Older generations might pick on younger people for being self-centered and taking things for granted, but let’s face it: a lot of things were better in their day. Their college was cheaper, and job security was arguably easier to come by.

Today, however, there is the enormous advantage of having unlimited information at one’s fingertips. Sometimes we forget that this easily accessible wealth of information can empower anyone with an internet connection. Coupled with the power of youth and responsibility, millennials can save tons of money if they commit to due diligence. Below, this article will explore how.

No Replacement For Hard Work

Some people have the luxury of cruising through college life without having to worry too much about living expenses, as their parents graciously cover costs of rent or tuition. While this might seem like an enviable position to be in, there is a case to be made for learning self-sufficiency. Learning how to stay afloat as a college student will force you to build a foundation for your financial and professional future. In addition, studies show that too much parental financial investment might be doing kids a disservice academically.

Putting pressure on yourself to work doesn’t need to mean work taking precedence over all things joyful in your life. But it is worth it to finesse a balance between fun and your ability to properly maintain yourself in young adulthood. Your future self will thank you when you’re released into the real world and have to fend for yourself.

Get To Work On Your Credit


Having a good credit history will be a valuable asset for the rest of your life. When it comes to getting started on building up credit, the sooner the better. Some services are especially advantageous to students and young adults looking to pay off private student loans, offering perks like travel bonuses and rewards for good grades.

Good credit is a near necessity for anyone looking to obtain a loan for a mortgage. For those of us that haven’t been graced with six-figure inheritances right out of the gate, you’ll need to prove yourself reputable with lenders.

Embrace The Art of Frugality

Western culture might propagate the glamor of flaunting expensive things, but making purchases above your price point for the sake of a pretty Instagram post is a loser’s game. This doesn’t mean you need to resort to wearing rags and eating nothing but cereal, but consider the practicality of your regular expenses. Many companies offer discounts to students or recent grads with a valid student ID. Likewise, make sure to take advantage of a .edu email address while it lasts. Even big names like Apple and Amazon are among companies from whom you can benefit.

Plan Your Travels


Traveling around the country or abroad can be an exciting part of college and young adulthood. While being free-spirited and spontaneous about your endeavors may seem like some of the fun, it’s worth it to premeditate the options first. Many people are just trying to make a quick buck, and tourists and young people are at an elevated risk for falling for it.

If booking a flight, plan it out ahead of time and use resources available to you. Sites like Kayak allow you to compare prices for travel essentials like flight tickets and rental cars. Some people also believe that clearing your web browser’s search history and cookies is helpful since companies allegedly will raise prices for repeat searches for flight tickets. While this may or may not be true, it doesn’t hurt to play it safe, since we all know online marketing seems to get increasingly devious by the day.

Hostels are also valuable resources for travelers, trimming down the cost for room and board. Look into the choices available so you can enjoy your travels abroad in physical and financial comfort. Nothing puts a damper on a vacation into an exotic land like realizing the trip was a financial catastrophe.

Avoid Blind Trust in Financial Advisers


Hiring a professional to handle your savings or stock portfolio might seem like a responsible thing to do, but it also has the potential to be the exact opposite. The average person has access to incredibly valuable knowledge that simply wasn’t available to past generations. For this reason, it might be worth it to simply be your own financial adviser.

The world of financial advisory is sometimes intentionally laden with smoke and mirrors to make the prospective customer think it’s more complicated than it really is. Instead, educate yourself with resources online or pick a friend’s brain who is familiar in the realm of finance. This will also indoctrinate a sense of confidence in the event that you move or find another adviser.

Listen To Your Conscience

This might seem like a silly concept to list but many people have either lost or never developed a dialogue with their conscience. When faced with a decision to make a responsible decision, financially or otherwise, pay attention to the way each one makes you feel. For example, if you are out with friends and are deciding whether or not to have one more drink, the voice telling you not to is there for a reason.