Where to invest money? How to save up and what to save on at 23

Where to invest money? How to save up and what to save on at 23What to save on when you are younger what to save in youth. In times of deep and protracted crisis, many of you probably want to start saving, but do not know how to do it right. Some argue that they simply cannot refuse what they are used to, while others rush to extremes, starting to deny themselves everything. In my opinion, neither the first nor the second are right, because if you learn to save correctly, your standard of living will not worsen at all. Below is the answer to the question of what to start saving at 23 to save up for housing. Advice is given by a real person what is called on his example

Popular tips that didn’t work
My main expenses were:
Car and transport costs
Rental housing and services
Food and sports
Limitless Entertainment
What can I advise?
Popular tips that didn’t work
For the first time in my life, I decided to start saving at the age of 23. It was connected not with the crisis, but with the fact that I wanted to buy my housing. At that time, I was already freelancing and earning quite well, but this was not enough.

Deciding to start a frugal life, I went to the Internet and read many articles on this topic. Everywhere I came across the same type of advice: turn off the lights, do not drink, do not smoke, walk more or ride a bike. I do not argue, all this probably works, but none of the listed options suited me.

Since childhood, the fact is that I used to turn off the lights and TVs in those rooms where I am not. I also do not drink or smoke so that I can save on these bad habits. Walking or cycling more is also not my option as I have a car and I am the kind of person who enjoys driving.

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In times of even an exceptionally severe and deep financial crisis, it is quite possible to do without strict restrictions on food and entertainment and not tighten the savings belt to the limit – just follow the recommendations below exactly and the crisis will pass painlessly for you.

How did I start saving?

When I realized that the standard money-saving methods didn’t work for me for one reason or another, I decided to take a look at my main expenses and figure out how I could cut them.

My main expenses were:
refueling the car;
her service;
renting an apartment and paying for all services;
food;
gym;
constant trips to cafes, clubs, and other entertainment venues.
Car and transport costs
So let’s start analyzing. As I said, a car means a lot to me, so I simply could not save on the first two points. I also recommend you to calculate everything if you decide to drive your car less, replacing it with public transport.

I will give a personal example. I have a job that pays on time: the more orders I complete, the more I earn. Accordingly, if I give up my transport in favor of public transport, I will spend much more time traveling from point A to point B. Of course, this will allow me to save on gasoline, but I will lose precious time during which I could earn.

Rental housing and services
I didn’t manage to save money on renting an apartment either, since I already rented the simplest one-room apartment. In terms of services, I can advise everyone to install resource meters (ie meters) if you don’t already have them. This will cut down on your utility bills – I’ve seen it from personal experience.

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Food and sports
As it turned out, you can save a lot on food, and it’s not difficult at all. Try to give up junk food and all kinds of frills: stop buying ready-made convenience foods (pizzas, frozen french fries, mixed vegetables, etc.), give up sweets, chips, and crackers, as well as other harmful products. All this costs money is eaten in a matter of minutes, does not saturate the body, and does not bring much satisfaction. In addition, it is harmful to health. I was able to easily give up all of the above.

The gym is also not something that could be saved, since my well-being, overall health, and appearance depend on it. By the way, it was the gym that helped me to abandon harmful foods in favor of complex carbohydrates (cereals, durum pasta), protein foods (meat, fish, chicken), and fresh vegetables that I buy on the market.

Limitless Entertainment
Here we are approaching the main item of my expenses – this is entertainment. Giving up the weekly clubbing and cafe visits 2-3 times a week was not easy, as it has been part of my lifestyle for the past few years. The problem was solved by itself – I met a girl with whom we moved in and spent time together. Of course, we go to clubs and cafes, but not as often as I did before.

What can I advise?
Summing up, I have to give you some recommendations. Firstly, I would like to advise all those who like to leave money in clubs, casinos, and other expensive establishments to find more economical entertainment. Everyone has their interests, so I can not advise something specific.

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Secondly, learn to analyze your expenses. Before each major purchase, ask yourself the question, do you need it, or can you get by?

Thirdly, I advise you never to save on your health and well-being. If you want to go in for sports, it is not necessary to sign up for an elite fitness center. Start with something simpler and cheaper, get involved, and only then decide if you are ready to spend more money on it?

And by the way, having learned to save money and saved up enough money, I bought a plot of land on which a house was built during the first year, and repairs were made during the next year. Finishing work is underway, furniture is being installed and assembled, the seams in the tiles are being rubbed, etc. Soon you will need to arrange a move, but that’s a completely different story.