Millennials in Singapore can also find good ways to save money without disrupting that adventurous spirit and that is exactly what we are going to be talking about in this article. We will give you six powerful and very effective savings strategies that are going to help you save money and help you finance that adventurous thirst.
Let’s forget the hype about Millennials, the important thing is that if there is a will, there is always a way. You can save money for your future if you have a will.
#1 Look out for cashback opportunities
The best thing you can do when you have a credit card is to always be on the lookout for cashback and this is going to help you save a lot of money. Saving money for any emergencies is always a plus and therefore credit card rebates are always such an important thing to take advantage – when you find the opportunity.
This is a strategy that has helped thousands of people save a ton of money. Those savings can seem minimal in a month, but they become quite substantial after a year.
#2 Control your emotions
Yes, like it or not, emotions can affect your buying decisions. As we become very connected to our emotions, we are very likely to feel the need to purchase things based on those emotions. This is the reason why we can make impulsive purchases on things they don’t need or even want. We do this because they might feel stressed, lonely, tired, anxious, etc.
It’s very easy to fall into the temptation of making purchases you don’t need when you are feeling emotional, so always consider this to be an important thing for you to get results that truly work for you and for your needs. The better you are at controlling your emotions, the easier it will be for you to get ahead in life and to have control of your environment and your personal and professional life.
#3 Become a hunter for the best deals
There are always great deals out there that people can find for the things they want. For example, there is a college kid who purchased his video game console for half the price that this friend got it because he waited until black Friday arrived. He spent that extra cash in something else he wanted while his friend purchased the same console for twice the cost just one month earlier. Exercising patience is an important part of being able to get results when hunting for the best deals.
You can start looking for websites that offer killer deals all year long, and then you can browse through them when you need a new item. You are probably going to find that one of them has much lower prices than the others. There are many of these sites, so it’s a good idea to do your research and pick the top 5 that have the lowest prices and the most reliable results.
#4 Learn to maximise resources
A good example is with cable TV. This is a service that can be quite expensive when you sum up the entire year worth of cable bills. I’m sure you have a laptop or a large tablet, so there is no need for you to have Cable TV when you can get Netflix for a much lower cost than cable. You can also find plenty of online channels that are absolutely free of charge.
You could also forget about getting the latest gadgets if they serve no real valuable purpose for your needs. There is no need to upgrade from a perfectly good smartphone just because the new one has more megapixels when it takes pictures. There is also no need to purchase the latest HDTV because it comes with a large color palette. These are things that you will barely notice, and they will cost you a large amount of money.
#5 Don’t forget your age does not protect you from life
One of the biggest problems of being young is that you think that all your troubles and problems are far away in your future and they can’t touch you in the present. Always remember that accidents can happen, that life can get in the way of your projects and your goals, but if you are prepared for life to throw curves at you, the outcome is going to be positive.
#6 Use the web to educate yourself
The truth about education is that we have reached an entirely new world of possibilities thanks to the digital world. The internet has become the ultimate university, and a large chunk of the things that we learn in universities are widely available for free on the internet or for a much lower cost than that of admission to a prestigious college.
The point that we are trying to make here is that you need to consider the importance and the value of technology for education. Don’t just see it as the place that you use for the purpose of fun and entertainment.
The most important and most rewarding thing that you can do with your life is to learn how to manage your finances as early as possible. This might seem like an annoyance right now, but you will be glad that you decided to start seeing this as a priority in your life.
The world is a place that you have the right to explore and to experience, but also remember that it’s a digital jungle out there and everyone is doing all they can to secure their financial future. Just try to avoid being left behind and ending up with complete financial uncertainty during any kind of emergencies or setbacks in your life.