It is never too early to start thinking about the future. Even as a student or as a young professional, there are ways where you can save up your money and watch it grow. Rather than half-heartedly saying you would start saving up, here are 7 ways to put your words into action and keeping what you earn for the future.
(1) Budget:
The most basic of tips in saving up is to know how to accurately allot the money you have for the things you need to buy and pay for, and have some money to spare. Take note of the things you spend on for a couple of months, and determine which areas you can spend less on or totally do without.
(2) Treat yourself:
Set aside a small amount of your allowance or your salary as your guilt-free spending money. Whatever you buy with it–a new book by your favorite author, face masks for your skincare regimen, or an all-you-can-eat coupon from your favorite restaurant–can be used as a means to motivate yourself to save up more.
(3) Differentiate want from need:
If you find that coffee helps your productivity then by all means get coffee, but ask yourself if do you really need your coffee to be the artisanal concoctions you order every so often? Similarly, do not blindly go into sales, or be enticed something you would probably not use just because these items are for sale.
(4) Know your sales wisely:
Get updates and subscribe to newsletters of the shops you frequent, so you would know when sales would happen. A great tip when shopping for clothes is to try to get clothes that are off-season (like buying jackets and sweaters during summer, and getting swimsuits during the colder season when they are not as in-demand).
(5) Point cards are your friend:
Similar to knowing when your favorite stores hold sales, gathering points every time you make a purchase at your favorite store or boutique would add up in the long run. Use this points to get a discount on an expensive item you have been eyeing for a long time, or look up the perks that come with being a loyal customer of a certain establishment.
(6) Start an emergency fund:
Separate from your usual savings, it is best to set aside a fund that you can use for unforeseen circumstances. Putting this particular fund in a high interest savings account can help your money grow faster, and can be a big help should you need to have financial aid in the future.
(7) Invest:
The word “investment” may sound daunting and advanced for someone like you who may just be starting out, but it is best to start early so you can know and understand where your money is going and growing. You can start your research by comparing the different interest rates your local banks offer for savings accounts, and you will be well on your way towards financial security.
Same as saving up, protecting your skin against the harsh environments it has to face every day is an investment that is best to be started as early as possible. Myra VitaWhite Facial Moisturizer has Double Sunscreen protection against UVA and UVB rays, helping to prevent premature skin aging and ensuring your investment on healthy, nourished skin with a youthful glow.
