It is not a secret when you enter in your 20’s, money has a whole new meaning into it. In these years, we talk about investment of $1000 when we are just earning $100… In our 20’s we are that crazy as well as energetic. 🙂 I still remember my 12 old Birthday and I got a 100 INR as my Birthday Gift, it was definitely a jackpot for me to buy an expensive chocolate. As we grow older, we realize money is very precious as it can fulfill needs. Whether it is your own apartment, a car, a ticket to abroad or a sudden obstacle life throws at us…money actually matters a lot and then we understand the importance of saving money. So, I have got 3 ultimate personal finance tips to save money in our 20’s and establish a secured financial future. I firmly believe that everyone should have a financially balanced life by doing what they love…and that is called a happy life!!
Finance Tip#1 : A Savings Account
A Saving Account in your 20’s can save your life. Seriously….If you have one, you are one step ahead and if you don’t, you definitely need one. Now I am 21 and feels like…why…why nobody told me when I was 15 and broke my piggy bank. I started it two years back I have already bought some of my pre-planned essentials with my saved money : One is my Self Hosting and Domain and another is a Digital Camera : Canon1300d for my Blogging Works. This finance tip can organize your finances and avoids sudden slack on your pre-plannings.
How Can You Make Your Account Moving
For a successful Saving account that can secure your future, you need to follow some organized habit. To add money in your account, I strongly recommend to set up a weekly or monthly Money Saving Challenge. If you have a job, you can keep an amount aside every Day according to your Challenge. A few dollar daily doesn’t look like much but at the end of the month, I promise…..it will look like a mountain and you will thank yourself for opting this idea. This finance tip for a secure future has helped me a lot. If you are a college student like me and want to buy your own, travel your own….Heck yeah!! You need to check how do I earn money in my Free time and travel my own. I have included ways to earn money along with ultimate guide to walk you through.
I transformed My own Freelancing strategies into a step-by-step guide and I am so happy that it helped my readers :).
Something you may enjoy :
And another thing, never and ever spend a single penny from that account just to buy a simple dress or a shoes….unless it is something very urgent. If you need to spend an amount from your savings account, try to compensate it as soon as possible by putting a little extra amount into it.
Let’s do this together : Weekly Money Saving Challenge- $112
I have made a Weekly Saving Challenge+ Money Saving Planner to organize my finance. The challenge aims to save $112 at the end of the week… Isn’t it a great effortless amount?? Let’s make this happen…Organize your finance in a printable- disciplined way.
OMG!!! It’s like a dream comes true!! Are you excited??
I am going to follow this “Money Saving Challenge” from today only… Currently I have a short term goal as there are only few days left for Valentine’2018 and I definitely want to save some extra money to buy a great perfume for him… :).. And I am sure you have some secret surprise too…
Valentine Shopping : Yayy!!! I got a Affordable Valentine Shopping Check-list on Maven. I have made this board Get Ready For Valentine with 150+ Red Dresses, heels & Gorgeous products to make things easy..Yes, now you can just click on the product and purchase from 1000 of your favorite brands.
If you like my collection please hit the “Love” button!! 🙂
Do you want to build a similar Shopping board like this??
Shop with Cashback Sites
Every month we have a long list of “must-buy” product list… be it our groceries or a digital product, we have to spend many dollars into it. In fact if we count the amount we spend in Walmart or Amazon every year….it is big….a real big amount. What if you get Cashback on your purchased products??…yes, it’s true….you can get cashback even up to 20% . And I really hate myself for being unaware of these awesome sites since soo long. I definitely don’t want you to spend some unnecessary extra amount while shopping just like I did…. so let’s learn about these awesome sites:
- Ebates : A site that gives cashback on your purchased items…upto 20%…sometimes 30%, 40% ,even full cashback occasionally. You can save not only on your purchased products, you can even save on your hotel bookings and Air fares. In addition with that Ebates provide $15 on every referral. Click Here to get an additional $10 discount on your purchase with Ebates.
- Swagbucks: A site from where you can earn Free Gift Cards to shop Cashless in Amazon. Well…A gems for shopaholic to enjoy shopping with Amazon Free Gift Cards. Yes, Swagbucks is the most popular site that pays you in term of Amazon Free Gift Cards while taking surveys, signing up, shopping, searching and many more. Till now, I have earned over 5000 worth of gift card from Swagbucks. Surveys do not last more than 10-15 minutes and you can earn some SB ( Swagbucks ) to grab Free Amazon Gift Card.
Walk on budget and cut extra spending:
If you are on a path of saving money, you must walk on budget. As a college student I take a fixed amount each month and try to cover up all my spending within it….rest go to my Savings account. If sometime I need to buy something extra I try to recover that doing some additional work. Please check out How I earned some extra money during last Christmas.
Again, cutting down some unnecessary spending can enlarge your savings account. Here are some ways I use to narrow down my monthly budget:
- Dine in, not out…as far as you can.
- E-books are cheaper than physical ones. Being an engineering student I need lot of books in a single semester, that’s why I prefer Kindle. It cuts down my book expenses into half and I think it’s a brilliant idea to save money on your books.
- Install Free Apps of News papers instead of paying for it physically.
I never believe in Saving money by compromising on comfort…whether it is to buy a dream car or a dream house and if I have such great Money Saving alternatives, why would I compromise? 🙂
Why you should save money in your 20’s
In 20’s, your mind is young, productive and full of positive vibes. Whereas sometimes it may feel like the whole world is speaking against you but in your 20’s, you still have a strong mind to fight for your opinion and decisions. Thus you can utilize these 10 years of our life to build your next thirty-forty years.
I am not saying money buys happiness..but a secured financial future definitely contributes a lot to a balanced life and make us contribute towards happiness. We are human..we create our own happiness by figuring out our priorities. And priorities differ from person to person…My short time goal is, I need a saving of $1000 per year to turn my blogging business into a full-time income and travel on budget, that is my personal priority, Blogging and travelling makes me happy. Figure out your personal priorities and set a goal to grab it. And yes….start today!! You should not delay a life saving idea to secure your financial future.
Even if you feel helpless with all doors closed, create an opportunity for yourself by starting a Blog and make money with it. Start it if you are in your 20’s…… your 30’s, 40’s will thank you for that.
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Now I want to hear from you…what makes you excited to work on your Money Saving Goals?? Do you have your secret strategy to share?? I would love to get inspired with your awesome inspiring stories… 🙂