Most likely you have worked for a while now, somewhere between 5-10 years, and if possibly even more than that, if you haven’t gone to college or university. What happens most likely is that you have saved up some money, and maybe made more money in your life as well, which is good of course, but what happens with more money, also means a bigger spending budget as well.

Once you reach your thirties, your income has risen, but your spending rises as well…

And these are the 6 money mistakes you can be making in your 30s, so be sure to avoid these if possibe.

1. Buying a car that is too expensive, most people just look at the purchase price, and not at the maintaince and devaluation price as well. If the purchase price is already a stretch, then maintaining the car will be difficult. The calculation states to not spend more than 10% of your whole income, on maintaining and purchasing the car. Or, once you become a billionaire, you could be like steve jobs who just bought a new car every 6 months, but then again.. That’s a whole new level of being rich and spending money :)

2. Buying a home that is out of your range. Your mortgage is not the only payment you need to do for a home, how about costs like maintainance and repairs. Or doing the garden, and furnishing the home. Most people spend about 30% of their income on their mortgage… So let alone if your home is too expensive… Your budget will be gone by the end of the month before you are able to invest any of the money

3. Spending too much, in general, you know what is so interesting, in all the people I meet and coach… When your income rises, it is automatically that your spending goes up as well. Think about it, when you go out and have dinner… You justify yourself by saying… We’ve got more to spend, because of our higher income, let’s just do it. At that moment, you don’t think about if you have or do not have enough, but at the end of the month, it is always too little. Let me ask you a question, how is your spouse/life partner… Is (s)he is great spender.. Or are you?

4. Having no financial goals. One of the big problems is that you have life goals, goals for certain projects, but when we talk about money, most people don’t really have a specific goal for money. So… What will happen with your money? Most likely… Nothing special… You just make it, and just spend it like that… Nothing more, nothing less. This is why it is important to have a financial goal, know what you want to do with your income, be it active income or passive income, but make a choice what you want to do with the money. If you want to save up for a holiday, then do that. If you want to travel the world, do that, if you want to be financially free, make that your financial goal!

5. Not investing your money. If you have made this mistake in your 20s… Then this is now the time to really start investing. If you start at the age of 30, and investing on average with 7% return on investment, and do that until you retire at the age of 65. Then still you can make one million dollars.

6. Being stuck at a job. If there is no more outcome in your job, switch jobs, you are in your prime of your life, this is the time, this is your moment! If you want to be financially free, take action now!