More and more people from the younger generation are already trying to make it on their own. To live by their own means and make a name for themselves seem like the latest trend among the youth. If you want to try this as well, or you’ve already begun, you may already know that the early stages are the most difficult.
When you’re starting to build a career, your monthly income will not be as high as you want it to be. That’s why you must know how to use your money wisely. Don’t worry. This article will help you out. Here are some money-saving tips for solo living.
Tips on Saving Money
Living by yourself is a huge leap, and you have to be prepared for the drastic changes in your lifestyle. The good news is that it’s always worth it. You’ll learn a lot about life, money, and yourself when you begin living solo. Before you begin your journey, be sure to take note of these tips on saving money.
Necessity Comes First
When you were still living with your parents, you probably didn’t have to worry about food, clothing, house, and bills because all of them are already provided. However, you need to prepare for these when you start living by yourself. Make sure that you always buy the necessities first. Anything that’s not needed can come later when you’ve saved up enough extra money.
Know When to Call for Help
There are some house repairs you can do on your own, but there are also those that you can’t. Knowing when to DIY and when to call for help is essential in saving money. Otherwise, you might end up spending more of your money because of making the situation worse. For example, you probably have no idea how to fix pipes and water lines. You must know where to find a company that offers plumbing services. It might look like you’re saving money, but the truth is that you’re using it wisely.
Create a Budget
Do you want to know what’s the best piece of advice we could give to young individuals? Learn how to create a personal budget plan and stick to it. It’s the best guarantee that your money will go exactly where it needs to go. Ideally, half of your total income should be spent on your needs, 20% should be saved, and the remaining 30% can be spent on your wants. By using this method, you can guarantee that your bills are paid, you have food to eat, you get to enjoy once in a while, and you expand your savings.
Learn How to Cook
You have no idea how much of your money goes to takeout or delivery food if you’re not paying attention. It may seem like it’s just a few bucks, but in reality, the total price of your meals could reach a hundred dollars a week. Take the time to learn how to cook. There are lots of simple recipes for beginners you could cook on a budget. They’re not just good for the stomach but for the pocket as well.
While we’re on the subject of food, it would also be helpful if you plan your meals. Knowing what you’ll cook on a certain day will save time, reducing the risk of ordering food online. Here’s another helpful tip; if you’re planning to cook something, read the labels on the packaging and use those closest to their expiration date. This will guarantee that you don’t have any wasted food.
Maximize Your Freezer
If you don’t have the time to cook your meals every day, make good use of your freezer. Cook in batches or bulk instead, put the leftovers in a container, and place them inside the refrigerator. On your next meal, you could just pull these foods out and heat them in the microwave. That’s one helpful way to save time, energy, food, and money.
Of course, you need to have some fun. You don’t always have to push the pedal to the metal and burn the midnight oil every single day. Make it a point to relax, unwind, and take care of your mental health. We’re not suggesting that you party every night or spend your money on booze or a PlayStation 5. There are lots of budget-friendly alternative entertainment you could try to avoid breaking the bank.
We admire your courage in taking on this journey of living alone. While it may seem difficult at times, it pays to know that it’s conquerable. Know how to use your money wisely, and we can guarantee you that you can live comfortably.