Financial Moves to Make as a Parent in Your Thirties

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Being a parent in your thirties may have always been a part of your life plans. However, as a parent, it’s important to make sure that you’re making the right financial moves to help secure not only your own financial future but your kid’s financial future as well. 

Even though I started off as a young parent and have always had different financial goals set each year, when I turned thirty I realized it was time for me to add in some more goals to ensure the kids are starting off adulthood on the right foot and will be okay when I am no longer around.

So, here are my recommendations for financial moves to make as a parent in your thirties (if you haven’t already done these things already). 

Financial Moves to Make as a Parent in Your Thirties

Purchase life insurance 

With the way the world is today, it’s more important than ever to make sure that everyone in your home has life insurance. 

I typically start the kids off on life insurance as soon as they are born, but I haven’t really been consistent with having life insurance for myself until recently. 

Life insurance is one of the most important financial moves to make as a parent in your thirties because you want to make sure that your kids aren’t starting off their adult lives with debt and a ton of expenses if you die unexpectedly. Plus, life insurance gives them the time they need to grieve as they don’t have to worry about how your funeral expenses will be covered.

Obviously, no one likes to think about dying, but the reality is we’re all going to die someday. And we don’t want to leave our children with debt and other expenses when we do. 

Purchasing life insurance isn’t hard, time-consuming, or expensive either. You can get life insurance quotes in less than 5 minutes and depending on the type of life insurance you decide to go with you can pay less than $50 per month and qualify without having to get a medical exam.

Basically, the only thing you have to decide is whether you want to go with term life insurance or whole life insurance. Term life insurance quotes and whole life insurance quotes can both be obtained online. Whole life insurance is a bit more per month, but it lasts you a lifetime, while term life insurance usually lasts for a maximum of 30 years. 

Nerd Wallet created a life insurance guide that can help you decide which life insurance option is best for you. 

Purchase a house

Thirty is the perfect age to purchase a house. 

I’ve had becoming a homeowner by the age of 30 as one of my goals since my early twenties and I was able to check that goal off my list only 6 months after I turned 30. 

Purchasing a home is one of the financial moves I suggest making as a parent in your thirties because by this time you’re probably financially stable and have determined the area where you want your kids to grow up. 

Depending on the price of your home, you’ll probably have it paid off within 15 – 30 years, which gives the kids time to start their lives and always have a place to come back to while you can also prepare to comfortably retire without having to worry about one bill (rent/mortgage).

Plus, once it’s paid off it could remain a family home or if the kids find themselves in financial trouble in the future they could turn it into a rental property or even sell it to get a hold of some cash. 

Besides, who wants to deal with the hassle of renting anyways? With homeownership, you don’t have to worry about someone telling you it’s time to move or making a monthly payment each month on something that will never be yours. 

See Also: Things to do to Save Money Your First Year as a Homeowner 

Start a retirement fund

As parents, it’s easy to find ourselves constantly spending money and not saving as much as we should. From adding money to an emergency fund to saving for the kid’s college, it’s easy to put retirement funds on the back burner (especially if you’re self-employed and don’t have the retirement fund option through your job). 

However, one day, the kids are going to grow up, move out, and start families of their own, AND you’re not going to want OR need to work as hard anymore. But, if you haven’t started a fund for your retirement you may find yourself having to work much longer into your golden years. 

Starting a retirement fund could mean starting an IRA or 401(k) or it could be as simple as stashing some money into a savings account that you won’t touch until retirement. For others, it’s creating an investment portfolio.

You can do whatever type of retirement fund that works for you, just make sure that if you haven’t started one by 30 that you get one started right away. 

Create a will 

According to Legal Zoom, as many as 60% of Americans don’t have a will, despite the number of people creating detailed wills increasing due to the COVID 19 pandemic. 

While understandably thinking about dying is unpleasant, as a parent, you do not want to pass away and not have a detailed will available for your children.

If you die without a will probate court will then decide what happens to your property. This means that the home you purchased and any savings you have may not go to whom you wish. 

However, with an app such as Fabric, you’re able to plan for the unpredictable for free in about 5 minutes or less AND even make it legally binding. 

This will give you peace of mind knowing that there will be no chaos surrounding who is to get what when you pass away. Plus, if your children are still underage when something happens to you, you can make it clear who you want their legal guardian to be. 

Make a debt payoff plan

You’ve probably already made all of the major purchases that you’re going to make in your thirties (i.e. house and/or home improvements and education). So now it’s time to work on making a plan to become debt-free before retirement. 

These are the years to spend paying off your student loans and mortgage so when it’s time to retire you don’t have any major bills and are able to take some time for yourself to relax once your children are off on their own.  

These are the financial moves to make as a parent in your thirties

You still have plenty of life to live in your thirties, but it is time to start getting serious about planning for your future if you haven’t started already. 

By making these money moves you’re able to have peace of mind knowing that your children will be okay during adulthood and that you’ll be able to relax during your golden years.

What financial moves did you make in your thirties?

Financial Moves to Make as a Parent in Your Thirties


  1. Ruth I says:

    It’s really a pressure choice specially in this type of situation. I’m slowly getting there. The tips are really helpful!

  2. Lynndee says:

    Great tips! Having a Will and or Trust is important. We just did it a few weeks ago.

  3. Louisa says:

    All these are extremely important. Another thing I would say is prioritize healthy living

  4. These are really a great plan to have and to do upon the age of 30’s for younger parents now.

  5. Ivan M. Jose says:

    Thanks for these eye-openers. It’s sad to say that I’m already 40 but I don’t have my own house yet.

  6. Scarlett Brooklyn says:

    I agree to all your points. You can never say when you’ll be gone so it’s better to be prepared for it. And make sure that the one we’ll left behind are at ease too.

  7. Tara Pittman says:

    These are good moves for any age. I bought my first home at age 26 but did not start saving for retirement until 50.

  8. Richelle Milar says:

    I’m so grateful that I have my insurance and a house. What I needed to do is to plan my retirement + make a debt pay-off plan. Thanks for this good reminder.

  9. Kelli A says:

    We have been slowly doing these over the years. I was never sure when a good time for these are but realize I should have started a lot earlier in life.

  10. Tasheena says:

    This post is really informative, Thanks for sharing these tips.

  11. Amber Myers says:

    I like this list. We are trying to pay off the debt. Right now it’s just the house.

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