10 Bizarre Money Habits Making Millennials Richer

Refinery29 UK
Aug 7 · 4 min read

By Anna Davies

Image for post
Image for post
ILLUSTRATED BY JOSH MCKENNA.

Trying to save money can be hard right now — as the pandemic rolls on and we continue to feel the impact in our bank accounts, it’s hard to keep up the more high-tech ways to save money (though we absolutely advise you to try them out.) But there are some old-fashioned no-spend strategies that can make your money add up — sometimes pretty quickly. At first glance, they may sound weird, but they work. Ahead, try one (or a few) and tell us in the comments the strangest strategies you’ve used to successfully save some extra money.

Pick a denomination and save it. Always.
“I nanny, so I get paid in cash. Whenever I’d get £5 notes, I put them in a separate envelope. This money becomes my ‘fun’ money, so I know I can either take one out and buy a cappuccino, or keep adding to it and splurge for a fun dinner with friends.” — Courtney, 32

Have a spending jar for fun stuff.
“Every week, I take out £100 for fun, which includes lunch and drinks. And I put the cash in a jar I decorated on my desk. Actually having to pull money out means I’m super conscious of how I’m spending it, and also keeps me honest. For example, I only use that money, not my debit card, for fun lunches out, so if I don’t have the money with me, then I’m going to eat the lunch I brought from home, and not go out with colleagues.” — Janie, 27

Image for post
Image for post
ILLUSTRATED BY JOSH MCKENNA.

Skip the coffee; save the cash.
“I am so bad about buying lattes ‘just because.’ And I know the £3 adds up. So whenever I feel the urge to buy a latte, I make the crappy office coffee, and make sure to move £3 from current to savings. It’s a neat trick that actually makes me ‘see’ how much I’m saving.”
— Jessica, 23

Harness the power of recurring payments.
“I was paying £250 a month for my car payment. When I finally paid it off, I kept the ‘payments’ going into my savings account. Because I’d been paying it all along, I never missed the money, and it was so gratifying to see the money add up so fast in my savings account.” — Ramon, 30

Do your saving in short sprints.
“I feel like I can get really into savings for only a month. So in that month, I see it as ‘training.’ I bring my breakfast and lunch to work, I only do social events that are free (one time, I had a party at my house where everyone had to bring one bottle of alcohol collecting dust in their homes), and I just really push myself. By the end of my ‘spending fast’ I have a lot more cash, and I am more conscious of how I’m spending it.” — Luke, 27

Become your own bartender.
“When I worked at a summer camp, there was an honour system where you had to pay 50p for a drink from the fridge. I do the same thing at home to this day — £1 for a soft drink or £2 for a glass of wine. What’s funny is I made a list of my drink ‘prices’ on the fridge to remind my husband and I to be honest with it, and now, when our friends come over, they pay too…but they don’t have to!” — Rachel, 30

Image for post
Image for post
ILLUSTRATED BY JOSH MCKENNA.

Pay yourself for Instagram posts.
“This is so weird, but thinking about how much celebrities get paid for sponsored Instagrams made me decide to pay myself. For every photo I Insta, I (at least try!) to put £1 in a drawer!” — Cassie, 22

Make it easy to visualise what you’re saving for.
“I know it sounds cheesy, but I like to see what I’m saving for, so I made a vision board of the holidays I want to take this year. ‘Seeing’ Greece every day makes it so much easier to not go out for a £10 lunch!” — Liz, 29

Freeze your credit card. Yes, literally.
“Yes, literally, in a bag of water. I know it’s cliché, and it’s true that I could defrost it in seconds under warm water, but it did stop me from making impulse purchases.” — Marquita, 25

Originally published at https://www.refinery29.com.

Refinery29

Refinery29 is the #1 new-media brand for smart, creative…

Refinery29 UK

Written by

The leading global media company focused on young women. We inspire, entertain, and empower our audience through optimistic and diverse storytelling.

Refinery29

Refinery29 is the #1 new-media brand for smart, creative and stylish women everywhere.

Refinery29 UK

Written by

The leading global media company focused on young women. We inspire, entertain, and empower our audience through optimistic and diverse storytelling.

Refinery29

Refinery29 is the #1 new-media brand for smart, creative and stylish women everywhere.

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store