Being in your 20s is great, isn’t it?
You’re full of hope and energy. Life is a ton of fun.
But there’s no denying that the future is coming. And saving money in your 20s is much easier than trying to figure out how to make it in your 40s, 50s and beyond.
No need to cringe at the idea. It isn’t as hard as you think.
Easy Ways to Save Money in Your 20s
We’ve got seven simple ways you can start saving now to ensure a more financially stable future.
1. Buy Secondhand
There’s a good chance you have a thrift store somewhere near you. And even though they can be hit or miss, if you shop them enough, you can score some great clothes at a fraction of the price.
There are also online thrift stores that enable you to specify what you want or need. Either way, you’re not only saving money, but helping the environment too.
2. Take Advantage of Your Local Library
If you buy a lot of books on the internet, take a month or two off from buying and head to the library instead.
Many libraries are part of a bigger library network that allows you to find almost anything you need. And online catalogs enable you to read reviews.
So next time you find some books you want on the internet, save them to your cart, then check your library’s website to get them free.
3. Use Credit Cards Effectively
Some people opt out of using them because they’re worried about overspending. Others see no benefit and would rather pay with a debit card or cash.
But when using credit cards effectively (regularly paying off your balance, switching to 0% APR cards, etc.) you not only earn rewards, but you’re building your credit too.
And this is a huge pay off down the road.
4. Entertain More At Home
Instead of meeting up with your friends at the bar or trendy new restaurant every week, toss in a few nights at home.
It could be a weekly or monthly thing where the designated person has everyone over and you all contribute. Then you’ll have unlimited time to chill and relax, without any big check at the end of the night.
5. Auto Transfer Money to Your Savings
It really doesn’t get any easier than this.
To keep yourself from spending that extra bit of money each month in your checking account, set up an auto-transfer to send it to your savings.
Most banks allow transfers within the bank completely free of charge when you do online banking with them.
6. Learn How to Cook
When you make your own food, you not only save money, but you have control over what you’re eating too.
There are free recipes aplenty all over the internet. Pinterest is a great place to start.
Begin with recipes that require only minimal ingredients until you start getting the hang of the whole cooking thing.
7. Travel in the Off-Season
Have you ever been to Italy in March? How about the Caribbean in July?
Traveling in the off-season is a great time to save big money on airfare, hotels, and restaurants. Plus, you won’t have to battle the crowds.
Start Saving Now
There are a lot of ways to start saving money in your 20s that won’t put a damper on your good times. These are just some of them.
And if you’re looking for more great articles and information on how to handle your finances, keep checking back with our blog. We love to help.