This week on “Things you should know about money in your 20s”, action speak louder than words!

1. Personal finance is 80% behaviour and only 20% head knowledge

People would tell you all the tricks and hacks to save money, but you’re the one who’s in control eventually. You are your own behaviour, if you don’t make a change in your spending habits, nothing’s gonna change even if you have a headful of financial knowledge. Work it!

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2. Eating out eats your money

Dining out can be quite expensive if you want to stay within your spending budget. It’s better to cut this unhealthy habit (to your wallet and your body) asap. You’ll be surprised by the money you could save just from eating at home. After all, it doesn’t hurt to eat out every once in a while, but not every meal, cuz each meal out could add up to a haunting amount of money that’ll make you regret everything.

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3. Just say no

We’ve all had that moment when your friends ask you out for dinner, drinks or a night out, but you’re on a budget. You either make up an excuse to avoid the occcasion, or worse, go with it and leave your budget to struggle. Peer pressured spending is one slippery slope, that’s when you make all the purchases which you’ll regret later at night. You should keep it mind that you created your budget and you will stick to it no matter what. Saying no doesn’t make you a jerk, simply tell your friends you’re on a budget (they’ll understand if they’re really your friends).

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4. Always look for spending reduction opportunities

Spend less, and save more. Easier said than done, but if you try hard enough, the result might surprise you. Cutting unnecessary costs is the first step. Alway be aware of chances that you could lower your spendings. For instance, stop buying bottled water, and carry your own refillable water bottle. Or even simply look out for price reductions, sales, or coupons. Start small, and work your way up.

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