I normally don’t like it when an article tries to entice unsuspecting readers by claiming that something is super simple. Millennials already have a bad reputation for being impatient and demanding and these “click bait” article titles tend to reinforce those stereotypes.  The last thing I want to do is perpetuate that. But in this case, I just could not resist.

If you have followed any of my blogs over the past two months then you have been properly introduced to the doom and gloom that is the future of every Millennial. Normally, I am talking about how student loan debt is at a gazillion dollars or how Millennials won’t be able to retire until we are 90, if then. But this time, I bring a message of hope! This article outlines how you can make three small lifestyle changes to seriously beef up your savings, plan for the future, pay down debt or whatever! But knowing you, you’ll probably just go on another vacay! And if you know me, you know I could NEVER fault you for that!

Anyway, rather than letting me tell you that these steps are simple, put your thinking cap on, adjust the setting to “pretty easy read” and decide for yourself if these steps are actionable and useful to your everyday life! Then, comment so we can debate about it!  J

Stop Funding the Starbucks Empire

If you are looking to save some money you should start with your morning cup of coffee. Starbucks is a great company, but I am much more concerned with your bottom line than theirs.

As a non-coffee drinker, I cannot empathize or feel your struggle. Not even a little bit. Objectively, spending $4 on coffee per day seems like a poor decision for someone who is not already a millionaire.  I understand that coffee is addictive and that Starbucks has the best fix, but you need to find a cheaper alternative. Like Folgers… or something.

Action: Hide that Starbucks loyalty card! Instead, find your favorite mug or thermos and start making your own version of gourmet coffee delights right from home.

Savings: $1000* Annually

*I know you!! So, I added some cushion in for the occasional Starbucks Latte.

Stop Eating Out

 

After you have tackled your morning cup of coffee, let’s talk about your lunch!
From my experience working with Millennials, there are few things that we enjoy more than lunching and dining with friends. But, this madness must stop! And it is delicious madness indeed!

Let’s pretend that you eat out 4 times per week for lunch and once for dinner. This would easily add up to $200 per week. I have clients who were spending upwards of $500 eating out in addition to their grocery bill! While I am in no position to dictate your financial decisions, I do wonder how satisfying devouring your retirement will be in the long run.

Whether you are a foodie or fancy yourself a budding chef, I am going to need you to take your culinary efforts to the kitchen where your groceries will cost much less. Not to mention you will save on drinks and transportation while eating better and healthier food.

Action: Create a grocery list that will allow you to eat healthy things that you love for lunch! After going shopping, prep lunch meals for the entire week. Make it simple like delicious sandwiches and inventive salads that are yummy and easy to travel with. Then, on Friday, plan lunch with a friend from work and treat yourself. You deserve it!

 Savings: Over $5,000 Annually

Cut Your Cable Cord!

 

In the 21^st century, are there still people who are actually paying for cable? If you are part of the #dreamchase movement you should be far too busy changing the world or doing what you love to watch TV. But, on that rare occasion that you do have an opportunity to watch TV, are you sure that basic cable will not suffice?

If your basic cable is not enough for you, there are other options! Hulu, Netlfix, and Roku practically eliminate the need for anyone to pay upwards of $100 for a cable bill. Instead, pay about $30 per month on Hulu and Netflix and move on with your life in the 21^st century in a much more techno savvy and profitable manner.

Action: Pick up the phone right now and call your cable company. Tell them that you want to disconnect your cable. They will try to give you a special rate but it is a trap. Be strong and cut the cord!

 Savings: $600 Annually

So, rather than just taking my word for it, how about you tell me how simple these three action steps are. Do these changes disrupt your daily life too much? Are you willing to sacrifice today so that you can live better tomorrow? Just by following these steps you could easily  save $6,500 to pay down debt  or start investing.

Remember that the actions you take today will dictate the life you lead tomorrow. Carpe Diem!

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