Being 30 is an age when you are ‘young and fabulous’, as some call it. But being 30 it’s also about the time when you really have to think about your future. It’s a time when you think about finding the love of your life, starting a family and building your future as you want it.
This requires a whole lot of responsibility if you want to make it right, because you can’t just ‘go with the flow’ as some people think when they are younger. Starting a financial planning is the best thing to do, especially now when you have the energy to work and the resources you need to put things in motion for you.
Here is what you can do:
Think Of Your Future Family
You may be single now, but soon you’ll find the love of your life to share everything with. You may have somebody by your side by now, and soon you’ll want to get married and start a family. You are already married, and soon you’ll have to think about the prosperity of your whole family, not just yourself.
If you haven’t thought about it, this is the moment when you have to take into consideration getting a house just for you – and your family, if this is the case. Thinking about renting or buying is very essential, because sometimes buying one can be less expensive. Paying a monthly sum of money may lead you to a loan for a house, especially if you can afford it and if the value per month is less than renting it.
Start with budgeting and think about what you can cut out from what you usually do. For example, if you are used going downtown every night and taking dinner, it’s time to take into consideration home-cooked meals, not only because these are healthier, but also because these are less expensive.
Think before about bringing a child into this world. It is a tremendous responsibility, but also it takes up a small fortune. Planning ahead might save you the trouble when the time comes for a child. Ask around your friends who already have kids; this will make you an idea about how much money this costs during a month and you will be able to save some money before the child appears.
Unexpected Things Can Happen
This being said, think about making insurance. A health insurance is extremely important, especially if you want to start saving money, not spending more and more. Illness insurance, an accidental insurance or insuring the loans that you have or other liabilities is a necessity.
If you are already married, consider talking to your spouse about the income, the savings and the expenses. Everybody in the family needs to know how much money you spend with your credit cards or how many loans you have.
Nobody says you can’t dream about being the CEO of your extremely large company one day, but until then, think ahead and act second after thinking. Taking control in administering your finances represents the fist step in achieving the success you are looking for.
It’s the same as following a diet plan – if you want to be slim, you need to exercise daily and fallow a strict diet. The same can be applied for the financial planning. Take time and talk to a financial planner. They are specialized exactly for this kind of advice and they know their job very well.
College Is Important
If you’ve gone to college and your spouse has gone to college, then your children should go to college too. It’s never too early to start saving funds for the college of your children or future children. Education is important, but it is also expensive, so you should plan ahead for the times that come. If you can postpone buying something, education can’t be postponed.
Start your financial planning today at PCCNJ and save for the future!