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By the time you start hitting the late twenties and see ahead of the thirties, a lot of decisions need to be made. Being considered as a milestone, a lot of people by their 30s try and stabilize their financial lives as much as possible and plan for the remaining.
Here is a list of 7 financial decisions you must consider before you enter the 30s;

1 Invest and understand compounding
The first and foremost thing you must know is the power of compounding. This works like magic to your investment portfolio. Go to online calculators to understand what amount you will get after a certain number of years if you start early and do not withdraw your investments.
Even if you are able to take out Rs. 1000 per month, start today.

2 Owning a home or renting
Owning a home is considered to be a big milestone in one’s life but that is a major form of emotional investing. Before you make this life-altering decision of buying or renting, ask yourself do you really need a house?
Most people associate owning a house to social stature, do not be an emotional fool while dealing with such a big investment especially when you will be taking a home loan.

3 Insurance
The next important thing to consider is to get yourself insured. While you enter your 30s, your body also starts behaving differently, however fitness enthusiast you may be, aging has its own pros and cons.
Given how unpredictable life is, it is important that we get ourselves insured so that during the unfortunate times, our loved ones are not left wondering and clueless.
Also, of all the available insurances, two are crucial, health and life insurance.

4 Work out your emergency fund asap
Before you invest, it is important that you secure the first 6 months if any dip takes place. Also, it will give you a lot of confidence when you know you have saved enough corpus to feed yourself for 6 months.
One thing you need to pledge is not to use these funds until and unless there is an actual emergency.

5 Upgrade yourself
This is a life long process as there is always a scope for improvement and learning more but by the time you enter your 30s, you must work on developing a passive source of income or upgrade your skills so much that your current job pays you off really well.
Only saving may not work in the near future as living expenses are shooting high. You need to work hard as an individual and as a family too.

6 Plan your retirement
For people who have just started working or have been working only for a few years, retirement might seem quite far away and they keep delaying saving for it. Planning early is far better than being unprepared when you retire.
It is high time that you start planning for your retirement and save for it as soon as possible.

7 Become debt-free
If you have any loans like education loans, car loans, personal loans, etc, this is the time you need to start clearing off your debts. Even if you are not able to get rid of it instantly, start minimizing it. Whenever you get a bonus or hike, make sure you pay off your debts.