If only most of us knew how hard adulting is, we wouldn’t rush into moving out of our parent’s house. The hard part is not just about paying for your apartment, there are also utility bills, insurance, food and if you have wanted to have a social life you must also factor in some pennies hundreds of dollars for that.
The excitement of adulating is often wiped off your face before you even have enough time to bask in your new gained freedom from your parents. One moment you are happy that you are finally in the grown-up world where you can make your own decisions, the next you realize that few jobs for youths will offer you enough to pay rent, pay utility bills, buy food and still have money to spend on your hair and nails or for guys, a night out with your boys.
The art of spending less and saving more can be a gem for you if you’re setting out to live alone. Being financially fit involves many things, all which can be given one fancy name-living frugally.
To master the art of living frugally, you must have tricks for saving money. If you’re excited to learn these money-saving tricks and can do anything to fine-tune your finances these are a great place to start.
Live on a Budget
People will always say “I’m living on a budget” but the truth is that it’s not as easy as it sounds. You can easily be tempted to acquire a brand new pair of shoes that’s you’ve been eyeing as the first thing when you get your paycheck, after all, you only have yourself to care for and think about.
Making a budget is one of the adulting-economical-living-hacks-anyone can use that you simply can’t do without even using money lenders will need to be budgeted for and the best way will be to use moneylender in Singapore as they have low lending rates? When you get your paycheck, confirm your budget that you can easily afford to purchase a new pair of shoes, and if you can how much is reasonable to spend. Also with a budget, you will realize that you spend less $100 on miscellaneous things on a weekly basis.
Save on Internet
As a young adult living alone, don’t allow yourself to be bullied by expensive service providers that charge at least $100 per month. Service providers today will attempt to rope you into package deals, but you can save yourself by using providers like Circles Life.
They offer no mobile plan with 6GB, caller ID, 100 mins talking time and unlimited WhatsApp calls at only $28 per month. Thats the real deal right there.
Learn to Patch up Clothes
You don’t have to be a tailor to be acquainted with how to put back a fallen button on your shirt, and you certainly need not own a sewing machine to sew back a small rip on one of your fabrics. Adulting frugal living means you can repair your torn pants and not be forced to purchase new ones.
You can learn how to attach a button, sew a seam or thread a needle from a friend, a parent and lucky for you there is also YouTube.
Live on Frugal Meals
With a few clicks on your computer, you can learn some affordable recipes that will help you pinch a few pennies, thanks to YouTube and Pinterest. You don’t have to survive on Ramen-noodles to save on food. Before you go to the store, make a shopping list and a meal plan so you know exactly what you will buy.
If you get so good at these, you will know the seasons for fruits and vegetables when you can buy them at a cheaper price, and which foods are on discount. This also means you will always have something in your fridge and therefore don’t have to be tempted into eating out.
Set Up an Emergency Fund
Saving should be a life skill that everyone has irrespective of their age. Everyone needs emergency cash in case of a rain check. As a frugal living adult, have cash is as much as three to up to around six months of your income reserved.
The easiest way to ensure you save is to have an automatic saving system. Set up the system so that $10 or $200 whichever you can afford, is automatically transferred to the reserve accounts from your checking account. When this money doesn’t get into your normal account then you are less likely to come up with something to spend it on.
Alternatively, Easy credit offers short term instalment with low interest rate, contact the financial advisors for more information.
Use Cash Instead
Research shows that when we use cash to pay for things, we use to do so with our emotions. Handing over paper money is much harder than when paying for things electronically. And there’s a bonus if you do pay for anything with cash, you will have lost change you can drop in your savings jar and use to spoil yourself at the end of the year.
Learn How to Cook
While it is easy to eat a cheap dine-out meal like Pizza, you will still not save as much as if you cook your own meals. Before leaving your parents’ house, learn how to toast, boil an egg, and prepare other basic meals. This way you will not just be eating healthy meals but will also have leftover meals for days you don’t feel like cooking. Besides, you won’t have time to grab a fast food every day of the week, so if you don’t learn to cook you will starve.
Take Good Care of Your Accounts
Identity theft has never been more real than now even if it will involves using moneylender in singapore should you happen to be living there, and your bank account and credit card are at risk. Watch for any changes in your account-even small ones like $1 or $2. Don’t be a victim of conniving credit card thieves.
While this adulting-economical-living-hacks-anyone can use are important for anyone who is looking to survive the hard economic times, they are even more important for you as a young adult living alone for the very first time.