Making the most of each dollar is the first step for anyone trying to get out of debt. While it’s tempting to subscribe to the attitude of “treat yourself” when it comes to splurging on luxury items and expensive products, in order to save as much as possible and get rid of debt, it’s essential to cut back in your spending. Start this process by putting together a detailed budget.

According to NerdWallet, it’s a good idea to use the 50/30/20 budget. This method focuses on spending 50% on essentials, 30% on wants, and 20% for paying off debts. For individuals that are truly committed to lowering their amount of debt, it is beneficial to tap into the “wants” percentage for extra funds.

Embrace the side hustle

The concept is simple: make more money, pay off more debt. Embracing the side hustle lifestyle allows you to have multiple streams of income, in addition to your regular paycheck. Though these side hustles will add several hours to your weekly schedule, the extra income can have a major impact on the amount of debt you’re paying off if you’re using that money wisely.

The best side hustles to consider are part-time or one-time opportunities that tap into an your particular skill set or resources. For example, homeowners looking for extra income can turn to Airbnb, just as writers with a knack for creating quality content opt for freelance blog writing.

Take a hard look at your values

Many people want to save more, but can’t get over the hurdle of cutting back on their monthly expenses. For most people, putting limits on spending means downsizing and no longer spending as freely. Individuals that would rather “keep-up appearances” find themselves at odds with the mindset required to follow a strict budget. However, budgeting is an important part of spending less and saving more.

In order to change one’s spending habits, you need to align your money mindset with your values. Someone that truly values being debt free will be able to overcome looking less than luxury as they try to save more.

Getting over debt is possible. Put these three strategies into practice to start getting over debt today.

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4 Great Books on Finances that Every Financial Enthusiast Must Read


Managing finances is one of the most critical skills that all individuals should aim to possess, especially once they start working and earning a paycheck. Eventually, you’re going to have money that you need to decide how to spend. If you’ve never received any kind of education on how to best manage money and ensure your expenses are covered, it’s important to learn as soon as possible to avoid colossal debt. Here are some of the best books on finances you can read and learn what to do with your hard-earned cash.

Rich Dad Poor Dad by Robert Kiyosaki

Probably one of the best-selling finance books in the industry, Rich Dad Poor Dad, compares two families: one that has less money and family that would be considered middle-class. The book highlights that individuals should not only learn how to plan their finances but should go further and instill financial knowledge in their children. This teaching helps guarantee that children have financial knowledge when they grow up and can avoid mistakes their parents may have made.

Liar’s Poker by Michael Lewis

This book is a critical finance book that offers insights to individuals who want to learn more about the bond market. A bond is a financial instrument that is used by the government to control inflation and interest rates in the country. Any person who is interested in matters concerning inflation and interest rates on loans should go ahead and buy this book. The book goes further to explain the causes of the market crash several years ago, which was facilitated by the housing market.

Freakonomics by Steven D. Levitt

This book is a finance book that addresses the common aspects that individuals experience on a daily basis concerning money management. The book does not focus on solving a particular market but helps educate an everyday person in making sound financial decisions with the aim of getting the best value while at the same time minimizing expenses. This book goes further to help homeowners and real-estate agents on how they can get the best deal possible when searching for property.

The Richest Man in Babylon by George S. Clason

This book is a personal finance book that offers insight to individuals on how to deal with different financial situations on a daily basis so that they can make accurate decisions. The personal finance book is handy for borrowers and creditors as well. According to this book, managing finances professionally is an essential factor as it helps individuals to retain their wealth and can prevent you from making costly mistakes.

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3 Reasons You Need to Educate Yourself About Personal Finance


Money is one of the most important things in life; the more money someone has, the more freedoms they effectively have since they are more able to make choices to live where and how they want. Some people are fortunate enough to inherit vast sums of money from family members or spouses, but most of us aren’t that lucky. Bill Gates, for example, has so much money that he doesn’t have to be financially literate; he is, of course, but everyone who lives paycheck-to-paycheck or close to it should be well-informed about personal finance.

There are several reasons why you and everybody else on the planet should know personal finance inside and out. Unfortunately, in the United States, barely more than 50 percent of adults are financial literate, says Standard and Poor’s Rating Services Survey “Financial Literacy Around the World.” The United States is both the wealthiest country in terms of gross domestic product and has the highest number of billionaires residing in the country, yet we’re far behind other countries when it comes to teaching and understanding financial literacy.

Even though so few Americans are financially literate, the basics of personal finance – everything someone would need to know to make responsible decisions – are not difficult to understand.

You’ll avoid frauds

If someone is financially literate, they are responsible in their decision-making as far as money and debt are concerned. People who are financially literate should be able to know differences between checking and savings accounts, how to calculate interest, and what inflation is. Thanks to this knowledge, if you’re financially literate, you’re much less likely to fall victim to some kind of financial fraud. You understand how to keep your personal information secure, avoid any investments that seem too good to be true, and are aware of various other facts that make it harder for you to fall victim to scams.

It provides comfort and a sense of security

Once someone is caught up on personal finance, they are less likely to feel anxiety related to money problems, have to borrow money, or waste money. All of your financial health improves as you educate yourself on personal finance.

Not only are people better off if they know about personal finance; they can talk about financial information and offer advice to their friends. The more common personal finance becomes in society, the more likely parents will be to pass the knowledge onto their kids and set them up for financial success.

Planning for retirement is a lot easier

Once someone learns about personal finance, they can then reasonably explore the world of financial investments and actually understand what’s going on. Investing is a personal finance topic many people lack understanding of, but if you work on building up your foundation of knowledge of personal finance, you’ll eventually see how much easier it is to plan for retirement once you have a greater understanding of investing and your options.

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5 Tips for Preventing Needless Spending


In today’s consumption-oriented world, it is easy to fall victim to the habits of unnecessary spending. While there’s nothing wrong with engaging in some fun shopping and purchasing items you might not need, if you’re trying to adhere to a budget or reduce your consumerism, it’s important to be mindful of your spending habits. If you’re in debt and need to cut out some costs or are just concerned with how much you’re buying, here are five tried and true tips designed to keep spending in check.

Keep everything organized

By keeping regular tabs on everything you own, you can avoid purchasing duplicate items. When you own so many material things, it is more difficult to be aware of what you already have. This confusion often leads to unnecessary spending. By keeping a recent inventory of all of your possessions or everything organized, you are less likely to buy things that you do not need. Staying organized and being able to easily locate items can help cut back on unnecessary spending.

Purchase quality over quantity

It is always a good idea to invest your money in quality items that you can use every day or in a variety of situations. Whether that be a perfect fitting pair of jeans or a trusty pair of running shoes, you will stretch your dollar the most and avoid reckless spending if you purchase with longevity in mind. There are certainly some items where spending on quality can ultimately save you money.

Live with a grateful heart

By continually counting your blessings, you cultivate a grateful heart. This sense of peace inevitably leads to a greater sense of fulfillment and a feeling of material abundance. An attitude of gratitude is one of the most useful ways to live when looking to reduce reckless spending.

Learn patience

To avoid impulse purchases, institute a waiting period in an effort to determine how much you really need an item. Whenever the temptation to purchase on a whim strikes, force yourself to wait at least 15 minutes to give yourself time to contemplate how much joy this item would bring to your life. Go for a stroll, get a coffee, or do anything else to help you evaluate how much you want this purchase before actually pulling the trigger.

Purchase for the present

Although it can be difficult to not purchase items for the future if you see a good deal, you avoid a myriad of reckless spending expenditures if you focus on just purchasing items that are needed for current needs. It can be tempting to want to think ahead and buy new things with a goal in mind such as wanting to wear specific clothing after losing weight or purchasing office supplies you might use later; it is more financially savvy to only buy for the here and now.

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3 Benefits of Having a Blog, No Matter Your Industry


Every business needs content marketing; it provides endless benefits. Therefore, every business needs a blog. Simply put, blogs give companies and their brands, regardless of their industry, a way to publish original content that engages audiences and provides the public with useful information. Additionally, companies can enjoy the following benefits of blogging, regardless of their industry.

Expanded reach

Blogging can extend the appeal of a brand to new audiences and market segments. This benefit can happen in more than one way. For example, firms can expand the number of topics addressed by their blog. As a result, more people will find the valuable information they need and, ultimately convert into leads and customers for the business.

By formatting content in different ways, companies can also reach more people. For instance, a brand could produce videos that appeals to their audience members who would rather not read blog posts. Similarly, businesses can publish infographics and interactive blog content that connects with entirely different sets of website visitors.

Public relations

Many businesses practically omit public relations from their operational strategy. However, simply by promoting corporate news, business owners and managers can increase their appeal to media outlets and community leaders. In short, a blog can serve as a do-it-yourself public relations platform and possibly attract third parties who might lead to free advertising opportunities.

In addition to announcing company news, firms can use blogging to introduce new products and services. Also, they can use their blog to introduce team members and give the world a behind-the-scenes look at their internal operations. Of course, businesses can also use their blog to promote events. Letting customers and clients get an inside look at the business’s operations helps the company seem more personable and connects with clients.

Competitive edge

Not every business uses blogging as part of their strategy. For this reason alone, companies can achieve a competitive advantage in the marketplace. In other words, they can easily get found by prospective customers via search engines while competing firms are difficult to find. Still, the benefits of blogging extend beyond search results.

In addition to added visibility for their brand, businesses can use blogging to establish their authority in their industry and the marketplace. As long as companies blog to address real-world problems and provide answers and solutions, they can build a loyal following. As time passes, shoppers will begin recognizing that brand as their go-to source for authoritative information.

In summary, blogging can supply businesses with many benefits, including those mentioned above. Ultimately, blogging provides valuable tools that companies in any industry can use to fuel growth.

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4 Reasons to Get a Source of Passive Income


Most people don’t give much thought to passive income, but it has many advantages and can increase your quality of life over time while also increasing your financial security. Although it can take time for passive income to accumulate, there are many long-term advantages that are available. When you’re looking to increase your net worth, there are many reasons to get a source of passive income.

Freedom of time

Passive income can provide you with the freedom of time, which is considered to be the greatest asset you can have. Although you can always earn or lose money, time can never be regained in the future. Passive income doesn’t confine you to a set amount of time that you have to work each day and can still allow you to get rich. Although there’s still work and time involved, you have more flexibility compared to earning income at a job that you spend time at each day. Passive income is also incredibly beneficial if you already have a full-time job; you can set up ways to earn more money on the side while also maintaining a full-time salary.

Spend more time doing what you love

By having passive income, it makes it possible to spend more of your time doing what you love and enjoying various activities or hobbies. You can spend your day exploring the outdoors or traveling the world without worrying about reporting to a boss. Spending more time the way you actually want to spend it can enhance your quality of life and allows you to feel more fulfilled.

Financial stability and growth

Passive income can offer financial stability and growth, which prevents you from having to worry about how to make ends meet each month. The income is automatic and allows you to put more of your focus on other areas of your life instead of having to crunch numbers. Even if you’re working a full-time job, knowing you still have a source of income if you’d lose that job leads to financial stability.

Reduces stress and anxiety

Passive income can reduce your stress and anxiety levels by not having to worry about how you’re going to earn money each month to survive. You won’t feel pressured to pay the bills, which can ease the financial burden and allow you to have more flexibility with how you spend your money. Stress that occurs due to finances can have long-term effects on your emotional and physical well-being, making it necessary to find a source of passive income that helps you protect your health and thrive long-term.