Hey everyone. So today I thought I would make a post on how to effectively save money. These days I think way too many young people have no idea how to save their money. I have way too many friends and know too many people who are always complaining that they only have $20 left in their accounts and "can not wait until their next pay so they can go and spend their money". I'll give you a brief overview of my working life & savings habits and then share some of my best money saving tips I have!
Working Life Overview
- Pre-working life (under 14 years old):
- Typically got money off my mum every now and then when I asked to go to the movies or something
- Other than that the money I got came from birthdays, christmas and doing chores for my mum or my aunty.
- I used to always try and go by the "save half and spend half" rule
- First job (14-15 years old):
- Worked at McDonald's
- Wasn't very good at saving lots of money
- Would save for short term goals, i.e. concert tickets
- Mum used to make me save at least $20 each week from my pay into a savings account
- Having a key card was a bad idea: I didn't pay attention to what I would spend
- 16-17-start of being 18/the remainder of high school
- Didn't do 'formal' work
- Money came from babysitting over the years
- Saved all of that money to spend at schoolies (didn't spend it all- bonus)
- Post-high school/uni student life
- Became a workaholic
- Focused on the future
- Saves more money than I spend
- Got a job straight from school and have worked there ever since
- Each summer holidays I get an extra job (e.g. Christmas casual job and a seasonal theme park job)
- Work as much as possible during all holiday breaks so I can ease off a bit during uni time to study and focus on the uni work
