Lifestyle June 18, 2018
Save your money. Save your life.
Money saving tips are important lessons that we should learn throughout life, but especially as recent college graduates. When you’re fresh out of college, the freedom of young adulthood is exhilarating. But this excitement is soon met with another feeling: the emptiness of our pockets!
It’s that in-between time during your late teens and early twenties that you should start thinking about saving money. Yes, I know you’ve been dying to get your hands on that handbag from Target, but having money in the bank is more important than having that new bag on your arm.
You want to have a solid foundation set in place by the time you’re 25. This way when you finally land your dream job you already know how to maximize your money! Here are some crucial money saving tips you should know before hitting the big 2-5.
Budget! I cannot stress how important it is to put yourself on a budget. Don’t go out and buy your favorite things as soon as that paycheck rolls in. When you get your first job you need to know how to budget yourself every month and stick to it.
This is one of the best money saving tips you can incorporate into your life. Knowing how to cook saves you big money because it cuts down how often you go out to eat. Buy groceries once and you’ll eat for weeks, buy take-out once and you’ll eat for a day!
This should be at the top of your money saving tips list. Opening a savings account when you’re young means you’ll be prepared for any type of emergency that may pop up in the future. Use the checking account for immediate needs like rent, groceries and going out with friends. Use the savings account for long-term goals. Putting away a little bit of your paycheck every month will condition you to save when you’re older.
It’s okay to say no every once in a while. You won’t miss out on life by staying in sometimes. There’s plenty of ways you can have fun without paying a dime like having your own photoshoot, going to a free museum or zoo, or starting a blog.
Thrift shopping is the number one way to curb expensive clothes shopping! You don’t have to pay designer prices to wear designer clothes. Plus you might find other neat things in thrift stores like stylish chairs, keychains and shoes. Look good without going broke, girl!
Contrary to popular belief, you don’t have to take out loans in order to afford college. There are a plethora of other ways to pay your way, such as part-time jobs, scholarships, grants, or more affordable schools—nothing is impossible.
Learning how to be content with what you have is a necessary life skill for everyone. When you learn how to be happy with what you have, you’re less likely to want new things and so less likely to spend money.
I’m not saying go get a credit card as soon as you as you can. You have to be careful with those things! However, it is smart to start learning about credit now and begin building it early. Start building credit while you’re in college. Have your parents or someone else you trust to guide you. Make sure you don’t buy anything you can’t pay off as soon as possible and limit what you put on that credit card.
