Welcome to day two in a series rehashing MoneySense’s Rich At Any Age - A LifeCycle Guide To Personal Finance. We discussed starting out in your 20s. We will be observing the financial journey that people in their 30s undergo. As before, we will supplement it with related articles from MoneySense.ca

The Crammed Years
The balance sheet for your 30s looks pretty lopsided: heavy on the debt, stress and responsibility; light on the free time. If you’re like many people in their 30s, you’re juggling mortgage payments, a young family and a demanding job. Your financial plan needs to address some important questions.

Can you live on a reduced income while one partner stays home when the kids are young? How much will you need to put aside each month to help your children afford a university education? Are you using debt wisely to make sure the money you’re borrowing is building your net worth? And, while you may not want to think about it, have you created a safety net to ensure your family will be looked after if something happens to you? Most importantly, you’ll want a financial plan that accomplishes all your goals without constant tinkering.

Related MoneySense Articles

• Eternity Leave - Mary Teresa Bitti
• A Matter Of Degree - Allan Britnell
• Rest Insured - Duncan Hood
• Borrowing Time - Mary Teresa Bitti

Come back tomorrow when we show you what goes on in your 40s!