Frugal Ways To Save Money In The Milennial Age

Posted on Aug 26 2016 - 7:39am by Editorial Staff

We live in a modern day where money can be wasted easily. We tend just to be able to spend more than we can accumulate at times. However, even though spending habits are much different, we still want to save money and actively look at ways to do that. So how does our modern day living lend itself to that? This is why I thought it would be a great opportunity to look at some of the frugal ways you can save money in this millennial age.

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Alternative ways to have the latest technology

Every time you look at your newsfeed on Facebook, there seems to be a different gadget making the rounds. The next big thing in phone technology or computers. Even camera equipment is getting jazzed up. With the introduction of digital cameras, action video cameras, and drones. So how do you keep up? We have this desire to keep up with everyone. This is why thinking of alternative ways to have some of this technology is vital for taking care of your bank balance. Considering using refurbished or used phones. Perhaps making sure that you recycle your technology by having them repaired or serviced. This could save you money by handing your old devices down to children, or sell yourself to create some money towards your next purchase. There is more information online.

Saving money on household bills

Too often we can just let those automatic payments leave our bank without paying them close attention. This, however, could be where we are missing out on vital savings. A lot of people don’t care to switch from their current providers for things like energy. But this is where you are missing out on savings. All these companies offer introductory offers; switching means you could earn a substantial saving. Next time you have five minutes I urge you to look at those regular payments and see if any savings can be made. You may be pleasantly surprised.

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Making little savings as often as possible

A lot of the time, sometimes just making little savings each day or week is a great way of building up some cash flow. Small amounts like a dollar a day or five dollars a week will all add up over time, but isn’t a huge amount you could miss. Get yourself a jar or piggy bank and try it yourself. Over time you will be amazed by how much you save.

Cut down your food wastage

Food waste is one of the biggest ways we can waste money each week. But how do you change those habits of a lifetime? Investing time into a bit of planning can be key to making huge savings on your food bill and cutting your food wastage down. Meal planning is a quick and easy way to resolve this. There are plenty of tutorials online on how to get started.

Use vouchers and discount codes for everyday essentials

Finally, we can’t escape the need for spending on everyday essentials. Things like clothes, for example. So why not be more frugal about it and take advantage of vouchers and discount codes. Some of these can offer huge savings.

I hope this has inspired you to save some money.

About the Author
Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.