Solaria Posted March 17, 2023 Posted March 17, 2023 I’m in my early 20s and its time for me to start caring about saving money. I’m terrible at it and my ADHD makes me always want to buy stuff that I don’t need. How can I make sure I actually keep it and don’t spend it? All tips are welcome.
Sweet Sexy Savage Posted March 17, 2023 Posted March 17, 2023 Put that disposable money that’s outside of your essential needs into a higher yield time account that will earn interest but will be penalize if you try to withdraw from it
Badgalbriel Posted March 17, 2023 Posted March 17, 2023 Same sis. I spend all of my salary on useless stuff. I can't control myself
ProudLBS Posted March 17, 2023 Posted March 17, 2023 whenever you want to buy anything non-essential, wait a week
PopKills Posted March 17, 2023 Posted March 17, 2023 For me before going grocery shopping I always go online to check discounts in any supermarkets nearby and only shop the discounted products I think I will need/want for the next week/s depending on how long it’ll take till it’s discounted again.
Solaria Posted March 17, 2023 Author Posted March 17, 2023 Just now, Badgalbriel said: Same sis. I spend all of my salary on useless stuff. I can't control myself It’s ridiculous right? I’m living an extremely hedonistic lifestyle and I can’t even afford it I’m lucky I’m not in debt yet
Reginald Posted March 17, 2023 Posted March 17, 2023 If your employer offers direct deposit, try having part of your money automatically deposited to a savings account. That way, it's set aside without you even having to consider it as part of your "spendable" income.
Jotham Posted March 17, 2023 Posted March 17, 2023 I never eat out on weekdays and instead cook meals for myself. I also find that, the more money I have in my bank account, the more confident I am with saving my money instead of splurging.
Solaria Posted March 17, 2023 Author Posted March 17, 2023 1 minute ago, Jotham said: I never eat out on weekdays and instead cook meals for myself. I also find that, the more money I have in my bank account, the more confident I am with saving my money instead of splurging. I need to start doing this. A lot of money goes to takeout because I’m too lazy to cook
zasderfght Posted March 17, 2023 Posted March 17, 2023 (edited) Download Honey and Capital One shopping extensions for your browser. They find coupons that may apply to your online purchases. Download apps to any/all places that have a rewards program-- this includes Chipotle, McDonald's, Bonvoy (I believe), Noodles & Company, Target Circle, Walgreens, CVS, etc. If you can buy food/produce/toiletries in bulk & have a car, get a Costco membership. It's only $60/year, and typically Costco has the cheapest gas & if you buy their food/toiletries/household products in bulk and make them stretch, you'd be surprised how much you're saving. Also, download GasBuddy-- you can see the cheapest places to get gas here. If you're an Amazon Prime member, you can get deals at an Amazon Fresh store & even at Whole Foods Market (although, be careful with Whole Foods-- I'd stick to the Prime prices). Cook your meals/meal-prep. Prepackaged lunches/dinner get costly. Order water for every takeout meal. If you're an avid coffee/tea drinker, invest in a Keurig as opposed to hitting up Starbucks. Cut down on recreational drugs-- these get costly & can wreak havoc on your mental health. Getting a gym membership (Planet Fitness is only 10/month) is a much better ROI, especially if you go often enough. At grocery stores & restaurants, always ask for the paper receipt. If you shop at Mariano's, for example, there's coupons on the back of the receipts. Or the receipt can have you take surveys & you save money on purchases. This was lengthy, but these are hacks I use, and it's helped heaps! Edited March 17, 2023 by zasderfght
suneclipse121 Posted March 17, 2023 Posted March 17, 2023 (edited) 17 minutes ago, Milestone said: i realized that i need a higher-paying job that accommodates my spending lifestyle Same. I realized that my expensive taste is never going to change but I can definitely change my job to a higher paying one But to answer OP I’m terrible at saving money and always have been and I’m almost 30. It’s not cute. But I definitely am trying to become more conscious and less impulsive with the things I buy. Just hold yourself accountable and try not to rely on credit too much because it’s dangerous and can get out of control QUICKLY. Edited March 17, 2023 by suneclipse121
Delirious Posted March 17, 2023 Posted March 17, 2023 Sis remember cooking doesn't always have to be extravagant. On days I don't feel like cooking I eat cereal with vegan yoghurt and almond milk and some raw fruits. + Maybe some toasted bread + peanut butter + protein powder
MonsterNavy Posted March 17, 2023 Posted March 17, 2023 (edited) girl, same. I order take outs everyday for lunch and dinner on weekdays then go out with my friends every weekend I also buy all the stuff that I want and its actually crazy how i'm still not broke i'll give myself 5 more years if I keep doing this i'll be begging for coins on the streets Edited March 17, 2023 by MonsterNavy
BrokenMachine Posted March 17, 2023 Posted March 17, 2023 Well, as some said you could put some money into a savings account, an account that generates interests and penalizes you for withdrawing that money before some date. If you are from the US you could use the U.S. Treasury Saving Bonds, which is the safest saving you could make.
Solaria Posted March 17, 2023 Author Posted March 17, 2023 25 minutes ago, MonsterNavy said: girl, same. I order take outs everyday for lunch and dinner on weekdays then go out with my friends every weekend I also buy all the stuff that I want and its actually crazy how i'm still not broke i'll give myself 5 more years if I keep doing this i'll be begging for coins on the streets The way this is basically my life whew chile
wish Posted March 17, 2023 Posted March 17, 2023 This was me like 2 years ago. Put your money away in a place you can't easily access it Also stop buying food out immediately. Make cooking a fun relaxing experience for you, it doesn't have to be crazy
Badgalbriel Posted March 17, 2023 Posted March 17, 2023 1 hour ago, Love Again said: It’s ridiculous right? I’m living an extremely hedonistic lifestyle and I can’t even afford it I’m lucky I’m not in debt yet Yeah, and I got lucky I could make as much as I do. I'm literally among the top 5% biggest salaries in Brazil and I can't save 1 single penny at the end of the month.
Badgalbriel Posted March 17, 2023 Posted March 17, 2023 45 minutes ago, MonsterNavy said: girl, same. I order take outs everyday for lunch and dinner on weekdays then go out with my friends every weekend I also buy all the stuff that I want and its actually crazy how i'm still not broke i'll give myself 5 more years if I keep doing this i'll be begging for coins on the streets THIS IS MY PROBLEM! I literally eat out every meal I have in a day. I'm too lazy to even prepare black coffee, so even that I buy every day, at least 3 times a day.
Badgalbriel Posted March 17, 2023 Posted March 17, 2023 I also buy things cause I feel like I deserve them. I had a perfectly working phone, an iPhone 12 Pro. But still, I couldn't wait to buy the S23 Ultra cause I felt like I deserved better pictures on my Instagram feed So I bought the damn phone, pictures are incredible but man, it was NOT necessary.
Badgalbriel Posted March 17, 2023 Posted March 17, 2023 @Love Again let's build a supporting system so we stop buying stuff we don't need.
Solaria Posted March 17, 2023 Author Posted March 17, 2023 34 minutes ago, Badgalbriel said: I also buy things cause I feel like I deserve them. I had a perfectly working phone, an iPhone 12 Pro. But still, I couldn't wait to buy the S23 Ultra cause I felt like I deserved better pictures on my Instagram feed So I bought the damn phone, pictures are incredible but man, it was NOT necessary. Girl I pay 80 euros a month for my phone plan it’s ridiculous 32 minutes ago, Badgalbriel said: @Love Again let's build a supporting system so we stop buying stuff we don't need. I agree sis
BGKC Posted March 17, 2023 Posted March 17, 2023 (edited) DoorDash/Ubereats low key ruined my life. I just saw that I saved $1,066 in fees on DD. I don’t even want to know how much I SPENT to save all that I save on rent with roommates though. I make like 5x the rent in income as opposed to spending twice+ as much for a studio/1 bedroom. I don’t own a car either which can be a financial liability in itself (not everybody has access to good public transportation though) but I’m still insanely frivolous when I leave the house; like every day cost at least $100 for me unless I stay home in bed taking naps and pretending I don’t exist. I think my main issue is I need a partner. My loneliness turns to spending to fill a void. Plus two incomes is just better than one. This whole system (especially in the US) is built against single people more and more each day. Edited March 17, 2023 by BGKC
Pink Matter Posted March 17, 2023 Posted March 17, 2023 This is something I need to learn how to do as well. I think something I want to try out is balancing a checkbook (not sure I'm using the phrase correctly) by deducting the cost of essentials like rent/mortgage/utilities, groceries, toiletries, loans, etc. Whatever is leftover is put into savings account. 3 hours ago, Delirious said: Sis remember cooking doesn't always have to be extravagant. On days I don't feel like cooking I eat cereal with vegan yoghurt and almond milk and some raw fruits. + Maybe some toasted bread + peanut butter + protein powder This is definitely something I need to practice as well
cockatoo Posted March 18, 2023 Posted March 18, 2023 People in here ordering every single one of their meals? Firstly let's start cooking...prepping in advance will help so much. Every time I cook I always make at least double the portion so I don't have to cook every day. I also plan my meals for the week when I go shopping so I know exactly what I need to buy. Plus keep some stuff in the freezer that you can just chuck in the oven on days you really can't be bothered to cook. Secondly like someone else said, put a portion of your salary into savings as soon as you get paid so you can't get at it.
Homebrand Posted March 18, 2023 Posted March 18, 2023 2 hours ago, cockatoo said: People in here ordering every single one of their meals? Firstly let's start cooking...prepping in advance will help so much. Every time I cook I always make at least double the portion so I don't have to cook every day. I also plan my meals for the week when I go shopping so I know exactly what I need to buy. Plus keep some stuff in the freezer that you can just chuck in the oven on days you really can't be bothered to cook. Secondly like someone else said, put a portion of your salary into savings as soon as you get paid so you can't get at it. This, it's really not hard, especially if you're living at home. I would deposit $200 a week when I got paid into a savings account, a year later you have over $10,000 saved. I wouldn't even view it as money, almost like its a bill you have to pay. Heck you could even do $100 a week and have over $5000 saved in a year pending on your living expenses and income.
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