Personal Finances Tips for the Millenials

If you’re a millennial, you’re not new to instant gratification. In fact, you may live life with instant gratification at the center of your universe. That’s not hearsay but truth for many of us millenials. Which is why it’s hard for millenials to achieve financial freedom. But it’s not impossible either. With the right mindset and habits, you can get ahold of your finances successfully. To help you along, here are some personal finance tips that might help:

Learn to save first

Saving for the rainy no matter your age or lot in life is a must for financial success. While saving is not as gratifying as a shopping spree, it does bear fruit you’ll reap for a long time if you stick with the habit. So even if it’s a hard habit to master, do it anyway if you want to survive financially. Save first by deducting it immediately off your paycheck. Then budget what is left for expenses and the essentials. If you still have left after expenses than you can indulge for a shopping treat or a luxury knowing your savings safe and intact.


Learn to say no

Saying no to instant gratification is a constant struggle for majority of millenials. This is why most of these people don’t have enough savings set aside for the long haul. This is also why you need to start learning how to say no starting today. Remember that life isn’t all about pleasure. If you keep giving in to the temptation of instant pleasure then you’re risking a future that’s full of financial hardships. Learn to say no today and you can expect a better future at least financially.

Focus on the future

One of the dangers of living in today’s day and age is our overt focus on the present. We all want instant success, instant pleasure and instant money. Real life, however, doesn’t work like that. To understand the value of life-changing habits like saving, you need to shift your focus from the present to the future.  By focusing on the future, you’ll be able to adjust your financial decisions and habits in a way that will benefit you most come retirement time.

Set financial goals

No matter your age or where you’re at in life, financial goals help. Realistic financial goals, in particular, will direct you to the right financial path. Set both short-term and long-term financial goals. Short-term goals will help you get through the present challenges and long term goals will keep you going until you’ve achieved your financial goals.