Whatever job you’re in, your salary can seem like it just isn’t quite enough. Not only have you got to pay for your rent and your car (or subway) expenses, but then – and this is the important part – you also have to treat yourself to a little something each month. Because you’ve worked hard, so why don’t you deserve that new pair of shoes you’ve been eyeing for weeks? Yet saving up some cash could be more important than you think, and we’re going to show you how to do it, even if you’re a broke millennial.
Sacrifice the Starbucks
Ok, we know what you’re thinking. For $5 a day, your coffee gets you through the tough times and is hardly a huge amount of cash. But $5 a day is $35 a week. Which is $140 a month. That’s a lot of money, when you could invest in a thermos bottle and spend $140 elsewhere. There are some nice ones out there, and you’ll be saving the planet too by making your own at home. No disposable cups for us, thanks.
Start a savings account
Starting a bank account for your savings could be key, and you’ll thank yourself when you’re getting paid little (or nothing) to do an internship. Putting aside even $20 a week will enable you to see your cash stacking up, so it’s definitely worth considering. Saving $20 a week will leave you with a savings pot of $1,040 a year, which will pay for the best vacation you can think of, and much more. Sounds great, right?
Use coupons and take advantage of discounts
Ok, the idea of coupons could make you think of a middle-aged Mom scanning voucher after voucher at Walmart. And whilst this isn’t a bad idea, we’re talking discounts on clothes, and pretty much anything else you can think of. Every store should have some discount codes out there, and you can save up to 40% (or sometimes more) if you find them out. It only takes a Google, but don’t miss this trick. If you’re a student, you’ll get around 20% off everywhere, so don’t make the mistake of paying full price when you don’t need to.
Sort out a pension scheme
If you’re in your 20s or 30s, you’re probably not thinking about a pension scheme. If another Fashion Week comes around, you probably think that you’re not even going to make it to a pension-eligible age. But seeing what the deal is with your pension is worthwhile, and you’ll be glad you put a little bit aside so that you can live the high life when you’re older. Check out https://budgetboost.co/solo-401k/ for information if you’re self-employed and want to start one.
There are many ways to make the most out of your salary, by cutting out some of your unnecessary expenses, starting a pension scheme or savings account, and using coupons and discount codes, particularly when you shop online. You could end up with enough money to go on that vacation you’ve always dreamed of, so good luck, and happy saving!
