Sunday, February 26, 2017

10 Tips to save money | For young people

Are you young, just finished college, with students loans to pay off or currently in a unpaid internship and desperately ready to save money?
These are 10 very easily to follow tips, that will save you hundreds of dollars/euros a monta

  1.  Create a budget
If you do not have one yet, this is the first step to know how much money is coming in and how much is going out. Figure out your income (the salary of your day job plus side jobs) and your outcome (rent, gas, loans, car, savings).
2.  Save automatically
Set your bank account to transfer the amount of money you define, automatically to your savings account. As you do not have access to this money you will not have the time to spend it (or miss it!).
   3. Learn how to cook
How much money do you spent eating out? In Portugal, where I live, you spent an average of 15€/person for a full meal (aperitives,main plate, dessert and drink). With this amount of money you can cook a meal for two and use the left overs to the next meal.
4. Take lunch from home
If your workplace of college do not offer cheap or free options that you can use, choose to bring your lunch from home - this will allow you not only to save money but also to healthier, as you skip the cheap but unhealthy fast food meals.
5. Low cost dates
Instead of a fancy dinner out why not a trip to the cinema, or the museum, or a viewpoint, or a free workshop?
6. Shop Smart
Pay attention to you supermarket promotions; become a member and get freebies; buy products when close to their expiration date (half the price same quality).Do not buy products you do not need just because they are in sale.
7. Invest
Invest in clothing essentials (like a nice suit, a blazer, shoes). Good quality itens last for a long time, and as it gives you a polished look, will save you a lot money from buying a pair of shoes every two months, for example.
8. Pay with cash
Using your credit card is spending money faster than you earn it, with debit card you do not really "see" your money leaving, however, with cash you think twice before handing out a bill of 20 right?
9. Live by your means
There is no point in showing off, if you will regret it later. For example why would you buy an expensive gadget to be the first of your friends to have it and than eat sandwiches the rest of the month?
Quit showing off and start working for the lifestyle you want to achieve.
10. Recicle
Those pair of jeans that look old and used? Use a scissor to cut them into shorts size, fold the ends and BAM, you got yourself vintage shorts.
That jacket your mom has been keeping storaged in the attic since she gave birth to you? Have it tailored to your size and wear it as a statement piece.
Concluding, when on a budget the buzz word is TO BE CREATIVE, this will be saving you a lot of money and on top of that you can call it a new trend!
Do you have any other tip to share? Leave it the comment below.
Millennial Shatterbelt


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