Currently in my mid-twenties, I’m forcing myself to learn how to pick up some healthy money habits, which is learning to spend wisely and save. I love food and I love to hang out with my friends which both costs. At home, I’ve always been known as the one who spends unnecessary in comparison to my sister who is really frugal.
What I started this year or at least the last two months is that I started tracking my spending, making sure my savings are still there. It’s a lot of trial and error but I’m definitely learning from it. I honestly find it really hard to save with what I’m earning now, but it’s also not impossible if I really try to start saving seriously and properly. So here are a few things I’ve learnt.
- At the start of the month set your budget for everything. It’s good to have a guide on how much you want to save and how much you can spend on certain things per month. What I did was, anything that’s fixed, such as bills, I set them aside and then I put up a budget on how much I’m allowing myself to spend on food, fuel and some beauty products.
- Prepare food from home to bring to school or work. This definitely helped me save a lot, instead of letting my hunger take over my wallet, I make myself feel content with homemade food. Your hungry tummy demands a lot it doesn’t really need tbh. Sometimes I would buy too much food thinking I won’t be filled up with just the enough and end up spending more than I should for lunch. I rather save my money for a night out with my friends for a really good dinner.
- Save some money aside for emergency. I like to keep this separate from the other savings. I’m trying to put aside about $50-$100 per month for my emergency funds. Like the saying goes “save if for a rainy day”, cause you really won’t know when you’ll need it and how much.
- Sometimes you’ll unexpectedly spend more than you’d like to. Sometimes when certain unexpected event comes up and you can’t avoid them, those are the times when you spend a little more than you’d like to. However as long as you are spending within your budget throughout the month, it should be okay.
Look, I’m no financial expert, and my sister would be laughing at me for giving out advises, but this is what I’ve learnt and kinda works for me. Part of the learning experience right?
It would be good to type or write out your monthly plan. This is all part of adulting, it’s hard but it’s good for your future.
There’s a possibility that you might not even follow your budget throughout the month and you might start wishing that the sky would rain down money (don’t we all?) But it’s okay, there’s always next month.