It’s true that you should grind in your 20s so you can retire comfortably by the time you’re 50, but that doesn’t mean completely depriving yourself of the good things in life.
Check out the following saving tips for young adults that still keep fun in the mix.
Here are some saving tips for young adults.
Choose quality over quantity
No matter what you’re purchasing, think quality over quantity. Whether it’s shoes, gadgets, or trips, think of items or experiences that will improve your life the most.
While it’s more expensive on the surface, these things tend to last longer and are more resistant to passing trends, so you get to use them season after season.
Opt for lunches over dinners
When meeting up with friends or even just treating yourself to a nice meal out, choose to dine during the day rather than at night. Prices are typically lower during the day compared to dinner menu rates.
Apart from this, dinners out usually lead to drinking–whether that’s a glass of wine or two during dinner or heading to a bar afterwards. You can still have your glass of wine during your daytime meet-up at a cheaper rate.
Cook your own meals
When it comes to something you shouldn’t scrimp on, that’s the quality of food you eat.
You should always ensure you get enough fresh greens, protein, and fiber in your diet. You don’t need an expensive diet subscription plan to do this, though. There are tons of free recipes and YouTube guides on how to cook gourmet-quality healthy meals.
Head to your local market or grocery and check what’s fresh that day. Search for recipes you can make with those ingredients.
You might surprise yourself and even discover you have quite the knack for cooking!
Get creative with your romantic dates
Movies and candlelit dinners aren’t the only definition of a romantic date. There are a lot of ways to woo your partner without bleeding your bank account dry each time.
You can have a fun bike ride around BGC or Intramuros, head to the local deli and pick up a bottle of wine and some cheese for an afternoon picnic date, or go to Dangwa and pick out flowers you can arrange together.
All these are fun and memorable dates that don’t cost more than P1,000.
Invest early
When putting aside money for tomorrow, remember that it isn’t enough to just save. Putting it in a bank account is essentially just freezing your money.
If you want to make your money grow, you need to invest it. There are different types of investment products and vehicles, so you may want to consult a financial advisor to guide you in choosing the best investment for your financial goals.
You’re only young once, but that doesn’t mean blowing off your entire paycheck in one go each month. There’s a fine line between enjoying what you’ve earned and putting away money for tomorrow. Learning where it lies is an essential life skill.
Metrobank has a variety of investment products available for you. Start investing meaningfully with Metrobank today.