Why It’s So Difficult To Save Money In Your 30’s

It’s hard to save money, especially as you get older and there are more responsibilities thrust your way. If you’re not quite into the wilds of the third decade yet, worry not, as today I’m bringing you some expert knowledge in the form of Jon from The Money Shed – the UK’s largest community website dedicated to earning money from home!

Read on for a guest post guide to all things saving and spending…

The Difficulty Of Saving Money In Your 30’s

Your 20’s are a time in your life when you can afford to be a bit more reckless with your money. You generally have more disposable income which means you don’t have to budget as much. But once you reach your 30’s all of this goes out of the window.

Once you’re in your 30’s you will have to start thinking about saving more for the future. This includes planning for your retirement and thinking about your family. The chances are that by the time you are 30, you will have more responsibilities than when you were in your 20’s. This means that you should try and save more money in order to be able to deal with those responsibilities effectively.

The Homeowner’s Dilemma

Many people who are in their 30’s own their own homes, or at least are trying to save for a deposit for one. This means that you should be saving money for said deposit. Or you should make sure you always have an emergency fund should anything go wrong with your house. The older you get, the more expensive problems become, so having an emergency fund is pretty essential.

However, because you are more settled in life, you are more likely to have bigger bills which will make it harder to save. If you are saving for a deposit, or trying to save for an emergency fund then you may find it hard to actually save a decent amount. The problem with being in your 30’s is that you should be saving more, but you are also spending more.

A good way to combat this is to make sure that whatever you are spending, you are putting 50% of that into savings each month. Although this may seem like a lot at first, you will be grateful for it later. Once you have set aside the amount you need to spend every month, you will be left with your disposable income.

This is where your savings should come from. So it means that you may not be able to afford to go out to eat every week, and you may not have the money for a shopping trip every month. But spending this money is one surefire way to make sure your savings never get topped up.

Pensions And Family Considerations

Other money troubles that come in your 30’s are pensions. Suddenly you want to start thinking about the future, which includes making sure you are comfortable in retirement. Many companies offer a pension scheme which you should always make sure you are enrolled in. If your company doesn’t then you should look into private pensions. Although the future may seem like a long way off, the sooner you start thinking about it, the better off you’ll be.

Another thing that suddenly happens to you in your 30’s is family. Many people find that their 30’s are the time when they start having children and getting married. This is great but it does also come with increased financial responsibility. Saving for your children, saving for marriage – it all adds up. It seems like there is always one thing after another to pay for, and it seems that you can never keep hold of money long enough before it has been spent.

The Bottom Line

Making sure to budget properly is a good tip to help save money. It doesn’t have to be a lot of money each month, but a little is better than nothing at all. Remember, many people in their 30’s have lots of stuff figured out, and some people have nothing. Many people compare themselves to others and think they should be doing the same thing. It’s important to note that you are unique and just because someone else your age has everything sorted, doesn’t mean you should.

18 thoughts on “Why It’s So Difficult To Save Money In Your 30’s”

  1. There is always something to buy so I always feel like I am paying for stuff and not having much left to save. I think I might be a better saver in my 50’s when the kids are old enough to look after themselves!

    1. I know exactly what you mean! I’ll probably end up living in a shoebox somewhere when I’m 60 odd as I’ll have blasted all my cash on the family!

  2. We never managed to save much in our 30’s but now we are getting mid way into our 40’s we are doing much better. It’s a real tricky one isn’t it

  3. I just entered thirty-hood and still trying to save up for a deposit for my first home. There are so many bills going out right now but It is not impossible

    1. That’s the spirit 🙂 I think it’s doable, but tricky – fingers crossed you can save a decent wedge for that house!

  4. I am in my 30s and I totally agree I have way less disposable income, all my cash goes on my children and home these days. Totally wished I had of saved in my 20s as looking back I wasted so much money

  5. We are very strict with our budget and it really helps, although my bank account still seems to have a leak! I am now out the other side of my 30’s and I would say it is still hard….yesterday my double trouble 6 year old twins needed 6 pairs of new shows between them…indoor trainers (you have 2 pairs here in Sweden) outdoor trainers, and shoes…..that was a big impact!

    1. It’s neverending isn’t it! So difficult to try and keep on top of it all as the cost of living is skyrocketing constantly. Double trouble with twins too I can imagine!

  6. YES!! I find it so hard to save money since we had four kids too, they always need something! Budgeting is a huge thing for us, I need to try harder!

    1. I can imagine! Juggling the money is tough for me with just the one, I’ve got no idea how you do it with four!

  7. I’m not 30 for a few more years yet but I’ve been thinking more about the need of an emergency fund especially as we plan to buy a house within the next 3 years or so. I must admit I’ve not really thought much about pensions but definitely worthwhile thinking about it.

    1. Yeah I’d definitely recommend a bit of forward planning, it’s horrible how quickly it creeps up on you! Defo get a bit of an emergency fund on the go for that house too 🙂

    1. It’s really interesting when you start tracking it down to the pennies – I couldn’t believe how much my broadband and TV was costing me each month once I started to really break it down!

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