“One of the great things about turning 30 is figuring out how to dress comfortably and still look good.” – Cobie Smulders
Congrats you are in your 30s! You are taking off in your career, you (already or) are about to tie a knot, you are mature enough to understand life and assess the future needs. Wiser the moves you take now, the better are the chances to give a right shape to your future. Here is the list of some useful tips compiled by ArthaYantra, world’s only full-service robo advisory.
Be Open To Talk About Money With Your Partner
Be open with your partner and discuss your finances. It is a good idea to discuss money matters even before tying the knot. Understand each other’s financial background, spending patterns, financial decisions and so on. Get the emotional connect. Sort out and get one owner to manage your finances. Plan together as a team on how to spend and save up.
Plan Before You Commit to Expand The Family
Plan ahead to offer a hearty welcome to your first kid. Financial stability is what all it takes. Be ready to face the rise in expenses that accompany the infant. Invest your savings with the right financial plan to accumulate the amount required to meet hospital bills, vaccines, baby essentials and so on.
Keep Enough Money in Hand to Meet Emergencies
The most important step is to be prepared for emergencies financially, as they may occur without any warnings! Maintain liquidity of at least 3 to 6-month salary to withstand emergency until you make a recovery. Take right health insurance plans to deal with any emergency medical issue. If your employer is offering a health insurance, check if it is enough to cover your entire family. To add more cover, go for the one with more health cover and stay safe.
Secure Your Family By Insuring Your Life
Now that you are not single but a bread owner to your family, it is your responsibility to ensure they do not suffer in your absence. Get a life insurance for yourself to make sure that your family leads a comfortable life even after your demise. Also, do not neglect on writing a Will so that your assets and property gets inherited to your loved ones without any deviation. Writing a Will is easier these days with the availability of online or E-Will facilities with financial organizations like ArthaYantra.
Plan Together To Enjoy The Life Ahead
Planning together nurtures and strengthens your bonding with your partner. Engage and build stronger relations by planning together for a dream vacation, buying a home or a car. Discuss your aspirations for further education and a lot more that you may want in life. Understand that each of your goals is interconnected. And it is imperative for you to get the complete financial planning done by an expert that keeps your aspirations at the center of the advice.
For expert advice on how to create a holistic financial plan and the ways to fulfill the goals, approach ArthaYantra. We focus on dealing with each goal differently with a personalized plan for each, through right investment platforms. Make the best of this golden phase to build a rosy future together.