6 Ways for Millennials to Live Frugally

Whether you need to stretch your budget to your next paycheck or are looking to cut costs so that you can build up your retirement savings early, here are 6 tips that will help you save money.

1.

If People Ask What Gift You Want – Gift Cards.

If a friend or family member asks what you want, ask gift cards for your favorite restaurants, or just opt no-fee gift cards that may be used anywhere.

Your family will be giving you something you will actually use and you’ll be able to socialize while saving money.

Don’t take it with you – money that is.

Once you have the necessities taken care of for the week – groceries, gas in the car, and your parking paid at work, leave your cash and cards at home.

2.

If you must, keep a single $20 on you for absolute emergencies. Once you find you don’t need to use it, you can always put it in the bank and not take anything at all during the week.

When you look at that savings account every paycheck, you’re not going to be thinking about money you can spent. You’ll be thinking about the goal you set.

3.

Set a goal you save up for.

Save receipts and track your spending.

This is also the best way for you to see where you are spending money and what you can trim.

4.

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