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Building wealth from €0 in your 30s

Want to build a solid financial foundation but starting from scratch? We've got you covered with this non-judgey guide to building wealth in your 30s.

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So, you're in your thirties and starting from square one when it comes to your finances. Don't worry, you're not alone, and the good news is that it's never too late to take control and set yourself up for financial success. Congratulations on taking the first step.

In this article, we're going to walk you through a step-by-step guide of practical tips and empower you to make informed decisions as you navigate your financial journey with enthusiasm. It’s not rocket science, we promise. 

Step 1: Assess your current financial situation

Getting a grip on where you currently stand financially is the first step toward building a solid foundation for your wealth. Let's take a closer look at how to assess your situation and define your goals, without breaking a sweat or drowning in crippling anxiety.

Take a close look at your income, expenses, and debts, writing them down or putting them in a spreadsheet. Identify areas where you can make adjustments to free up funds to save money or invest, and then set some clear goals, both short-term and long-term. Want to buy a house in 5 years, or take a trip to visit your friend in Hong Kong? Jot them down, goals are motivating.

Step 2: Build a strong foundation

Armed with a realistic picture of what your finances look like, work your way through the following three steps to start establishing a strong financial foundation. 

  • Create a budget and track expenses

The boring news is that establishing a budget is essential to gain control over your finances. No, we're not here to tell you to cut out all the things you enjoy. Creating a budget is about understanding your money flow and finding ways to save without sacrificing your happiness. Learn what your living expenses really are, and how much the interest rates hikes have affected you. It's about taking control of your money, rather than letting your money control you.

If spreadsheets seem daunting, use budgeting tools and apps to simplify the process and stay on top of your spending.

  • Work on saving money effectively

No matter how you look at it, saving money is the cornerstone of building wealth. But saving money doesn't have to be a painful experience, it's all about being smart and resourceful.

A good starting point is to set aside a percentage of your income each month for emergencies and future investments. Automate your savings to ensure consistency and consider opening a high-yield savings account to maximize your returns. Look at opportunities available to you to get "free money" (reward points, employer compensations, etc).

A good starting point is to open that savings account and check out our simplified guide on building an emergency fund.

  • Manage debt and improve your credit score

Debt can be overwhelming, but we're here to help you tackle it with confidence. Make a list of all your outstanding debts and approach it strategically by prioritizing the high-interest ones. From student loan debt to credit card debt, don't let these weigh you down forever, rather make a plan today that your future self will thank you for.

At the same time, work on improving your credit score by paying bills on time and not opening new credit accounts. Grab the reigns, you’re in control of your financial future.

Step 3: Explore generating additional income

Unsurprisingly, earning more money will equate to more wealth (we told you it’s not rocket science). As all-nighters are replaced with embarrassingly-sensible bedtimes, now is as good a time as any to pick up a small side hustle and generate income. It doesn’t need to earn you millions, the idea is to generate a little bit extra to accelerate your journey toward financial freedom.

  • Explore side hustles and part-time opportunities

Who says you can't have fun and make money at the same time? Here are some side hustle ideas and part-time opportunities that might align with your interests. It’s time to turn your passions into profit and allow a new income stream to make your savings account a little plumper.

  • Leverage your skills and talents for freelance work

You've got unique talents, and it's time to put them to work. Platforms like Upwork and Fiverr are great ways to gain exposure and find work that allows you to tap into your skills and find freelance opportunities that not only bring in more money but also allow you to showcase your awesomeness. Embrace entrepreneurship and transform your skills into a profitable venture.

  • Invest in personal growth for career advancement

Investing in yourself is one of the best investments you can make. Invest in your personal and professional development to boost your earning potential and open doors to exciting career advancements. 

Acquire new skills, pursue certifications, or enroll in relevant courses. Continuous learning not only amplifies your marketability but also positions you for better career prospects and greater earning power. It's time to level up.

Step 4: Investing for the future

Don’t be overwhelmed by the word “invest”. Let’s go through this together, one small step at a time. Consider this the start of your golden investment era. 

  • Understand the basics of investing

Investing doesn't have to be complicated jargon that leaves you breaking out in a sweat. Start small and familiarize yourself with the basics of investing. Learn about stocks, bonds, mutual funds, and real estate, and educate yourself on the concept of risk and reward. If in doubt, contact a financial adviser to get you started.

  • Identify suitable investment options for beginners

You don't need to be a Wall Street expert to start investing, or need to know what real estate investment trusts are for that matter (yet). Consider beginner-friendly investment options that are easy to understand and offer steady growth, like low-cost index funds or exchange-traded funds (ETFs).

A word from the wise: stay away from get-rich-quick schemes and get started investing in assets aligned with your risk tolerance and long-term goals. Get ready to dip your toes into the investment pool.

  • Diversification and risk management strategies

To minimize risk, spread your investments across different asset classes. Diversification is like having a cool umbrella that shields your portfolio from those crazy market storms. Don't forget to give your investments some love and attention from time to time. Review your strategy, do a little rebalancing dance if needed, and stay in the know about economic trends that could sway your investments.

Step 5: Overcome financial challenges

Don’t get caught off guard, navigate financial hurdles and stretch your money like a pro while still staying motivated on your wealth-building journey. Yes, it’s possible. 

  • Dealing with limited funds and unexpected expenses

Starting from scratch often means facing financial limitations. And we get it, life happens, and unexpected expenses can throw us off track. But fear not! The key step in learning how to stretch your money and navigate financial hurdles with confidence is to build an emergency fund to soften the blow when hard times hit.

The unfortunate truth is that you’re also going to have to learn how to prioritize needs over wants to make the most of your resources.

  • Set realistic expectations and stay motivated

Building wealth takes time and patience. Be sure to set realistic goals and celebrate the small victories along the way. Stay motivated by envisioning the life you want to lead and remind yourself of the long-term benefits of your small efforts today. 

  • Seek professional advice and support

Hey, we're here to guide you, but we're not financial advisors. That's why it's essential to seek professional advice when needed. A qualified financial advisor can provide you with personalized advice and help you navigate complex financial decisions, offer investment strategies tailored to your goals, and ensure you're on the right track.

Step 6: Long-term wealth building

Rome wasn't built in a day, and neither will your financial wealth. 

  • Set long-term financial goals

Picture your dream life and let's make it a reality. Define your long-term financial goals, like buying a house, planning for a comfortable retirement, or starting a business, and break them down into achievable milestones. Then develop a roadmap to reach them. As you hit the milestones and manage the ebb and flow of life, be sure to regularly review and adjust your goals along the way.

  • Retirement planning and saving strategies

Retirement might seem far away, but it's never too early to start preparing for it. Take advantage of compound interest and explore strategies for retirement savings that make sense for your current situation, like a retirement account or participating in employer-sponsored retirement plans (particularly ones that offer tax relief).

Be sure to maximize contributions to these accounts whenever possible and look into tax-efficient investment funds. Let's ensure your golden years are as golden as can be.

  • Reviewing and adjusting your financial plan periodically

Flexibility is key to your financial journey. Regularly review your budget, investment account, and progress as you move confidently toward your goals. Make necessary adjustments to your investment strategy to stay on track and seize new opportunities that align with your evolving financial situation. Life changes, and so should your financial plan. Keep it adaptable and exciting.

Final thought

Starting from €0 in your thirties may seem challenging, but with the right mindset, knowledge, and practical steps, you can embark on a fulfilling financial journey. By budgeting effectively, saving diligently, generating additional income, investing wisely, and overcoming obstacles, you can build a solid foundation for long-term wealth and financial security. 

While it's no walk in the park, it’s not rocket science. Empower yourself with the tools and resources available, and remember that every step you take today brings you closer to a brighter financial future and fuller savings account.


This article is for general information purposes only and is not intended to constitute legal or other professional advice or a recommendation of any kind whatsoever and should not be relied upon or treated as a substitute for specific advice relevant to particular circumstances. We make no warranties, representations or undertakings about any of the content of this article (including, without limitation, as to the quality, accuracy, completeness or fitness for any particular purpose of such content), or any content of any other material referred to or accessed by hyperlinks through this article. We make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up-to-date.


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