Wednesday 4 May 2016

Smart Financial Hacks For The Working Millennial

A lot of millennials only have $1000 (or less) in their bank accounts. Greater savings are often correlated with higher income, but today’s spending culture is different. When people have more, they tend to spend more and save less. Here are smart financial hacks for the hardworking millennial.

Save and spend spare change: A small change can make a big difference. Utilize coins for daily transactions like commuting or paying for a quick lunch.


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 Image source: familymint.com

Make personal gadgets work: Other people think that buying a high-end camera for their personal use is a “great investment.” However, a gadget will be of greater value if used for business (e.g. a hobbyist can do a side job as a photographer or an Uber driver during their spare time).

Get a gig: Sharing platforms like Uber or Airbnb are great ways for those who want to earn more money. It’s also okay to do babysitting or tutoring gigs even with a 9-to-5 office job.

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 Image source: emtvpng.com
Live within means: The wants (frequent traveling, unnecessary clothing purchases, new gadgets) can wait. Many youngsters spend way over their budget just to embrace the latest trends. Living within one’s means is about living only with what one can afford and not with how much one can borrow. This way, people can get rid of their high-interest credit cards that will deter them from making over-the-top purchases.

Fred B. Barbara began his journey to being financially free at age 18 when he established his own trucking company. Learn more about saving and investing when you visit this Facebook page.

1 comment:

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