Spending habits of youth! And learn how to save money by spending it smartly.

Like they say “youth is the future of the nation”. Certainly, our future aspirants have a lot to choose from. A lifestyle for example! That’s the hard one, right?

We all feel unsettled and sort of stationary living a same paced life. We often try a couple of things. We indulge in short living joyful activities like hanging out in a club, bar, going for unplanned holidays movies, concert or just shopping. To make ourselves feel better and enjoy a little while doing so. We go to cafes and restaurant that we like to call ‘someplace good’.

You go there and take fancy pictures to make your Instagram friends/followers jealous of your extravagant lifestyle. Well it sounds perfectly normal!

We want to rephrase a dialogue by Anthony Hopkins here... “These fancy delights will have a fancy bill.”

Collectively, millennials have attracted a lot of criticism. We’re terrible to socialize with different age groups, we are used to of like-minded peeps.
And we don’t really wanna start up a thing with the smartphone obsession here.

Above all, millennials are terrible savers too, that’s a fact though.

Anyway, Spending is not an issue! Yes, that’s right. It’s never been.

Only if you are smart enough to monitor it. You gotta plan it. Again, it’s not hard. All you need is a mind-set first of all.
Avoid thinking money saving techniques as restrictive or self-limiting. Because it’s not. You don’t have to stop spending altogether!
It’s just the matter of prioritizing your financial goals over others. Simple!

Here are some tips that will really help you in saving some money!

Make a budget

Ready to get started? Apply 50/30/20 budget for smart money management. Devote 50% of your income to basic necessities, 30% to wants and 20% to savings. If you find one of your allocations exceeds these percentages, make some adjustments to fit the formula.

Set saving goals for yourself

You know what; let’s talk about motivation a little bit. Think of all the things that you wanna buy be it shiny new pair of sneakers, a leather jacket, a custom motorcycle, great piece of technology, a guitar or whatever you may. Stick to your budget. Keep yourself on a right track and soon you’ll learn it. Pretty sure that you’ve heard of the saying... “What you reap is what you sow” well, if you haven’t then it’s okay, you’re a millennial after all. And in case if you have then, you’re a person of roots, we must say!

Track the money that you spend

Get a true picture of where your money goes today by keeping track of your monthly cash flow. Your income minus your expenditures. This will also make it easier to mark progress toward your saving goal. It’s even easier with the number of apps these days, which will help you doing so.

Map out major purchases

Time your purchase of appliances, furniture, electronics or anything expensive according to annual sale periods. Don’t buy anything hastily, either. Always wait a day or two before buying to curb buyer’s remorse.

Save money that you spend on entertainment

We know that you can’t stop going to movies and concerts! But with a little bit of awareness and discipline you can get the tickets at discounted price. Keep looking at the calendar. Be an early bird!

Cook your own food

It’s really a fantastic thing to do and on top of that it has unbelievable perks too. You’ll get food whenever you want! Your cooking skills will improve with some time. Can save some money by refraining to order food, or frequently visiting restaurants. The best is you can impress people!

See we’ve told you so many ways to do it! But that’s not all.
You can go ahead and check more ways on the internet, before you actually start SAVING!

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