4 Ways To Save Money and Plan for the Future

Jan 11, 2024   |   3 read


4 Ways To Save Money and Plan for the Future

Money isn’t everything, but it helps to have it in our current world. It helps a lot. Picture this, you’re a student, just fresh out of your parents’ house, and you’re left to fend for yourself. It’s not good to eternally rely on your parents’ allowance for survival; that’s why we’ve rounded up a few pointers to help. 

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1. Less Means More

Live modestly. This doesn’t mean we want you to be crunching pennies. No one needs to obsessively cut back on everything to save money. The trick is to need less. So, how can you do this? There are a few things to keep in mind:

  • Keep it to the essentials: If your goal is to save money, then the first thing to do is to prioritize where your spending is going. Aside from shelter, food, hygienic products, daily essentials, and money for transport, everything else isn’t needed to survive. This isn’t the best way to enjoy your days, but if the goal is to save money for just a few months, it’s doable. 

  • Cook for the majority of your days: Cooking can save you a lot of money. Delivery, takeouts, and dining out can add up. There’s nothing wrong with it, but if the aim is to economize, then you know the deal. One upside when it comes to cooking is that you know what’s been put inside your meal. It’s not only an excellent way to save for a rainy day. 

  • Spend your free time in free places: Instead of going to a bar or a club every weekend, you can opt to hang out with friends at someone’s flat or spend time at the park. This will help you keep your pennies for a little longer.

We know that many things come with a price, but if you can manage to be patient just for the time you’re building wealth, you won’t regret living on simpler terms. It’s not always the most fun thing to do, but it doesn’t have to be permanent.

2. Acquiring Sources of Income 

If you’re a student, you probably have a part-time job. Maybe as a waiter/waitress or at a supermarket. That’s all and well, but you’d be better off getting an internship in the field you want to work in eventually. Most intern gigs are unpaid, but the goal is to get some sort of experience. Once you’ve gotten some experience, it’ll be easier for you to find a part-time job in your respective field. 

It’s much better since you’re building experience for your career and portfolio rather than wasting time at a temporary gig. It will take a few months before the money starts coming in, but it’s better for the long run. 

However, having multiple sources of income is your best bet to make some more money. Find some side hustles that you can naturally operate without too much difficulty. There are many options; you just need to have the will to do it. Some examples: 

  • Becoming an assistant to a professional in your field.

  • Make yourself available for freelance gigs and put up a profile on sites like Upwork.

  • Teaching and tutoring. 

  • Creating a small business like an online store or a physical service. 

  • Reselling your possessions. 

  • Creating content online. Social media platforms and entertainment platforms like Youtube can be quite rewarding when you work on them in the long run. 

These are generalizations; you’ll need to do your proper research so that you can maximize your chances of making money with your chosen main hustle and side hustles.

3. Make Money

Saving money is wise, but making it is smart. Don’t spend the rest of your days worrying about every minute of spending detail. While being sensible with your money, putting some aside, and not overspending is good, it won’t make you a fortune. 

You should also consider that generating income and finding ways to make money will be your best move. So, be creative, tap into your talents, and find ways to generate income. This is a simple notion, but it can be overlooked. The best way to make money is still to make money, and it cannot only be about saving it. 

And as we’ve stated before, you can diversify the ways you acquire income. Yes, it’ll be difficult, but if you manage to find your market, establish a routine and stick to a plan, there’s always a way. Whatever the case, consistency will be key here.

4. Investing In A Scooter/Bicycle

You’ll need money for this, but it’d be smart to invest in an electric scooter or a bicycle to get around. Simultaneously, you’ll get in some good cardio daily if you do buy one of these. Transport costs can be reduced or eliminated. If you happen to have a car already, that’s good, but maintaining a car plus keeping up with the car’s needs can get costly as a student. 

Switch over to a bike or a scooter, especially if you don’t need to drive around too much and just need to travel short distances. This might not work for some cities, but depending on which state you’re in and where you’re living, there should always be a possibility. Make sure to check that out yourself, so you don’t have any nasty surprises.

Final Thoughts

We hope our advice helps our readers out one way or the other. Making money isn’t the easiest task, but everyone needs to make a living to survive in our world. Don’t get too frustrated, and don’t overthink. Take your time to weigh your options, and plan your next move.

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