A Step-by-Step Guide on To Saving Money in Your 20s
The complete breakdown of the process I perfected over eight years to save maximum money on a tight budget
Saving money happens with the culmination of two reasons: a sense of purpose, which answers the question of ‘Why save money?’ and motivation, which answers ‘How do I keep saving money?’. I imagine these two factors as the foundation on which money-saving habits are built on. When either one of these is missing, the habit falls apart.
When I first started saving money in 2013, I was really motivated to save money, but I had no sense of purpose. My motivation stemmed from my parents, and I saw how hard they worked behind us and how they cut down most of their costs to save money to fulfill our needs. My motivation was driven by wanting to help them reduce their costs over me. Though I started saving money to help them, I had no sense of purpose. I was not sure of what I would do with all the money I would save. This hence pushed me to phases where I would save a lot of money in three months but end up splurging all of it overnight — during moments when the vexing question of ‘Why am I doing this?’ would not stop gnawing at me.
After four similar cycles of saving and splurging, I understood I need to plan what to do with all the money…
