The Healthy Investing Habits to Start Doing in Your 30sWith these money tips, you're on your way to seeing triple and quadruple your savings.
ByPhil Town•
Opinions expressed by Entrepreneur contributors are their own.
In this video, Entrepreneur Network partner Phil Town explains some of the best ways to invest in your 30s. One value to pay special attention to is compound interest. Compound interest creates overwhelming value over time, especially if you begin investing early in your life. Getting a jump start on saving will help you later in life when you want to do whatever you want or be as productive as possible.
Another tip: When you get a raise, increase your 401(k) payments. Concentrate on saving as much as you can and avoid the lifestyle creep by maintaining the same standard of living even as you accrue more income. Town says he was able to build wealth by cutting down his yearly salary to just $4,000 and living with one box of belongings when he was a river guide.
Moreover, pay attention to your credit score and make sure it is in good shape. If you have a poor credit score, this may mean you could end up paying more interest on big-ticket purchases many people make in their 30s.
To hear more about on starting healthy saving habits, click on the video.
Related:What to Look for on Profit and Loss Statements When Investing
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