12 Frugal Tips That Will Make Your Younger Self Proud

A Reddit user wanted to know what kind of advice people would give to their younger selves or other younger people to help them succeed in life. Here are some of the best tips we picked from this conversation.

Invest

Senior grey-haired man wearing suit holding dollars and using smartphone
Image Credit: Krakenimages.com via DepositPhotos.com.

One advised people to invest as much as possible, “I’m a natural cheapskate, which was great for saving, but it also lead to me thinking I could time the markets. Didn’t buy a house cause I thought the market was about to turn. Didn’t buy stocks during/after crashes ’cause I thought there was more to come etc. So I guess my advice would be to just invest, don’t try and time it.”

Track Your Expenses

young woman trying to budget
Image Credit: Elnur_ via DepositPhotos.com.

Keeping a budget will help you stay on the path to riches according to one user, “Track your expenses and know where your money is going and then learn to make and keep a budget.”

Avoid Costly Habits

Hispanic young adult woman smiling confidently pointing to own broad smile. take away coffee concept
Image Credit: kues via DepositPhotos.com.

Another user advised young people to be conscious of the habits they develop, “Don’t develop daily habits that cost a lot in the long run. Coffee and cigarettes are perfect things to never start.”

Learn How To Cook

young man cooking
Image Credit: AlexLipa via DepositPhotos.com.

Learning how to cook can save you money in the long run; according to another user, “Learn about safer investments early, learn more about cooking, and definitely learn about your nation’s political system before you have to start voting.”

Find Good Relationships

Couple opening door
Image Credit: Goodluz via DepositPhotos.com.

Another user advised people to stick to relationships that are not financially draining, “Leave the relationship that you think you can save with ‘presents, holidays, events, etc.’ to “take her mind off of her depression.” She’s not in a good place for a relationship, and it’s not your job to try and make it happen.”

Live With Your Parents

Concept of misunderstanding between generations
Image Credit: svyatoslavlipik via DepositPhotos.com.

Living with your parents will free money for investment, observed another user, “To younger people today: Live with your parents for as long as you can.”

Buy Second Hand

Women shopping in thrift store.
Image Credit: Image Source Trading Ltd/Shutterstock.

Do not go for new and expensive stuff if possible, “Buy less new, stick to second-hand for everything except intimates and quality staples that last.”

Work for Companies That Pay Decent Wages

Cheerful business people having fun
Image Credit: gstockstudio via DepositPhotos.com.

Do not work for a company that you realize is committing wage theft or not paying your super. They are not your friends; you are not ‘part of the team’; you are not ‘all in this together’. Do not sit and stew on it for any length of time. Start looking for an alternative and walk as soon as you have something.

Compound Your Returns on Investment

Man with money
Image Credit:
logoff via DepositPhotos.com.

Another user urged people to invest and reinvest wisely, “$1000 invested now at an average return of 10% (ambitious but not unachievable) becomes $2000 within a decade. The key ingredients you need to get wealthy are time and patience.”

Get Educated Early

Young university graduate woman isolated on pink background smiling
Image Credit: luismolinero via DepositPhotos.com.

A user urges young people to get educated early, “I’ll offer another perspective. I didn’t go to uni, and now I’m effectively stonewalled because all the positions above mine require a tertiary degree. My prospects of getting promoted are basically nill without changing careers, so here I am at 30 doing uni online while working and raising a kid.”

Budget and Account For Everything

young woman taking money out of wallet
Image Credit: kues via DepositPhotos.com

One user advises people to keep track of their money, “Make a budget. Account for everything. Set aside x amount of money per week for fun spending. Do not spend over that amount. Really taught me the value of money. Before doing this, I just didn’t appreciate it.”

Learn DIY Stuff

Repairman with tools
Image Credit: pressmaster via DepositPhotos.com.

DIY can save money in the long run, “Learn diy in your spare time. Choose any/all things that appeal to you and learn to do them for yourself. When times are tough, you can fall back on these skills to make money go further.”

Talk About Finances With Your Partner

Worried young African American couple looking through bills online
Image Credit: mark@rocketclips.com via DepositPhotos.com.

Find a partner who is keen on saving and investing as you are advised another person, “Make sure your partners’ financial goals/ideals match yours. Keep your finances separate from your partner, joint bills only. Buy a house within your means as early as possible. Don’t max out just because the bank says you can. Keep track of your spending always. Invest in crypto when low, and don’t panic sell like a numpty.”

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

woman warrior. woman holding sword
Image Credit: Avrora-Andrey via DepositPhotos.com.

Have you ever wanted to make a lot of money from a side hustle and quit your 9 to 5? You may know about the typical side hustles, but I bet you never even heard of these lucrative side hustles!

23 Side Hustles You Never Considered That Make More Than Your 9 to 5

9 So-Called “Frugal” Habits That Are Actually A Waste Of Time And Money

woman laying under knitted blanket
Image Credit: serezniy via DepositPhotos.com.

Not everything is frugal! I am sure you have read articles and tips that promote frugal living and give some ideas that are just not frugal! These frugal myths float around and sometimes even cost people a lot of money!

9 So-Called “Frugal” Habits That Are Actually a Waste of Time and Money

12 Things People Wish Had Never Existed

Mushroom Cloud of Atom Bomb exploded over Nagasaki, Japan, on August 9, 1945. World War 2.
Image Credit: Everett Collection/Shutterstock.

Throughout history, there are certain things that people deeply wish had never come into existence. These regrettable aspects of our world have caused pain, suffering, and lasting negative impacts. From inventions to events, let’s explore ten such things that continue to evoke a strong sense of longing for an alternative reality.

12 Things People Wish Had Never Existed

20 Things That Boomers Love That Are Hard for Us To Understand

Senior sporty woman smiling out of the pool with swimming goggles and cap in hand - active retiree enjoying swimming on a sunny day.
Image Credit: Lucigerma/Shutterstock.

There is a ton of stuff old people do that the younger generation doesn’t seem to wrap their heads around. However, it is a pattern, and everyone who gets old ends up doing the same things they couldn’t understand when they were young.

20 Things That Boomers Love That Are Hard for Us To Understand

19 Frugal Habits That Will Change Your Life

Portrait Of Young Man Taking Cold Shower In Bathroom,
Image Credit: AndreyPopov/DepositPhotos.com.

Committing to frugal habits will help you live a frugal lifestyle. Making frugal habits part of your everyday life could save you money in the long run.

Saving money is about creating a frugal life that allows you to save money on the things you don’t need and use them for the things you do need.

19 Frugal Habits That Will Change Your Life

This article was produced and syndicated by A Dime Saved.

Source