How to start saving money in your 20s

I have been wanting to write this article for a few months now. Since I started working and earning money for myself, I’ve realized how difficult it is to keep track of all the expenses that go into living your average day-to-day life. From grocery shopping to clothes shopping, from paying for rent to going out with your friends once in a while. All these expenses add up and by the time pay day comes along I realize how much of a struggle it is to keep up with the ideal, balanced life I’d like to lead and the real, working life that seems to get in the way of that balance I’m trying to find.

I’m not the kind of person that goes around spending money all day long, I do save as much as I can, but I’ve also realized that this month I’ve been splurging a little bit too much. And that not only is bad for my finances, but it also sets me back in making all my future plans possible sooner rather than later. So here are some of the tips I have learned and experienced myself on my own skin.

How to start saving money in your 20s

Courtesy of Wildfox

1. Go grocery shopping once a week: This week I’ve been working more than usual and as a consequence, I completely lost my ability to schedule my meals and instead of going shopping, I bought my lunch every single day while at work. You might think it’s not that big of a deal, $5 or $6 for a sandwich might not seem that expensive, but when you start adding those dollars up during a week it becomes much more expensive than spending $70 on groceries at the supermarket which will probably last you more than a week in the long run.
2. Make your coffee at home: OK I am usually very good at keeping this resolution, but I am trying very hard to reach the Gold Card level at Starbucks so I’ve been splurging on this one this month as well. But fear not, I am almost there! My advice for you is to buy yourself a good coffee machine. I’m not trying to brag here, but I must say I am very experienced when it comes to coffee machines, I’ve tried so many different  ones and the best one by far for me and for most of the people I’ve talked to about it, is the French Press. It’s so easy to make coffee in the morning using this small machine and the best part is that it’s manual so you know exactly what goes in it and what will come out of it. The taste of the coffee is always the same and always fresh. 
3. Use cash instead of your debit or credit card: As a matter of fact, when I use cash I always know how much I have and how much I am spending, because I visualize it in front of me. When I use my debit or credit card it’s much easier to splurge on any kind of product and it’s easier to keep on spending because I don’t realize how much I have and how much will be left in my account until I check my account and nearly have a heart attack. So choose your weekly or monthly amount you think you are going to need to live on and take it out in cash. 
4. Every payday transfer a certain amount into your savings: This is a very important step that I never forget to do every time I get paid. Transferring some your earning into a savings account makes it easier for you to save that money. I personally don’t even look at my savings so I don’t have any urge to touch it.
5. Open more than one saving account: Do you have dreams of travelling one day? Do you want to save up to buy yourself a condo or a car? How about that super expensive Chloè bag? well maybe the Chloè bag is only in my dreams and not yours, but you get what I mean right? For every expensive dream you have in mind, open a new savings account and every month add a certain amount in there, as much or as little as you want and you’ll see that in time it’s going to grow more and more and one day you’ll reach your goal.
6. Go out and have fun too! Just because you are trying to save money it doesn’t mean you can’t go to that fancy restaurant or you can’t enjoy that mimosa during brunch while chatting with your bffs. Enjoy your life as much as you want to save your money for your future. life is all about balance and your mental health is much more important than the amount in your bank account.

Courtesy of Wildfox