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Start Spending Less, and Earning More – Zeux – Medium

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It’s the dream isn’t it? We’d all love a magic button which suddenly lowers prices and pushes up wages, but alas, most of us accept that we’re limited by our money.

Well, that just isn’t true! Whether you’re a graduate, young professional, or seasoned veteran, there’s always a way to start spending less and earning more.

Research suggests millennials can be quite carefree with their money, or go about saving the wrong way, so now it’s time to talk about the ways we can improve our spending habits, and make the most of those consequent savings.

The first step is to know your necessities. Most of us are unaware how much we spend on ‘stuff’, but ask yourself exactly what do you really need? Have more clothes than you can fit in your wardrobe? Subscriptions to Netflix? Spotify? Amazon Prime? Order takeaways a bit too much? Cutting back on a few of these ‘nice to haves’ can make a difference, an extra £100 to £200 in the bank? Yes please.

Next step. Make simple substitutions. In all aspects of life there is a cheaper option. To take an example, every lunchtime you pop over to your usual food place, and spend £6 — £8 on a chicken wrap / pizza / sushi. That’s approx £40 per week! It’s time to substitute. Perhaps swap out an Itsu for a Tesco equivalent, or a freshly made wrap for a ready made one, saving up to £4 on your lunch every day.

By applying just these 2 steps into your daily life you could be saving almost £1,200 per year!

All this, then, should leave you with a tidy surplus over time. The question now is, what to do with it?

The basic idea we’re communicating here is to put idle money somewhere that can make a return.

Well, by now we should already have recognised that by creating a monetary surplus with our money, we’re keeping a greater percentage of our earnings. But what’s better than putting money aside, it’s putting it aside and making it work for you.

The basic idea we’re communicating here is to put idle money somewhere that can make a return. This doesn’t have to be a huge figure, even bit by bit is a good start, it is a positive and satisfying way of making sure your money is making money.

In summary, this article has been relaying an easy but commonly ignored formula, which is to spend less and maximise your surplus. Expect some more detailed content on investment in the future, but for now, we hope this article has given you something to think about, and the next time you’re out, buy a cheaper lunch!

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