If we emphasize looking for incentives and ideas that favor savings among the youngest, it is because there is a tendency to think that in a certain age range one is still too small to think about a future or the standard of living that will be taken to retirement age
But the reality indicates that, the sooner you start, the better, because what it costs is to start with the habit of saving , and it will be made easier and more daily as long as a custom is acquired. As a young man, you can start with a smaller amount, and increase it as time goes by and there are better and more opportunities to create sustainable savings.
We are facing the most technological and best trained generation of all time and, nevertheless, still cannot be released in economic matters , given the difficulty of finding a job and accessing a home.
The great challenge is then, to achieve independence without incurring financial imbalances, and with a future plan for savings. Let’s look at some ideas to achieve it successfully:
Take advantage of technology
And yes, since we are facing the millennial generation , what better way to take full advantage of the tools with which they better get along. In this sense, using applications to reserve a monthly amount for savings is a great idea.
In this scenario, the mobile becomes the best tool to save. A good option is to use the bank’s own applications, but there are others that allow you to control expenses through various functions.
It is important to note that, to use these applications with all security guarantees, it is necessary to download only the official ones, and keep them well updated. Set goals. Each young person must establish savings goals that serve as an incentive. No matter what, the important thing is to do it in a realistic way so as not to get frustrated and end up abandoning the habit.
Compare before buying
Continuing with the technological line , and with the allied tools of young people, when purchasing a product, it is best to go to the social networks of the brand or the trade.
The objective is to find out the best offers, read the information that consumers share, and go to comparators where information on the best prices is offered in one click.
Before going out to buy, it is best to take a last look at the celu in case there is any last minute offer. Avoid impulse purchases and superfluous expenses. A good trick is to wait for a reasonable period of time to see if what you want is really necessary.
And in the worst case, if it is bought and then it is no longer needed or used, it is best to sell it through a second-hand sales application. An increasingly entrenched custom among young people.
Study how and in what to invest
To start, a monthly amount can be separated from the fixed income to gradually gain weight from the pig. If this custom becomes fruitful and you reach a considerable amount, you can think about investing the money so that it is redoubling its fruits.
Where to invest will depend on the economic context, so starting with savings when you are young is an advantage, since you can be much more aggressive since there is much more time to wait and restart if the calculations fail.
In short, the idea is to start with the basics, get a budget and determine what is the balance and the ability to save every month, then define the objectives. Transforming investment into a habit will be the key to success.