Every millennial has confided with a “Bro, I am broke,” at one point or to the other. And we can relate pretty much. We are the generation of the urban poor, the working class that earns enough but is unable to get by with the same budget because they have too much to spend but too little in terms of earning. No matter what is your pay scale, these youngsters are everywhere, looking for an alternative, trying their hand at freelance work, hoping to make that extra buck. What they don’t see is that they have all the money they need, only they are not judicially utilising it anymore.

The fact that people are dissatisfied with their pay has got more to do with the things they can’t seem to buy or the parties they can’t attend by the end of the month and less to do with their personal disenchantment with their profession. It is quite easy to pass the buck, and ask for money and then find yourself in the vicious cycle of borrowing money. But the problem doesn’t stop at the woes of the wallet. Too many of the so called millennial generation has internalised the fact that they need earn more, you have got to spend more. This very disillusionment has the young backpacker going on an overseas trip and exhausting his/her saving. The same cacophony has them believing that they party every night even if it is not the weekend and you have got to stay up in the game.

1. Make a monthly budget and learn how to manage your earnings. The surplus is the key to not being broke. That surplus my friend is known by a magical word called SAVINGS
2. Find cheaper alternatives for commuting. Carpool or look for alternative means of transport that can get you to work by a cheaper fare, so what if the local bus takes a little more time, think of all the ideas you can conjure up while commuting.
3. Public transport is a God gift. Yes you can tolerate the crowd. Do not let anyone tell you otherwise. You is strong, you is kind and Public Transport is important. Look at New York City, where everybody prefers the sub that don’t even bother to learn how to drive.
4. Pitch the Want vs Need argument every time you feel the urge to splurge. “Do I really need this?” a question that has broken many shopaholics out of the shackles of the inevitable need to spend.
5. Shop alone, it will work both as therapy and you will be surprised to see how much lesser you spend. You don’t always need that big gang of girls parading beside you or your besties whispering in your ear, “This would look good on you!” When you shop alone you are able to weigh the true need of a product that you intend to buy.
6. Learn to cook or explore Tiffin systems that are both healthy and easier on the pocket. Eating out everyday cannot be an option. It will mess up your immunity, give you the wrong eating habits and will obviously pile up the bills. Spend on fruits, milk and other healthier items, like Green Tea, yes, no, maybe?
7. Learn to say no to peer pressure. Every time the crew decides to party, you do not have to fall in the trap, you can very well tell them that “No means no!”
8. You don’t need to go for every party, space out the evenings you need to hit the road. In turn you space out your expenses when you do that.
9. Make a promise that asking for money is not an option, even if they are your parents. You cannot want more things if you can’t pay for it. Have some pride for the love of God!
10. You can live a smart life by just saving 10%. The golden rule is just 10% of your earnings is enough saving for the long-run.
11 Plan your investments and see what you can do with the extra money you are saving. You need to look ahead and plan for the long-term. Do not be blinded by the glittering lights, you can invest the same money wisely and reap the benefits later.
12. Try travelling on a shoestring budget. It will be fun, trust me. You can explore places, satiate that wanderlust you think is so necessary to purge and you will enjoy learning the paths of an unknown journey without making it an expensive deal.
13. Learn to give yourself treats for being good, it will keep the devil soul alive and kicking, instead of craving for more. You can reward yourself and there is nothing wrong with that.
So the next time you tell your friend that you are almost out of money, or you think that you don’t have much to reflect on in terms of your bank balance, take a deep breath and analyse where you are going wrong. And remember, one wise man once said: Nothing is easy in the matters of money.

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