Live By These 5 Life Hacks To Boost Your Budget

As a new generation of smart, internet-savvy young adults grows up and starts to look for new ways to save money and gain traction on this whole life thing, we have begun to ask ourselves if the traditional methods of living and saving money really apply to the cyber world and the new global network. This is not our parents’ economy, and because of that, we don’t have to have the same expenditures that they did.

With that in mind, check out the following 5 life hacks that can help young people save on the things that can be cut, and which items are essential and should be bought outright.

1. Cut Down On Expenses

We no longer need to buy fancy clothes and bags for big-deal events. Its expensive and then we’re stuck with the same formal clothes for every event. Instead, save money and rent designer clothes on sites like Rent the Runway, which sends different sizes for free so you can find something that really works.

2. Use Public Transportation

Also, for many, many young people, owning a car is no longer a priority. Buying your first car used to mean freedom, but now it means an unnecessary burden on our finances. Many are opting for public transportation and ride-sharing; it’s cheaper and it cuts our carbon footprints!

3. Buy Your Own Electronics and Wifi

With cyber protection such an issue, coupled with the fact that many of us use these devices for work, buying your own personal smartphone and laptop is a splurge that just makes sense. Coupled with this idea of electronic independence is buying your own wifi. Sure, you could steal your neighbor’s or do your internet surfing at Starbucks, but the channels aren’t secure and really, do you want to watch the new season of House of Cards on a glitchy borrowed wifi connection?

4. Rent Your Space

One way you can make cash, instead of just saving it, is by renting your place out! Airbnb is a fantastic example of how young people are looking at their lives, seeing excess (in the form of extra living space) and flipping it on it’s head to make money.

5. Sell Your Skill

Consider selling your photographs (or something similar). If you’re an amateur photographer, you can very easily sell your pictures to stock photo sites for cash, very easily. You make money every time someone uses one of your pictures, and you might even catch a glimpse of your work on TV sometime!