Your 30’s can be one of the most eventful decades of your life, from starting and expanding a family, buying your first home, or even achieving the financial freedom you have been working toward your entire life. Your 30’s can be eventful, and one of the best ways to make sure you have a successful decade is to go into your 30’s with as little debt as possible.
If you are still in your 20’s but approaching your 30’s, Freedom Debt Relief has found a review of the past decade can give you some insight on the steps needed to eliminate debt and achieve financial freedom in your 30’s. Heading into your 30’s with very little or no debt could put you in the best potion to achieve your goals.
Live Below Your Means
Saving money and eliminating debt can be more easily achieved by living below your means. Living below your means is when you make more money than you spend each month, living paycheck to paycheck with no money left over likely means you are living at or above your means, without living below your means you will never get ahead financially.
One of the best ways to live below your means is to cut out your wasteful spending. Spending on things you do not need or do not use very often can add up quickly if you do not stay on top of your wasteful spending. Tracking your spending with some personal accounting software is a great way to keep an eye on your spending consistently.
Outside of wasteful spending, you should make sure your housing and vehicle fall in line with what it takes to live below your means. Freedom Debt Relief reviews that if you live below your means and do without some things now, you will be better positioned in the future to have the things you want.
Save, Save, and Save Some More
It cannot be stressed enough, the importance of saving as much money as possible in your 20’s. You have heard it countless times before, the earlier you start saving, the better, but this holds even more true for people with lofty goals during their 30’s. If you are wanting to start a family or purchase a home, it is going to take money, and by having savings established, you can reduce the amount of debt needed to achieve your goals.
If you are not already saving, you should start from the moment of reading this article. Freedom Debt Relief has witnessed many times the difference in people who start saving early, and people who start at a later time in life. It is never too late to start saving, but the earlier you start, the better.
Debt can be a burden that holds you back from achieving all the goals you have set out for your 30’s. We determined the importance of saving, but before you can start saving, you have to try and reduce your debt as much a possible. It is highly likely the interest you are paying on your debt is more than the amount you will earn on your savings and investments.
If you are earning more on your investments, it may be smart to keep placing money in the investment, but if you are carrying debt with a high-interest rate, you need to pay that debt off as soon as possible.
After years in the industry, Freedom Debt Relief understands what lenders look at when assessing you as a loan candidate, if you think you are going t need to get loans in your 30’s for things such as a new home or vehicle, you need to go into your 30’s with as little debt as possible.
From student loans, credit cards, or any other debt you may have accumulated during your 20’s, you could have a significant amount to pay off before entering your 30’s, that is why Freedom Debt Relief continues to offer free debt consultations to determine the best course of action for putting your debt behind you.
Canadian-born financial expert, Andrew Housser, saw that there was a huge gulf between consumers and the power of debt collection industry and felt that there needed to be a way to help consumers. This idea has spawned into the award-winning company, Freedom Debt Relief, which has, since its inception, helped untold numbers of people get out of debt and negotiate fair terms for their debt repayment.