The Millennial’s Guide To Not Being ‘Forever Broke’
Face it. We’re all underpaid and overworked. But the rant is getting kinda old, don’t you think? It’s time to stop cribbing about it and suck it up.
In fact, if you did that, you might just find yourself with a few extra minutes to read this post on how to keep from going broke. It’s not that hard, really.
A few lifestyle tweaks, a few new habits to acquire and you’re good to go!
Don’t think it could work? Well, all we can say is, ‘Challenge accepted’.
Try these 7 simple (but totally LIT) ways to stretccccccch that salary.
1. Wait for sale time.
Sure you want your style to be on point, but you can’t keep blowing your salary on a fancy new wardrobe.
Impulse shopping is your biggest enemy. Browse online for discounts on your favourite brands or wait for the mid and end of season sales instead. They’re usually worth the wait!
2. Walk and use public transport when you can.
UBERs and OLAs maybe at your beck and call, but planning ahead of time means you can save a good amount of money on transport.
No more surge prices to clean out your wallet!
3. Try the envelope method.
It’s frugal, it’s old-school, but it works. Keep one envelope for each expense category – Rent, Bills, Transport, Food, Entertainment etc.
Budget an amount for each and don’t switch between envelopes when you wipe out one category. You just might find yourself with some savings by the month end!
4. Find yourself a set of thrifty friends.
They know all the secrets to having fun without burning a truckload of cash.
From cheap food joints to budgeting hacks, they know the ropes and can teach you a thing or two.
5. Choose one video-on-demand streaming service.
You don’t need all of them – Netflix, Hotstar and Amazon Prime. Pick one! Also, there are tons of web series to watch these days. So, you really aren’t going to be bored.
And if you don’t watch TV that much, consider disconnecting the cable TV service. (Don’t look so shocked.)
6. Stick to the shopping list.
If you’re the kind who tends to add everything you see to the shopping cart, beware!
Try making a list of what you need and stick to it. And if malls make you go crazy, order your groceries online or simply ask your local banya to home-deliver.
7. Stop eating out so often.
It’s not good for your health or your bank balance.
Think of hiring a tiffin service that delivers to your office or get yourself a cook. May not be gourmet food, but at least you’ll stay healthy.
8. Get rid of that credit card.
If you can’t pay the bill on time, maybe the card is not for you.
At least till you work up the self control, stick to cash. And leave your debit card at home too. You won’t be sorry.
9. Look for fun, free ways to spend your weekend.
Movies and expensive getaways aren’t the only fun weekend activities, you know.
Look for book clubs to join, free shows you can watch or exhibitions you could visit in your area. Hanging out with friends on a promenade can be fun too (read: monsoons and bhutta?).
10. It’s not too early to save.
Finally, while we talk of not going broke, here’s an essential tip: Start saving! It’s not too early and you don’t earn too little. Even tiny amounts add up over time.
Talk to your dad, your older sister or anyone who’s got their finances in order, and ask them where you can invest. You can start with as little as 1000 rupees!