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3 Smart Money Moves To Make In Your 30s

Date: Friday, March 24, 2017 11:03 AM EDT

Your 30’s signify an important stage in your life. It is the point where you get to transition from the college lifestyle to one filled with hundreds of responsibilities. At this stage of life, one has already left behind the post collegiate lifestyle and now, he or she is faced with major milestones. For example buying a home, getting married, planning major life adventures, climbing up the career ladder and having children.

Regardless of the type of lifestyle one may lead, one thing that remains true is the making of significant money decisions and choices. These decisions will impact your present and future life positively or negatively. Today, there are people who are in their 30s and are yet to attain financial success. This is attributed to the tough job market, stagnant salaries and increased student loans. This does not mean that one should resign and accept that life is difficult. It is important to have an optimistic outlook not only for the next minute but for the next day and others to come.

To ensure that your future life is secure financially, there are key decisions and smart money moves you need to make when you are in your 30’s.


Buy a home or invest in real estate while interest rates are low

There are two major housing market shifts which encourage home buyers to pick up their phones and call their real estate agents. They include a drop in housing prices and low interest rates. As a young man or woman in their 30s, buying a home or investing in real estate when the interest rates are low is a great idea. When it comes to interest rates, its importance cannot be overstated pertaining to mortgage. For loan amounts that reach 6 figure sums, a small difference in the interest rate is a huge impact on the bottom line.

When it comes to buying a home, large sums of money are usually needed. Since not everyone has the purchasing power to buy a home fully in cash, many people end up seeking mortgages. When you buy a home or invest in real estate when the interest rates are low, you will get to save money on your mortgage payment. Furthermore, it will lower the amount of interest being charged on the loan over time. This is good news for you as you will get to build equity thanks to owning a home and secure yourself financially.
Making smart money moves regarding the above depends with your short term and long term planning. If you are planning to buy a home, you need to stay in it and not think about selling before the loan is up.

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