3 Money Habits Financial Expert Tori Dunlap Is Changing in Her 30s

Tori Dunlap is a financial influencer who’s written several books and hosts the podcast Financial Feminist. In a recent episode, Dunlap shared three money habits she’s changing as she gets into her 30s. Here’s what those are and how adopting them might improve your financial life, too.

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1. Prioritize Health Investments First

Dunlap said, “I will always say that your financial goals should be about protecting current you and future you.” Part of that, she’s realizing more and more as she ages, is investing in health.

For Dunlap, investing in health looks like:

• Hiring a personal trainer

• Making more conscious decisions about sleep (such as buying a nicer bed)

• Spending more on wellness-promoting foods, supplements and activities

If those things don’t sound like priorities to you, consider this — Americans 65 and older have annual average health costs of $11,300. Spending a little more now could help you avoid some of those charges down the line by keeping you healthier for longer.

See More: I’m a Millennial in Great Financial Shape — 11 Steps I Took To Get Here

2. Financial Legacy Planning

Dunlap is also focusing more on financial legacy planning as she moves deeper into her 30s. For her, that’s meant creating a will and investing in life insurance.

Wills are legal documents that ensure your assets are distributed according to your wishes. Having one is especially important if you’re doing well financially and want to make sure your children and other loved ones will be looked after. But everyone can benefit from having a will if they own assets they care about distributing in a particular manner.

Life insurance is a smart bet for parents with children. It’s also great to have if you’re married or in a long-term relationship. If something happens to you, your life insurance payout will help the people you care about move forward.

Other financial experts have slightly different takes. For example, Dave Ramsey has said you only need life insurance if you have people depending on your income. You may want to do more research if you’re unsure whether a policy is right for you.

3. Set Financial Boundaries

Finally, Dunlap said she’s setting more financial boundaries in her 30s. She talks about how many of us spend our 20s trying to impress others. Your 30s, according to Dunlap, should be about “impressing yourself.”

Your 30s can be a good time to reconsider your full financial picture. For example, you might ask yourself questions like:

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• How much money do I really need to live on?

• How much am I spending on unnecessary luxuries?

• Why am I buying those things, and who are they meant to impress?

• Could I shift some of that spending into an area that will benefit me more in the future?

It can be tough to change long-standing spending habits overnight. So, don’t beat yourself up if you struggle initially. The key is to simply stick with it. As long as you do that, your 30s should be a great decade for you financially.

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