As we get older, we often think about what we’d say to our younger selves, who are just starting out on the path to adulthood. With no commitments like a mortgage or children to tie us down, we could spend money the way we wanted to spend it. However, we also realise that later in life, we want to settle down, buy a home and maybe have a family. And for all of this you need money. So how can you save money but still enjoy your youth?
Use Apps To Track Your Spending
You as a generation, have likely grown up with a phone or iPad in your hand since the moment you were born. Technology is incredible and the progress that’s been made since the internet came about, has been phenomenal. If you want to save money but don’t know where it’s all going, you can track your spending habits with an app.
Some of the best money saving apps can calculate all your outgoings to show you just how much you’re spending each day, week or month. With these apps, you can even set a budget so that it limits the amount you spend. Great if you want to put some money aside each month. Do you really need that Pumpkin Spiced Latte every day? Or would you rather save up for the trip of your lifetime?
Cut Down On The Luxuries
It may have seemed like a good thing at the time, but maybe that expensive gym membership wasn’t such a great idea, seeing as you only use it once a month. Luxuries like these can end up sucking all of your money out every month that you forget it ever existed. It’s not until you cancel them or cut back on this spend, that you notice just how much money you’re spending.
If it’s possible, freeze the gym membership until you start committing to it and cut down on big shopping sprees and that chocolate bar you have every day, while on the way to work. It’s not doing any favours for your health or wallet. Me and my friends sometimes do “swap meetings”. Each of us brings clothes we no longer like and simply swap with the ones we do like. It is fun and profitable at the same time.
Have A Goal
Goals are great for everything in life, and they help motivate you to work hard and resist temptation. Set a goal for yourself to help you spend less. It might be a small amount per week, or you might want a figure that you want to have saved within a year. Having savings is important not only for the future but for whenever an emergency might pop up, and you need money quickly. Or just get yourself a “swearing jar” and put a dollar in it every time you swear. Trust me one this. My partner earned me a trip to Germany this way.
Make Money At Home
There are now several ways you can actually make money from home. Starting a blog has financial benefits in the long run, and there’s now plenty of online survey sites that pay you dollar for filling in a survey. These surveys can vary in length but the more niche of a subject it is, the bigger the payout. With all this time spent at home, you’ll probably save money because you’re not going out!
You may not want to save money when you’re in your twenties, but your older self will certainly thank you for it.
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