University of Calgary

Mind & Body

Submitted by alumni on Thu, 04/13/2017 - 00:29.

Mind & Body

Each decade poses distinct challenges, which is why we turned to the experts for a road map to better health. From your 20s to your 80s, we supply you with one healthy habit per decade. Live large with this handy-guide to your well-being.
by Mike Fisher

Healthy Habit for Your 30s:
Plan for Prosperity


Your 30s will likely be one of the most financially demanding decades of your life.

With Canadian household debt ratios hitting record highs, it is particularly important for young income earners to take control of their finances and implement smart financial habits.

Here’s how:

  • Prepare a plan that outlines your financial goals, and set a budget that will track how much money you’ll have coming in and going out. Doing so will help prioritize your spending and manage your money.
  • Spend less than you earn.
  • Pay down debt. Make it one of your top priorities. Pay down your most expensive debt first.
  • Develop the habit of saving. Set up an automatic transfer of 10 per cent of your income into a separate savings account.
  • Make the most of tax-advantaged accounts such as TFSAs, RESPs and RRSPs.
  • Focus on accumulating diversified assets including stocks, bonds and real estate over the longer term.
  • Remember, it is never too early to start preparing for your retirement.

Sarine Mustapha, BComm’00, senior vice president and associate portfolio manager with BMO Nesbitt Burns. She serves on the Dean’s Management Advisory Council at the Haskayne School of Business.