Daija
Your twenties is the best time to set the tone for your financial habits and save more money. It is crucial that you know where your money is going always so you can be financially prepared and ready for anything. No one wants their money just flying out of their wallet so here are a 6 tips you need to stop buying to save more money in your 20s:
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Food Delivery
I know the feeling of just wanting to stay in the house and order some food for delivery but I promise you it is not worth the price. Places like Doordash, GrubHub, Uber Eats and Postmates will convince you that you’re getting a good deal but in actuality you’re not. You’re spending so much extra money on unnecessary fees and tips that you might as well just go get up and get it yourself.
Tip: To prevent the temptation of ordering delivery, delete the apps off your phone and start planning your meals in advance.
Unused Subscriptions
A lot of the time we don’t realize how many subscriptions we are paying for until we actually check in on all of our monthly expenses. Sometimes it’s random phone apps that are charging every month, and unused gym membership, and more that are just taking extra money from us that we could be using to do other things with.
Tip: Go in and check your bank and credit card statements to see what’s coming out monthly and make sure you cancel everything that you’re not using anymore.
Credit Card Interest
Credit card interest can catch up to you fast if you’re not paying attention to it. Unfortunately, credit cards are not free money and the longer you wait to pay them all the bigger the price you pay. A lot of credit cards have an interest rate over 20% so don’t let balance linger for months or you can end up with a much bigger bill than you originally expected.
Tip: Make sure that you are paying your credit cards off monthly or weekly so you won’t be charged those annoying interest fees.
Buy now, pay later
In the moment when you’re about to buy something, it’s so easy to think “oh if I do buy now, pay later it’ll be easie and Ill be able to afford it. However, BNPY can be a blessing and a curse. there’s been so many times where I’ve seen people use by now pay later over and over again and now they owe way more than they began with.
Tip: If you’re going to buy something, just get it over with and pay the full price even if you have to save for it. Trust me, your wallet will thank you in the long run.
Drinks at the bar
I absolutely LOVE having a night out with the girls however it can get expensive. Drinks at the bar can add up really quick. Some bars charge outrageous prices just for one drink with barely any alcohol in it and it’s never worth it.
Tip: If you are trying to save money, it’s best if you pregame before going out or get someone else to buy your drink (but make sure that you stay safe).
Trendy clothes
Have you ever gone on Instagram and seen an influencer wearing the cutest outfit and thought “I need to get that”? Or, seen a new fashion trend popping off on TikTok and wanted to join in? Listen, I’ve been there. But let’s be real. After a few months, that item will probably collect dust in our closets until we finally muster up the will to give it away.
I’m not saying you should NEVER get trendy clothes. But, I am suggesting that you should think about how often you’d ACTUALLY wear that item before purchasing. Also, how well does it go with the other clothes that you have? A lot of the time, fast fashion isn’t really worth it especially if you’re not getting basics or staple pieces that can help improve your wardrobe.
Tip: Save your coins and invest in clothes that actually make you feel good and will be something that you can wear long term.
If you implement these saving money tips in your life, you will notice there will be more of your money available to you within your bank account to stack up your coins, pay off debt, or invest. Remember, the success of your financial future is in your hands and you are capable of taking control.
