These days teenagers are spending $1000 on a bunch of fast fashion or other things. It is not healthy to promote that way of living. Of course, you only live once but everyone’s situation is different. So many young people cannot afford to think about doing that and living like that.
How to make a Budget and Save In Your 20s
When it comes to making a budget, the most important thing is to list out all of your expenses and income. If you never did that before you can take a look at your last 3 months expenses and bills. Do not think that you have to get a paper and pencil to write it down. You can use an online website, or you can download an application for it. They basically help you to manage your money.
When it comes to making a budget, you can easily split it up into different categories such as rent, utilities, market expenses, entertainment, hanging out with your friends. Thanks to this way, you can easily see how much you are spending, how much money you are making, and which habits you can do to save more.
Save Money as A Teenager
There are so many reasons to save money as a teenager. If you want to save for your first car, college cost, or trip around the world you can save your money as a teenager. Saving for your own goals is the best way to understand the value of money too. And you can keep this habit forever. Saving money will be much harder when you get older because of the expenses of life. If you start while you are young, you can gain lifelong habits.
Making a Budget: Some Habits to Save More Money
There are some habits teenagers can use to save more money. Firstly, you can plan every meal which you eat throughout the day. You may not know but food is the third largest expense in our lives. It is behind the transportation.
The key is here to plan every meal that you are going to eat. It will not take much time. Thanks to this method, you are not going to worry about what to buy at the market or store because you already have a plan. You can plan it weekly or even monthly. It will save your free time as much as money.
Do not think that you have to eat everything which is in the plan. You can change some of your meals depending on what you want to eat. Second habit that I want to tell you is to quit buying coffee from popular places. I think we all love caffeine and need caffeine in our lives.
A lot of people are working hard in the workplace or at home and students are tired of preparing for exams and doing home-works therefore most of us love drinking coffee. We have to wake up in the morning earlier. I do not say that you have to quit caffeine. What I want to say is you can make your own coffee at home with less spending. If you are addicted to a coffee, you can make it at home easily in an inexpensive way. You can save more money while just planning. Of course, the first habit you must get is making a budget.
Be A Minimalist
You have to be sure that every item has some purpose in your life. Sometimes we can buy unnecessary things from nowhere and spend a lot of money. Being a minimalist, saves so much money more than you thinks. Focus on being the minimalist.