Learning to save on splurges
When you need something, you’re more likely to spend too much on it. Today, our smartphones are like a limb—essential to make it through the day. It’s a purchase millennials will spend on—cosmo’s survey found that 93% of respondents owned a smartphone, with eight out of 10 using it as a primary source of internet access. It’s tempting to get sucked in by “fantastic” contract deals; it can feel like you’re saving when you get a phone on contract but if you don’t use the contract to its full potential, the deal is pointless.
Rather than spending hundreds each month on “free” minutes, SMS and data, save by juggling your phone and data use. Data bundles are very pricey, especially through cellular providers. To avoid wasting more money on an already expensive phone, consider alternative channels: place calls through Viber or What’sapp but get mobile data through Internet.org or Safezone.com.
When you start thinking critically about where your funds are disappearing to, you’ll realize that saving a couple of extra pesos definitely doesn’t have to impact your quality of life. Fiscal responsibility = analyzing each cent going out as much as you analyze each one coming in. You’re already savvy, but there’s room for improvement. It’s your time to be young and reckless—without being perpetually broke!