Ah! The joy of having your own money. Feels on top of the world, doesn’t it? Millennials are spending an insane amount of money on lifestyle habits. They are well connected through technology and that makes it easy for them to make plans, get information and splurge. While the live in the moment attitude justifies the expenses, you could really use some smart spending hacks. Here are few things you could do:
1. Before buying clothes, stop and think, do I really need it.
2. Gadgets are expensive. Before upgrading consider if you should just wait for the next version.
3. Don’t indulge in impulse buying. The knick-knacks near the payment aisle are tempting.
4. Pay your bills when you get them. The late fees are a 20 – 25% surplus.
5. Keep minimum money in your wallet. If you don’t have it, you won’t spend it.
6. Time your beauty/spa treatments around occasions. That way you kill two birds with one bullet.
7. Learn the art of ordering food so you save on combos.
8. Split bills wherever possible. Sharing is saving!
9. Take advantage of automatic deductions. Set standing instructions for the day after your payday so it’s invested before you know.
10. Take advantage of coupons and promotional codes. Even 10% off is good enough.
Set goals for yourself. Paying attention to these small things now would mean nothing having money to do something more worthwhile like investing in mutual funds. Implement these hacks ASAP and you’ll see the difference on your own.