How to Build Wealth in Your 30s: Starting Now!

20 Best Ways For Building Wealth In Your 30s

Today, let’s talk about how to build wealth in your 30s.

Because it’s an important time in life. To make the most of your money.

So, we will hit all the key topics. Specifically,

  • Making money
  • Best ways to save money
  • Best investments
  • How to manage money

With that introduction handled. It’s time for how to build wealth in your 30s…

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Disclosure: At no cost to you, I may get commissions for purchases made through links in this post.

20 Tips About How To Build Wealth In Your 30s

Here are 20 of the best ways to grow wealth in your 30s:

  • Focus on your job or career
  • Take calculated career risks
  • Evaluate your side hustle
  • Increase your emergency fund
  • Fine-tune your budget
  • Live below your means
  • Be smart about where you live
  • Buy used cars
  • Pay yourself first
  • Payoff non-mortgage debt
  • Save for your children’s education
  • Maximize 401(k) contributions
  • Open and fund a Roth IRA
  • Invest in stocks & ETFs
  • Consider real estate investments
  • Take risks but diversify
  • Seek alignment with your partner
  • Check your insurance coverage
  • Automate and consolidate
  • Make a plan & stick with it

Does this list look too intimidating for you? No worries.

Then, check out this article about wealth-building in your 20s. It’s more of a beginner’s guide.

Next, let’s go through each of these wealth tips and trends in more detail. Starting with making money in your 30s…

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1. Focus On Your Job Or Career

The earnings from your primary line of work are critical in your 30s. After all, you are not making money starting from scratch. Because you have a foundation of experience in place from your 20s.

So, do the following to increase your income:

First of all, leverage your experience to make the most money now. Furthermore, learn new skills.  And, position for advancement in the future.

Finally, it may take a job change to maximize your earnings potential. This can be with your current employer. Or, with a new one.

Either way. Keep building skills for your resume.

And make sure your resume is the best it can be. To capture that next job opportunity. Where you can make a lot of money in your 30s.

Do you need help with your resume? Then check out this online tool from MyPerfectResume.

2. Take Calculated Career Risks

While we are on the topic of your job. It’s important to not get complacent in your 30s.

It might feel good to settle into a role. But it can limit your development and wealth-building capabilities later in life.

You may feel like a job is “above your head”. But, don’t fall for that line of thinking.

In contrast, be sure to push the edges of your comfort zone. As it pertains to your next position and life’s work.

As long as the risks you take. Will reward with additional compensation.

Next, how to grow your wealth in your 30s means…

3. Evaluate Your Side Hustle

Here is 1 final point about earning money in your 30s. Specifically, evaluate your side hustle if you have one.

Make sure your side hustle is economically productive. If it is, great. Keep it going.

But, if it’s not. Seriously consider dropping any investment of your time toward it. Then put that time into developing new skills that will benefit your primary career.

Looking for a low-maintenance side hustle? To make a little extra cash?

I use Survey Junkie for taking consumer surveys in exchange for cash.

Okay. That takes care of making money in your 30s. Next, let’s transition to saving money in your 30s…

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4. Increase Your Emergency Fund

Hopefully, you have an emergency fund in place. Having established it in your 20s.

Your emergency fund should be large enough to cover 3-6 months of living expenses. And perhaps, your living expenses have increased? Since you last took a hard look.

So, check out your emergency fund balance. Then top it off if necessary.

Finally, be sure to get paid the best interest rate on your emergency funds. I like high-interest savings and money market funds for earning the most interest on my emergency stash of cash.

And while you are calculating your living expenses for your emergency fund…

5. Fine Tune Your Budget

Dust off that budget.  In case you haven’t looked at it for a few months.

Then update it for your current income level. And current spending.

Finally, look at the line items in your budget that can be reduced or eliminated. Because how to grow wealth in your 30s means…

6. Live Below Your Means

If you want to build wealth in your 30s. You must live below your means now.  For financial abundance in your future.

So, the top line of your budget should list your monthly earnings. From your job, small business, and side hustle if you have one.

Then look at your expenses. Are you spending less than you make? If not, cut costs.

Because spending less than you make, or said another way, living below your means. Is an essential element for growing your wealth and amassing a fortune in your 30s.

Here’s the harsh reality. Suppose you allow lifestyle creep and do not live below your means. Little else you do to create wealth in your 30s matters.

So, here are a couple of simple things you can do right away to save a little money.

First, earn cash rebates from Rakuten. On all your online purchases.

Getting cashback. Well, it’s like free money in your pocket.

And, if groceries are a big cost for you. To save even more money, shop for the best deals and sale-priced items.

Beyond those little things. That can add up fast. Here are some of the big-ticket items.

Representing more of the best ways to save money in your 30s…

7. Be Smart About Where You Live

Be sure to choose an affordable place to live. Since it will consume the greatest share of your budget.

Don’t buy more home than you need. Stay away from luxury apartments. Or, luxury locations.

Choosing those living options will burn a hole in your budget fast. And one more point about where you live.

Specifically, try not to move very often. Yes. I know it may be necessary to downsize your home. Or, relocate for that higher-paying job.

But outside of those 2 reasons. Limit your moves. Because moving is expensive.

Here is another money-saving must do…

8. Buy Used Cars

Buy a used car. Maintain it well. And keep it as long as it is practical to do so.

Used cars are one of the best ways to save money in your 30s.

Okay now. You have fine-tuned your budget. And have created some extra cash by saving.

Next, hammer this money mindset concept into your head…

9. Pay Yourself First

By living below your means. You can create your luck with money. And now have the opportunity to pay yourself first.

Reward yourself by saving that extra money. Consider it your bonus for a job well done.

Not sure what to do with the extra cash? Here’s a suggestion…

10. Payoff Non-Mortgage Debt

Allocate your extra money to paying off all non-mortgage debt. Start with your credit card debt. Then move on to auto loans, student loans, and any personal loans you carry.

Because paying off non-mortgage debt. Especially, credit cards. Is one of the best risk-adjusted investments you can make in your 30s. Every certified financial planner will tell you the same thing.

On the other hand, if you need a mortgage. Also, a loan for your business. Or, just want to consolidate and refinance your debt to reduce interest and better manage the payments. Then be sure to shop online for the best deals.

11. Save For Your Children’s Education

Then, if you are planning a family. Or, have children already.

Set some money aside each month. To do so, open and fund a college savings account.

When you are ready to get started, make sure that you take a look at 529 plans. Investing in a 529 plan is one of the most efficient ways to save for your kids’ college costs.

Okay. That takes care of saving money in your 30s. Next, let’s transition to investing in your 30s…

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12. Maximize 401(k) Contributions

The best investment in your 30s is your company-sponsored 401(k) or 403(b) plan. Get signed up and start contributing.

Already participating? Then see if you can find some room in your budget. To increase your contributions.

At the very least, contribute the minimum amount required. To get the maximum company match.

Because of your contributions. Plus your employer’s match. And the tax advantages these plans offer.

Combine to make a powerful tool. To save for retirement. Thus, investing in your 401(k) may be one of the best money habits to start now.

Here’s another tip on how to build wealth at 30…

13. Open And Fund A Roth IRA

The second best investment you can make in your 30s? Opening and funding a Roth IRA.

Unlike an employer-sponsored plan. Where contributions are often made on a pre-tax basis.

Roth IRA contributions are made after-tax. But, your Roth IRA funds will never be taxed again. No matter how large the account grows.

Have you been meaning to open an IRA? And start saving more for retirement. If yes, do it.

14. Invest In Stocks & ETFs

What is third in our pecking order of best investments to make in your 30s? Stocks. Or, ETFs that hold stocks.

So, open a taxable brokerage account. And choose some good stocks or stock funds. For your allocation of additional investment dollars.

Because history suggests that a diversified basket of stocks. Is one of the best assets to buy in your 30s. And hold for long-term wealth-building from investments.

Just be sure to keep your investment costs low. And never pay a stock trade commission again. Those costs are a thing of the past.

If you are looking for an online account option. To invest in stocks and ETFs.

Then consider Webull. Their fast and functional app makes stock trading easy. Plus the app has excellent research capabilities.

All for free. You can learn about opening a Webull brokerage account here.

15. Consider Real Estate Investments

Here is another of our wealth-building tips and trends. Specifically, consider real estate investments. It is the fourth and final investment to consider in your 30s.

First of all, real estate offers diversification benefits. On the other hand, it can be more involved to be a real estate investor. Depending on how you go about it.

Are you looking for an easy way to invest in real estate? Where you do not need to physically manage properties?

Then consider crowd-funded real estate investment platforms. And, one I like is Realty Mogul.

So, if you are not ready to manage a physical property investment. But desire to invest in real estate. Then give Realty Mogul a try.

One last word about how to invest in your 30s…

16. Take Risks But Diversify

Just like with your career. Get comfortable taking smart risks with your investments.

Your 30s are not the time to stuff your money in the mattress. Or, put it all in a low-return money market account. That account should be reserved only for your emergency fund.

So, as I have said. Look to stocks and real estate. But, stay diversified. And don’t put all of your eggs in one basket.

Low-cost stock ETFs. And real estate crowd-funding. Are both great ways to increase your investment diversification.

Okay. That takes care of the best investments in your 30s. Next, let’s transition to how to manage money in your 30s…

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17. Seek Alignment With Your Partner

Most times. Folks like you and I are coupled up by the time we hit 40.

As you make such an important life decision. Ensure your partner to be. Or, your current partner. Is aligned with your way of thinking about finances in your 30s.

Many couples break up. Or, have stormy relationships. Because of disagreements over money.

Don’t let that happen to you. So keep an open line of communication.

To build wealth in your 30s. And let the attraction of money be part of the relationship.

18. Check Your Insurance Coverages To Protect Wealth In Your 30s

Just like you need to check on your emergency funds. And fine-tune your budget.

Make sure your insurance coverages are up to date.  And consistent with your age bracket and status in life.

The most important coverages to have in place are:

Health insurance: So a health issue doesn’t blow a hole in your personal finance.

Disability insurance: In case you become physically unable to work.

Life insurance: When you have loved ones dependent on your economic support.

Property insurance: To protect from catastrophic loss to your home, autos, and belongings.

19. Automate And Consolidate Finances In Your 30s

When managing money in your 30s. Look for ways to consolidate and automate.

Consolidate: Hold as few financial accounts as necessary. To keep your financial life as simple as possible

Automate: Direct deposit your paycheck. And have all bill payment, savings, and investment transactions automated every month.

Automation ensures you never pay a bill late. And puts the pay yourself first mindset on autopilot.

Furthermore, paying all of your bills and loan payments on time will increase your credit score. So, be sure to keep a close eye on your credit report. You can do so for free using Credit Karma.

Last but not least. For, how to build wealth in your 30s…

20. Make A Plan & Stick With It To Build Wealth in Your 30s

I know I have given you a lot to think about. Don’t let it overwhelm you.

Because you can’t do everything on this list at once. And, you don’t have to.

Because your 30s consist of 10 years. So, make a plan. From the options that I have thrown at you today.

Here’s what I suggest…

First, fine-tune your budget, live below your means, and top off your emergency fund. Then check your insurance coverages.

Get these things done right. And, done now.

Then make a plan for addressing all of the items from today’s list. That pertains to your situation.

Learn all you can. And be your own financial advisor. As the decade of your 30s moves along.

Don’t procrastinate. But also realize, building wealth in your 30s is a money journey of sorts. Not an immediate destination.

Finally, monitor and stay on your plan. Consider a tool like Personal Capital for managing all of your expenses and investments in one place.

Best of all? Personal Capital is free to sign up and use. You can learn about Personal Capital here.

Okay. That’s it for today. Let’s wrap up with a summary…

Wrap Up: How To Build Wealth In Your 30s

Make a plan to tackle these 20 tips for how to build wealth in your 30s. Then you will be prepared to tackle finances in your 40s.

  • Focus on your job or career
  • Take calculated career risks
  • Evaluate your side hustle
  • Increase your emergency fund
  • Fine-tune your budget
  • Live below your means
  • Be smart about where you live
  • Buy used cars
  • Pay yourself first
  • Payoff non-mortgage debt
  • Save for your children’s education
  • Maximize 401(k) contributions
  • Open and fund a Roth IRA
  • Invest in stocks & ETFs
  • Consider real estate investments
  • Take risks but diversify
  • Seek alignment with your partner
  • Check your insurance coverage
  • Automate and consolidate
  • Make a plan & stick with it

Do it well. And maybe you will become a millionaire someday!

More Reading About How To Build Wealth In Your 30s

My Favorite Resources For The Best Ways To Build Wealth In Your 30s

Throughout the article, I mentioned several of my favorite finance resources. I have summarized them here for your convenience.

Best of all, many of them are free to sign up and use. To build wealth in your 30s.

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Author Bio, Disclosure, & Disclaimer: Please join me (Tom) as I try to achieve my goals, find my next place to live, and make the most of my money. However, I am not a licensed investment adviser, financial counselor, real estate agent, or tax professional. Instead, I’m a 50-something-year-old, early retired CPA, finance professional, and business school teacher with 40+ years of DIY dividend investing experience. I’m here only to share my thoughts about essential topics for success. As a result, nothing published on this site should be considered individual investment, financial, tax, or real estate advice. This site’s only purpose is general information & entertainment. Thus, neither I nor Dividends Diversify can be held liable for losses suffered by any party because of the information published on this website. Finally, all written content is the property of Dividends Diversify LLC. Unauthorized publication elsewhere is strictly prohibited.

How To Build Wealth In Your 30s