6 Tips to save money while adulting

The verb ‘adulting‘ has gained notoriety in pop culture as young adults in their early 20’s wade through the waves of change in their lives. It’s being pegged as a stage where you’re expected to have your life sorted out while still not being taken too seriously because “you haven’t seen enough of life” to form a credible opinion about anything. Our early 20’s are filled with fun adventures and lots of drinking so here are some tips to save money while adulting but they can necessarily be used by anyone.

  1. Eliminate all accounts that have high transaction fees – There are a tonne of banks out there that charge different transaction fees per transaction and for monthly maintenance. Sign up for or switch to accounts with low monthly charges and stop using accounts that don’t have their ATMs close enough to your place of work or near your home because why do you want to spend 4 times the fee to at another ATM. If you pay for several items using a form of payment that charges you every time you carry out a transaction (i.e. M-Pesa) you should switch to cash, aimless transaction fees really do add up in the long run.
  2. You don’t need that subscription – If you have decent internet then you don’t need to waste money on subscription services like Netflix or Show max. I don’t have anything against these companies but there are so many different websites where you can stream the shows you love and even watch live sporting events. It may involve trying out a few streams and enduring some pop-ups BUT it’s free. Try out sites like 123Movies or Project Free Tv.
  3. Eat healthier – This one might seem a little out of place but think about it, really think about. If you’re healthy and don’t fall sick a lot, you save money that you would have spent seeing a doctor, buying medicines and missing work to recover from whatever sickness you have. With a little more attention to what you eat and exercising you can be more productive and not have to spend on money on seeing the doctor.
  4. Spend less time on social media – We all know the feeling of scrolling down our feed and seeing a friend on a fancy holiday or something that’s out of YOUR budget. Seeing such posts just add to the societal pressures that tell us we need to spend to feel adequate. Resist the urge of logging onto social media when you have nothing to do or and feeling bad about yourself. Your time will come and you know that.
  5. Defer spending on a BIG purchase – Now I know there might be instances where you need to make a big purchase and you need to make it right away, like a new laptop for work or a new TV to watch the World Cup (just kidding). I’m not talking about this kind of purchase; if you want to buy something that you need (but not urgently), hold off buying it for at least 2 weeks. This way you’ll realize how badly you need it and if it’s worth spending so much on that item (or if you can make do with a cheaper option). Also, we have the Internet now so we can know when the prices of something we like drops.
  6. Pay yourself first – You’ll see this piece of advice in 95% of all personal finance books and there’s a reason for it. Once you are able to build a culture of paying yourself first and working with a little less money every month, you’re able to better manage your money AND you’ll have some money for emergencies that are a part of this beautiful thing called life.

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