Budgeting as a Millenial seems to be harder than for those before us. In many ways, Millennials are far more advanced than the previous generations. With technology, their lifestyles are savvier and Millenials are more vocal and open-minded. However, one can argue that we are not as thrifty as those who raised us. 


We’ve been criticised as careless spenders and slaves to capitalism. Still, there are little changes that you can make (without compromising your lifestyle) that will help you save a few hundred bucks.   

Associate money with freedom, not with things.

The more you have in the bank account, the more you feel secure. Budgeting as a Millenial will be easier if you have more choices, you are relaxed and people see this.

Train yourself to be unhappy if you don’t save a specific amount of money every month. 

I know this sounds harsh but once you get used to saving let’s say $500 every month, you will start making choices and choose a lifestyle which will make you save enough.

Don’t listen to the majority, especially coworkers. 

Everyone is confused and very few people have a basic understanding of the economy. This is the reason why they are workers and not entrepreneurs and business owners. For them, money is an anti-depressant.

After grueling hours and unfulfilling careers, they buy cars, a house, jewelry to feel better about themselves and their job. Often this leads to people competing with each other over who has more style and more “money.”

Under the surface, many people are only a paycheck from bankruptcy and really this is not a very secure way to live your life. If you can’t be relaxed when you buy things and know that you have emergency savings then you should consider yourself poor and put a plan in place to protect yourself financially.

Always learn new things. 

This will keep you busy and can bring you additional income.

Everything you need to learn is freely available on the internet. 

Don’t be lazy and don’t pay for expensive courses when the topic is something that you can learn easily by yourself. With YouTube videos and Google search available with just a single click, you can learn anything from baking to changing a tyre from the internet.

Repair clothing instead of tossing it.

Don’t toss out a shirt because of a broken button – sew on a new one with some closely-matched thread. Don’t toss out pants because there is a hole in them – put in a patch of some sort and save them for times when you’re working around the house.

Most basic sewing jobs can be completed by anyone, and a little bit of practice goes a long way. Learning basic sewing skills is a great way to save some money – and extend the life of your clothing.

Avoid convenience foods and fast food.

Instead of eating fast food or just nuking some prepackaged dinner when you get home, try making some simple and healthy replacements that you can take with you. An hour’s worth of preparation one weekend can leave you with a ton of cheap and easy dinner and snack options for the following week.

Also consider breaking out the old’ crock pot for some inexpensive meal options that not only save money but time, too. For those times when you simply can’t avoid dining out, maximize your savings with coupons and a rewards credit card that gives a bonus for restaurant spending.

Turn off the lights.

Keeping the lights on in your home may not be expensive on a per-watt basis, but it sure does cost money over time. To save as much as you can, turn off lights any time you leave your house – or even when you leave the room. Turning off lights when you have plenty of natural sunlight can also help keep your electric bill down over time.

Cancel unused club memberships.

Are you paying dues at a club that you never use? Like, for instance, a gym membership or a country club membership? If you’re on the fence about any of your memberships or find that you’re not using them very often, cancel them. Remember, you can always renew the membership at a later date if it turns out that you actually do miss it.

 Avoid the mall.

The mall might be a fun place to people watch, but it can also be packed with temptation. That’s why you should avoid the mall unless you actually need to purchase something. Trust me, window shopping when you’re on a budget can be torture.

Unburden yourself and find something else to do when you need some entertainment. A walk outdoors, a fun puzzle, or a good movie can easily replace your regular mall shopping adventures.



Exercise more.

Go for a walk or a jog each evening, practice stretching, or partake in some light muscle exercise at home. These exercises can be done at home for free but can lead to huge benefits for your health. Just set aside sometime each day to get some exercise, and your body and wallet will thank you.

Staying fit can benefit more than just your waistline. Good health can also bring more wealth your way by helping you save money.

Making certain lifestyle changes that will save you money could be a smart move if you’re working toward a financial goal, like saving up for retirement, planning for a large purchase, building up your emergency fund or cutting back on spending.

Budgeting as a Millenial is as easy as setting aside any extra cash you save to become healthier for the future. Why not share your own tips for saving some money every month with friends and peers?


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Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


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