Millennials, listen up! Apply these 7 hacks to save more money in 2017
Regardless of what you promised to change or improve in 2017 as part of your new year’s resolution, there is no better time to start saving money than today. Sure, your financial capability may be solid now, but it is never a bad idea to get some of it set aside as savings.
You probably have experienced in your life how a bad situation is made worse especially when you are strapped for cash. Having some emergency funds ready will definitely make the situation far less unbearable. You will get sick – those late-night cramming will come to haunt you; your phone or your computer will crash and you will need a replacement; the apartment you are paying for will increase its rent. These are just some of the many instances in life that just happen for no reason and it is important that you are financially ready for them when they come. And oftentimes, they will as a surprise.
With no further ado, we have compiled some of the best money-saving tips, tricks, and hacks that you can try and apply this year to achieve a comfortable financial setup.
Sell the stuff you no longer use
Most millennials, especially those who are the youngest in the family, have things that are handed down to them by their older siblings. They could very well possess archaic gadgets such as old Nokia phones that are no longer being used, oversized college jackets, and pants that are no longer in trend nowadays. Selling these stuff only benefits you because, one, you will free up storage space and, two, you can basically earn money just by getting rid of things you do not use or no longer like. It is totally a win-win situation for you. Just don’t get too sentimental as you are boxing them up.
Download apps to track your finances
Your phone is always with you 24/7—day in and day out—that it seems like your smartphone is already an extension of your arm. Make good use of it by downloading an app, like Mint, to track your spending. Budgeting is the essence to save more money, though many people sometimes find it hard to do. By downloading an app to track your budget, crucial financial decisions will be made easier as you can tell if you are well above your available limit or not. Will you still be able to eat for two weeks if you purchase those shoes? No, then look away and leave.
Learn how to invest in Binary Options
More and more people have been getting into binary options trading nowadays. If you have extra money, you may start to trade and invest without having to leave your house. Compared to other forms of trading, binary options is easier to understand and it gives you the possibility of earning in 60 seconds.
Collect those discount coupons
Your weekend newspapers have a dedicated sections wherein it gives you great discounts for many things. Collect these coupons because you will never know when they will become handy. You will save more if you buy important items by the bulk, things that are used almost every day like sugar, toilet paper, coffee, etc. If you always do this wise grocery shopping technique, you will notice how much you are actually saving compared to buying individual items on their regular prices.
Love the public transportation system
Owning a car nowadays offers convenience above all. You are able to get to another place in your own time and pace without the fear of bumping into an ex or sitting beside someone who smells like he hasn’t bathed in a week. But, more than convenience, owning a car also gives you additional expenses such as maintenance and repair, gas, etc. We recommend that, starting today, you should appreciate the sometimes effective public transport system. Get on a bus or a train on your way to school or work. It will cost you less, but be sure to allot extra time because buses can get late, too. Do you know what makes a public commute more enjoyable? Make a commute playlist on Spotify and listen to your favorites while you look out on the bus window.
Stay in on weekends
Did you know that you will save a ton of money only by staying at home during the weekends? On weekends, all types of financial temptations – overpriced coffee and liquors, weekend sales at the mall, bad movies in the cinema, and many more. You can use this free time at home improving on your skills and probably doing what you really love without having to shell out a ton of cash. You may want to continue writing that draft for a book or start binge-watching a really interesting television series on Netflix. Start appreciating your me-time: it is fun and, most importantly, it is always free!
Plan early for big purchases
Buying those cute red shoes out of impulse could probably be fun; but it is not always good for your budget. If you are hell-bent on saving more money this 2017, you must plan your big purchases early and ahead of time. You may want to start getting those holiday gifts as early as June because it saves you a lot of money. Planning to redecorate your living room for Christmas? Buy your decors as early as March. These items are on sale during off-peak season, and buying these will less likely to give you a headache because for you, not everyone will be buying a Christmas tree ornaments in July.
These are just seven of the many things you can do to save more money this year. Be sure that you are committed to the cause and that you are really serious about it. We hope that you can apply these tips in your life so you can achieve your financial freedom. Do you have tips that work for you? Share them by leaving a comment down below. We would love to hear from you!