As the reality of grown-up life kicks in, it’s easy to see how money worries can mount up and start causing problems, especially as the rest of the world seems to be living that Instagram-life of constant new stuff and exciting adventures.
But it’s not a total ‘mare. The reality is, despite what you see on Insta, we’re all in the same boat and with a bit of effort and some know-how 26-year-olds (and anyone else who feels the fear) can try and turn it around.
Why not try these tips to tame the terror you get when you check your bank balance?
Start with small savings goals and build them bit by bit
However hard you put your mind to it, you aren’t going to change the spending habits of a lifetime overnight. Start with small changes to your lifestyle that will help you save money, and then add to these each month. So, for the first month why not make a small change like cutting out a takeaway or weekly coffee, then for month two continue doing this and set yourself another savings challenge. Perhaps cutting down on one meal out a month or committing to only drinking home-made coffee. You’ll be surprised how quickly the money saved can add up, just by adding another savings goal each month!
Make technology your friend
While technology might make it easier for us to spend on a whim, there are lot of apps and solutions to help you track spending and manage your money better. Banking apps are a great way to keep tabs on where your money goes and, like they say, knowledge is power.
Learn from an expert
The older we get, the more financial responsibilities we take on and it can all get a bit overwhelming. But try not to panic. There are people and groups that can offer you support, tips and even money management plans, no matter what your financial situation is, and for free. If you need some advice, consider speaking to the government-backed Money Advice Service, contact the Citizens Advice Bureau, or speak to your bank. Several British banks now offer financial service and advice initiatives for their customers free-of-charge.
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