Money Milestones for your 30s

Posted in Investment By Aadeesh Kumar - Dec 6,2022
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Turning 30 is an important milestone for any working person, be it an aspiring professional or a self-employed individual. However, many overlook the importance of investing and saving during the initial phase of their careers, which could pose financial constraints down the line.  


Here are some important money milestones that you should achieve in your 30s: 

1. Create Your Safety Net

Warren Buffet once said, “Do not save what is left after spending, but spend what is left after saving.” This rings quite true as an excellent practice for all earnings, as it can help secure your finances during emergencies. It is especially applicable when the money required for a particular expenditure is much more than what you can afford. Those with unsteady/inconsistent jobs may find this helpful when their income is insufficient, or for those with families to take care of. You can rely on this pool of saved money during difficult times. 

 2. Get Rid of All Your Debts

At an earlier stage of your career, you may be tempted to rely on credit to finance your purchases, but this can work be a double-edged sword. Often, the interest levied on such credit, be it loans or EMIs, could result in you paying much more than what the product costs. In any event of non-repayment, the bills can stack up to exorbitant amounts, leaving you in crippling debt by the time the 30s roll in. Hence, a feasible solution for you would be to try and clear all debts in time, to avoid financial duress and maintain a good credit score.  

3. A Great Credit Score Can Come Handy!

Another overlooked aspect of finance is that of maintaining a good credit score. For every individual, the criteria of the score depend on multiple factors. These include your credit accounts, timely repayments, non-utilisation of all available credit, consistent profile details, and the number of enquiries made about the repayment of your loans. Here, CIBIL is considered to be a benchmark for credit rating and ranges from 1 to 900. Having a high credit score, between 750 to 800+, means greater chances for you to avail of loans and credit card services.  

This is because lenders utilise this score to determine a person’s financial soundness and capacity to repay the loans. A good CIBIL score can help you avail financial help during emergencies. 

4. Develop a Pool of Investments for Your Portfolio

After having created emergency funds, your next step would be to invest in market-related instruments, which can ensure long-term financial gains and savings. For instance, investing in fixed deposits or mutual funds can grow your savings in the long run. This is because the minimal amount given away for investment could net you huge, stable profits much later. There are multiple other riskier options such as stocks, cryptocurrency, initial public offerings (IPO), and more available to you. This makes it important to choose the right investment instruments to cater to your needs after receiving suitable consultation.  

If you would like to read some expert advice on investing, check out: Investment Advice: Rakesh Jhunjhunwala

 5. Try to Achieve Financial Stability Before It’s Too Late!

Your next priority should be working with what is available at present. One way to achieve financial control over yourself would be to track all your expenses regularly, including all poor purchasing habits.  

This can help set a benchmark that guides how you spend the rest of your money while you wait for your next pay cheque. It even helps limit your usage of emergency funds, thus further building your savings.  

 6. What About Your Retirement Plans?

While it may be unconventional for you to even think about retirement at the start of your career journey, it can serve as a waypoint for future growth prospects, finances, and other plans. Here, the goal is to quit working with more than enough money to fulfil your needs and provide for your family for the years to come. This can be achieved through savings from your retirement pension plans or PPF account funds. 


Everyone has a goal of having more than enough finances for their needs and wants by the time of retirement. There are many ways to go about saving, but you need to be careful while devising your plan to avoid losses in the long run. Now that you know what money milestones you need to achieve in your 30s, head to Bajaj Markets to begin investing and achieving your milestones!


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