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Your 20s were about learning and finding your direction. Your 30s are about getting organised – especially when it comes to money.
At this stage, you might have a mortgage, a growing career, or perhaps a young family. If your finances still feel a little unstructured, don’t worry. It’s the perfect time to take stock, plan, and build a foundation for long-term security.
1. Am I financially literate?
Many capable people don’t fully understand how money works – and that’s more common than you might think.
The good news? You have something powerful on your side – time. The earlier you learn how to make your money work for you – through saving, investing, and informed decisions – the greater the benefit from long-term growth.
2. Am I in control of my money?
The most effective thing you can do to get ahead is incredibly basic – spend less than you earn and do something constructive with the difference.
If you’re not sure where your money goes each month, you’re not fully in control. Tracking your income and expenses – even for a few months – can help you identify opportunities to save, invest, or plan more effectively.
Learn more about creating a budget here
3. How much debt do I have?
By 30, most people have some level of debt – whether it’s a student loan, car finance, or credit card balance. The key is how you manage it.
List all your debts and their interest rates. Prioritise paying off the highest-interest ones first and consider consolidating where it makes sense.
Learn more about debt consolidation here
4. Is it time to buy a house?
Before asking, “What’s the maximum I can borrow?”, try asking, “What can I comfortably afford?”
When doing your calculations, test your repayments at a higher interest rate as well as the current one. This helps ensure you could still manage repayments if rates rise. Owning a home can be a great milestone – but true financial confidence comes from knowing it fits comfortably within your budget.
Learn more about buying a house here
5. Am I starting a family, or planning to soon?
Your early 30s are often when life gets busier – and more expensive.
If you’re planning a family, start by understanding your household cash flow. Try living on one income for a few months before parental leave begins and familiarise yourself with the Paid Parental Leave scheme and any employer entitlements.
Once children are in the picture, review your insurance cover. Life, income protection, and health insurance become more important when others depend on your income.
Learn more on budgeting for a baby here
6. Do I have an emergency fund?
Unexpected expenses are a part of life – from car repairs to medical bills or job changes. An emergency fund provides a financial buffer when those moments arise.
Aim to have around three months of essential living expenses set aside in a separate account. Also review your income protection insurance to ensure your level of cover suits your circumstances.
Learn more on building an emergency fund here
7. Am I keeping an eye on my super?
Your super will be one of your biggest long-term assets – so it pays to know how it’s performing.
Many Australians don’t know which fund they’re in, what fees they pay, or how their super is invested. Take a few minutes to check:
- Are your investments aligned with your goals?
- Are your fees competitive?
- Does your fund include insurance cover, and is it appropriate?
- Have you nominated a beneficiary?
Learn more about superannuation here
8. Am I investing – or just saving?
Saving is essential, but if your money is sitting in a low-interest account, it’s not really growing.
Investing allows your money to work harder through compounding returns. Understanding risk, diversification, and time horizons can help you make smart decisions that build wealth steadily over time — even starting small.
Learn more about investing here
9. Do I need a will?
If you have children, a partner, or assets, the answer is yes.
Without a will, state laws determine how your estate is distributed, and it may not reflect your wishes. Having a simple will in place ensures clarity and security for your loved ones. Remember to update it as your life and circumstances evolve.
Learn more about what to include in your will here
The bottom line
Your 30s are a pivotal decade – you’re likely earning more, making bigger life decisions, and still have time on your side.
Taking control of your finances now can make the years ahead far less stressful and far more rewarding.
Financial confidence doesn’t come from knowing everything – it comes from knowing where you stand and taking action.
Meet Tony at wetalkmoney or Find a Planner near you!
The Money & Life website is operated by the Financial Advice Association Australia (FAAA). The views expressed in this article are those of the author and not those of the FAAA. The FAAA does not endorse or otherwise assume responsibility for any financial product advice which may be contained in the article. Nor does it endorse or assume responsibility for the information.
