Millennial’s have a reputation for living the good life like daily breakfasts at Starbucks, with freshly baked sourdough bread and the finest imported coffee money can buy.
The only downside is that many of us aren’t that good at guarding and managing our finances, and this invariably leads to negative consequences in one form or another.
It’s ALWAYS a good idea to avoid getting into serious financial trouble in the first place, but luckily, there are such things as credit card debt consolidation loan services that you can be turned to when things are truly dire.
So, here are some tips and tricks to help you become better with your money.
Use the Right Budgeting Service
Today, most, if not all of the hassle to set up a budget has been eliminated thanks to the rise of certain intuitive budgeting and financial management sites such as YNAB, Everydollar, and Mvelopes.
The art of budgeting these days can be as easy as downloading your latest report from your online banking website, importing it to a budgeting site, and spending five minutes organizing your info. You can also simply input the details of a transaction, as it happens, in real time.
If you’re not already usingo some kind of budgeting software, what are you waiting for?
Rely on Cash When Out
How often do you carry cash with you? I’m always paranoid someone will steal my wallet, but it’s far too easy to just grab your wallet and swipe! Often, one of the best ways of limiting wasteful spending is drawing cash when heading out, and to stop spending when it’s finished. Don’t reach for the card unless it’s a real emergency.
Audit Your Regular Expenses, and Cut Out Anything That Seems Wasteful
It’s more than likely that you’ll have at least one or two subscriptions here or there which basically serve no purpose.
Maybe it’s a gym membership that you never take advantage of, or a small monthly fee for some app you haven’t used in months.
Recurring expenses — even small ones — have a way of adding up. Audit yours regularly, and cut out anything that seems wasteful. You may be amazed how much you end up saving down the line.
What are some
wasteful things you cut out this year alone?