Issue link: https://read.dmtmag.com/i/630222
JOBS for TEAMS | 20 www.jobsfor teams.com Manliness The Art of by Brett and Kate McKay courtesy of artofmanliness.com T oday we take a look at 7 personal finance goals for your 30s. While many of the goals you should set dur- ing this decade of your life are simply a continuation of those you hopefully started on in the previous one, your thirties bring some unique personal finance challenges that didn't exist when you were a relatively carefree 20-something. As a friend once put it, "In your 30s, you're just running." You're likely married, have small children, and your career is starting to take off — everything's launching and/or accelerating at once. And with these new responsibilities come new personal finance goals. As you read the suggested personal finance goals for your 30s, keep in mind that everyone is in a different place, so naturally everyone is going to have different objectives. But if you're feeling confused and over- whelmed about money, it's some- times helpful to see suggestions for milestones to hit at certain points in your life. You can then take those broad suggestions and refine them so they fit your personal circumstances. 1. Save six months of income in your emergency fund. Hopefully by now you've started an emergency fund. In your 20s, the goal was to get at least $1,000 in your savings account before you started paying off your debt. This provided a small cushion to prevent your financial life from derail- ing in the face of unforeseen expens- es. In your 30s, you likely have more on the line than you did in your 20s — like a wife and kids to take care of and a mortgage. While having $1,000 in savings will certainly help, you'll want even more security than that in the event you lose your job due to a layoff or injury. To that end, make it a goal to save at least six months of in- come in your emergency fund while in your 30s. Why six months? Studies have shown that after you lose a job, it takes around that amount of time to get a new one. Having six months' worth of income in your savings account will ensure that you can con- tinue to support your family while you're hitting the pavement looking for a job. And besides protecting you from negative events, having six months of cash in the bank gives you a bit of freedom to take some risks. Maybe you finally want to start that busi- ness you've been dreaming about personal finance goals for your 30's 7