The Ultimate 30s Financial Checklist

No matter what your current financial situation is, building healthy financial habits now will help you achieve your long-term goals.

Establish Your Emergency Fund

Avoid a financial headache, establish an emergency fund early on. Establishing a separate, out-of-sight, account will help if you’re prone to money burning a hole in your pocket.

Pay Off Your High-Interest Debt

Credit cards and student loan tend to accumulate interest more quickly than other types of debt. Prioritize these payments in order to avoid high-interest costs associated with the accounts.

Kickstart Retirement Planning

Take advantage of employer matches for 401K plans and other retirement accounts. Look into opening up an IRA account to take advantage of tax benefits associated with retirement accounts.

Purchase Life Insurance

If you have dependents, consider purchasing life insurance to make sure those you care about are taken care of in case of an emergency. Benefits are generally tax-free to the chosen beneficiary.

Explore Disability Insurance

Avoid financial pitfalls like bankruptcy or delayed payments by purchasing disability insurance. This ensures you are able to continue paying for expenses even while not earning an income.

Consider Buying vs Renting

When looking at your long-term financial plan, buying a home versus renting a home may be more advantageous. Owning a home builds equity, and maybe tax-deductible, it also forces you to develop a savings plan to pay down your mortgage.

Begin College Planning

A 529 Savings Plan offers great tax benefits for dependents you choose that will eventually be able to help them pay for college expenses such as tuition and books. Starting a plan as soon as you have a dependent will maximize the effect of the account over time.