Turning 30 is a milestone in many ways, particularly when it comes to finances. This is a critical time in your life because the decisions and moves you make in your 30s will play a major role in propelling you toward financial success in your retirement years. Freedom Debt Relief shares few tips millennials should follow to achieve the financial success they’re looking for.

Live below your means.

It’s not enough to live at or just a little below your means. If you want to build real wealth, you’ll have to create a bigger gap between your spending and your income. This gives you more money you can grow through saving and investing, says Freedom Debt Relief. While you may be tempted to spend more money to keep up with social media appearances, you have to resist this urge and focus on your long-term goals.

Track your spending.

There are two ways to create a bigger gap between your spending and your income. One way is to increase your income. The other, sometimes easier way, is to decrease your spending. Tracking your spending is the best way to figure out the places in your current spending that you can cut back.

There are apps and computer software you can connect to your checking account to track your spending. Freedom Debt Relief reminds that you can also go the old-fashioned route and write down all your spending for a week or two, then analyze your purchases and figure out where you can cut back.

Save a percentage of your income.

It’s a mistake to focus on saving a dollar amount rather than saving a percentage of your income. What happens is that as your income increases, you may continue saving that specific dollar amount rather than increasing your savings commensurate with what you’re earning. It also works the other way around. If your income falls, your savings amount will also drop since it’s based on a percentage of your income.

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Diversify your investments.

The saying, “Never put all your eggs in one basket” was never truer than when it comes to investing. You should never put all your money into the same type of investments. It’s better to spread your money among stocks, bonds, mutual funds, ETFs, and other types of accounts, recommends Freedom Debt Relief. Not only should you diversify the types of investments you have, you should also diversify where you put your money. Take advantage of your employer’s 401(k), an IRA, brokerage accounts, real estate, and money market accounts.

It is essential that you find real estate agents that you trust before you start to dive into the world of real estate investments. Real estate makes one of the most financially sound investments and ideal for diversification. This is due to the fact that by the time the mortgage is paid down, many people are coming into retirement. Investors often consider real estate to be long term savings pots that start to payout at a later date.

Use a financial advisor as needed.

You may not be able to make all the right financial decisions on your own. That’s ok. That’s where a professional financial advisor can help you. A good financial advisor will consult with you on your financial goals. They’ll take the time to understand your current concerns. They’ll be able to answer any questions about have about money management or financial products. They can help you create a plan to reach your goals based on your current financial situation.

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Don’t make your finances complicated.

The path to financial success isn’t as complicated as it might seem. The simpler you keep your finances, the easier it will be to achieve your goals. And here’s some more good news: even if your finances become complicated or difficult to manage, you can correct the situation by getting back to the basics.

Maintain good spending and savings habits, no matter what happens with your income. Always seek the best financial advice and knowledge, whether that’s through books, magazines, websites, or a professional. Finally, Freedom Debt Relief recommends you watch out for scams. There are individuals who spend their days working to trick people out of their financial or personal information. Be on guard for scams and trust your instincts.