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Saving Tips for Working Women in Their 30’s

While the thirties is an exciting time for any working woman, it is also the time to make the right choices, whether it comes to career, relationships, and money.  It is observed that most working women are not very serious when it comes to finances and saving, and do not set any realistic goals. Well, this is just the right page for all the working women looking for tips and guidance on finances and how to save money.

Working women in their thirties should get serious about their money and start saving. Here are some tips to keep you right on track:

  • Take a look at your budget- Sit down and make a list of the inflow and the outflow of your cash. Rethink about your current expenditures that can be curtailed and try to curb the outflow of your cash. Perhaps you need not buy the latest phone in the market and can eat more at home.
  • Channelize your money – Having the right and sensible budgetary allocations would immediately put you in a stronger position financially. Control all those wasteful expenditures and build your money power.
  • Pay off debt – In case you have any debt on your head, clear that off first. Pay attention to those monthly EMIs as they tend to make a huge hole in your pocket in the long run. So, get rid of those EMIs and give a fresh start to your finances. Do not ignore those credit cards debts and loans and make a realistic plan to pay them off. Face them with confidence and add your credibility.
  • Save for retirement – Remember that the thirties are going to be over soon and followed by forties and fifties. the sooner you think about your retirement years, the better it would be for your golden years. Of course, CashLady is always there to help you tide over any financial crunches, but it is always a good idea to have your own savings.
  • Create an investment portfolio- Get an expert’s advice and develop a sound portfolio of investments to ensure savings as well as best returns. Get your investment portfolio reviewed from time to time and give your investments the much-needed time to grow.
  • Lower tax returns – Look for useful government schemes where you can invest and nullify your tax returns. Thus, you end up making a good saving here and need not get anxious about how much tax you would have to pay.
  • Get more of insurance cover – Buying insurance very early in life is a good idea as it offers one the much-needed financial security, not just for themselves but for their dependents. Moreover, if you buy insurance early in life, it would be a lot cheaper. Additionally, insurance rates are cheaper for women as compared to men.
  • Discuss finances with your partner – If married, get your partner involved and discuss your finances in detail. It is always better to have two brains working together than one and one can manage their income and expenditure better. You could discuss your financial goals together and set a timeline for significant expenditures like house, car or children education.

There is nothing wrong with enjoying life or wanting the best. However, if those habits are hurting your finances, it is time to pause and have a look. Take responsibility for your life as you are the only one who can do so. Get smarter when it comes to finances, and if you have a healthier bank balance , you are sure going to be in a much better passion, financially and mentally.