So it's time start paying things off like student loans and credit card debt, but you've become accustomed to a certain way of life.
Fear not — there are some simple ways you might not have thought about that can keep both you and your wallet happy. It's still possible to enjoy the more expensive things in life, even if you're not part of the top 1%: your daily finances might just need a few adjustments.
In order to begin saving money quickly for those of us who know money can't buy happiness but still try it anyway, building weekly spending budgets is a vital part in beginning the path to savings. As Mic has previously reported, one of the easiest ways to begin cutting your spending habits immediately is by preparing lunch before heading to work.
Bringing your own salad every day instead of hitting the closest shop will allow you to allocate that money toward other expenses, like rent or student loans. Including work lunches into your grocery list and savings will be immediately felt in your bank account.
Here are some other ways to begin saving money fast:
1. Automatically add a specific percentage from each paycheck into a savings account.
2. Look into investing in a credit card with rewards programs for leisure spending, instead of just doling out cash at every function.
3. Allocate a specific budget to groceries each month, with a focus on buying in bulk.
4. If student loan payments are draining your bank account, research whether you're eligible for income-based repayment programs and other loan forgiveness options.
5. You may be paying way too much for your monthly phone bill data. Check out cheaper, third-party plans.
6. Cut the cord. There are plenty of other ways to watch your favorite shows (and spend way less in a year), from Hulu to Netflix.
7. Your mom is right — turn off the lights and unplug your electronics after leaving the apartment. It's a small price to pay for a considerable dent in your monthly utilities.
8. Stop buying luxury brands. Wearing Prada to work is fashionable, but wearing knockoff is cost-friendly and just as stylish (unless you work at Vogue. Then don't get caught buying the fakes.)
9. Cut the nonessentials: there's no need to buy gum when you can ask a coworker (just, dear God, don't become a mooch).
10. Consider not going out every single night of the week. I know, I know, the horror. But seriously, the price of even "grabbing one drink with a friend" (which is never one drink) each night adds up to exorbitant prices.
Read more: How To Only Spend $5 On Work Lunch Every Day