What advice can be given to a young man so that he can be able to save alot of money ?

in #finance6 years ago

View this answer on Musing.io

Truly, it's really tempting to buy a lot of things especially for young people who earns plenty of money. Nowadays, gadgets and all other technologies are keep on upgrading. For a young man to be more attractive in the opposite sex, they tend to impressed women by being on demand. They always wanted to have the latest things like cars, gadgets etc.. They always show that they are ready for anything. Meaning they should have a lot of money on their pockets all the time, which is not a good practice to have savings. 

What I can advice to a young man is to spend only on what he needs not on what he wants. They should have a specific plans on when and how much they should spend. If you want to have the latest gadget, go for it. But it doesn't mean every time there's new gadget on trending you'll do whatever it takes to get it. You should be contented on what you have. 

In terms of food, buy only what you will and what you can eat. Buy fruits and veggies instead of junk foods. Drink water instead of soda, it's cheaper and also healthier. 

Regards to health, always have a regular check up. Like the old saying from a Doctor, "Prevention is better the cure". Avoid illegal drugs and smoking cigarettes, it could less your expenses and gives you a better health. 

Aside from having a bank account, you should also have your own cash vault. You can also try to put your coins on a piggy bank, just like what I do. If you can live without credit card then good for you, temptation is farther.

By the way all these things are not just applicable to all young men out there. It could be applicable to all of us, and its very useful if we have the discipline to ourselves.


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