Monday, August 15, 2022

2 Things I Would Tell My Younger Self About Saving Money

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Martin Haglin
Martin Haglin
Martin Haglin was born and raised in Conneticut. Martin has worked as a journalist for nearly a decade having contributed to several large publications including the BBC World and CNET. As a journalist for Business News Ledger, Martin covers state news, Finance and human interest stories.

Speak to an older person as a 20-something and you’ll hear the same thing, “it’s better to start saving early while you’re still young.” While that rings true, I do believe in the importance of balancing your budget to not only accommodate your savings but also allow you to enjoy the simple things in life. As I’ve gotten older, I’ve found myself learning a few tips and tricks to better budget my money and I thought what better way than to impart what I wish I had known when I was younger about saving money.

1# Budget It Don’t Fudge It

When it comes to your expenses, time and time again people would tell me to budget. How? This is something you wouldn’t learn in school which is why it is important to learn the trade yourself. There are various apps, programs, and websites, that can help you create a template for your budget. Organise how much you would spend on groceries, bills, subscriptions, car expenses and more to understand how much you can save. By doing so, you’ll find yourself with more money than if you had not mapped out a plan and just keep taking money out of the draw.

2# Eating In Is A Lot Cheaper Than Eating Out

Saving money

The price for an avocado on toast is incredibly expensive compared to buying a packet of bread and the avocado yourself. While most people say eating avocados on the daily is for the rich, it can be made possible if you take the time to make it yourself. Most food especially in cafes and restaurants are costly, with you finding your credit card maxed out if you were to spend eating out on the regular. Buying food to eat at home is incredibly inexpensive as the prices are cheaper and the amount is double what you get at a restaurant, allowing you to eat it for several days rather than for one night.

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