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I often get a lot of questions about how I afford to travel for 6 months or how I bought my own car without a loan and a lot of other money-related questions.

Anyone can be rich in their twenties or any age for that matter, all it takes is being smart with your money, know how to spend it, what to spend it on and when to take a step back. I have listed below my top tips on how I manage my money and stay rich in my 20s!

Want to set up your life to never have to worry about money? This MUST start in your 20s! When your rich in your twenties it will continue through your whole life. Click the image to find the 12 ways I have become rich in my 20s!

Stop Buying Just Because It’s On Sale

Is this a hard habit to break or what?! When something is on sale I really have to force myself to take a step back and think do I really need this or am I just buying it because it’s cheap. I can’t tell you the number of clothes I have had to get rid of with tags still on simply because I bought it on sale but didn’t really like it that much. 

I like to think I am slowly getting better at stopping this habit because throwing those clothes out really helps me to see how much money I have wasted and I think to myself how much better spent that money could have been. Wasting money on things just because they are on sale is a sure way to stop yourself from becoming rich in your twenties.

So let do this together, shall we? Every time we are about to buy something, especially if it’s on sale we need to ask ourselves, do I really like this item and do I really need it. If it’s a clothing-related item think about how it will fit in with all the other items in your wardrobe, am I able to make a whole bunch of other outfits with it? The answer needs to be yes.

Get In The Kitchen

I know that a lot of us use the excuse ‘but I don’t know how to cook’ but you can’t live the rest of your life using that excuse. Buying food at restaurants or cafes or getting uber eats delivered to your house is crazy expensive when you compare it to how much it would cost if you were to make the same thing yourself. 

I will admit I do struggle in the cooking department but I still make it work, I am a huge salad lover so lucky that doesn’t really require much actual cooking so I love to experiment with different salad combos. If that’s not your things then find something that is. Start small and learn to cook 2 or 3 meals that you really enjoy and you can build from there. 

Cut Back On The Coffee

Okay let’s work this out, 1 coffee per day costs $3 for example, buying that 7 days a week for 1 year adds up to $1,095, that’s another one thousand dollars every year that could be put towards saving or something else more important that you need. Making your coffee at home is okay, you can find a type that you like and stick with it. Put it in a travel mug and drink that on the go instead of buying one.

Think Wants vs. Needs

Just because you want something doesn’t mean you need it, always keep this thought in your mind when buying something, it can save you a lot of money.

Buy For Quality Over Price

Just because we are talking about saving money doesn’t always mean we need to go for the cheapest option. Investing in more expensive items that will last a long time will save you money in the long run.

When I was travelling around Ireland it was absolutely freezing so I needed to buy a new jacket because I didn’t have anything warm enough with me. Instead of just going into any shop and buying the cheapest jacket I could find I actually did a little research shopped around and found one he was a little more expensive but I knew that I really liked it and that I would continue to wear it at home in the winter and would at least get a few years wear out of it. Instead of just going with the cheapest option and throwing it out then having to come home just to buy another new jacket.

Don’t Always Buy New

When I turned 18 and bought my first car all I wanted was the newest model but my mum talked me down and made me realise I didn’t need the newest one I could find one that was just as good a few years older and a whole lot cheaper. Now 4 years later I still have that same car and there would be no difference now whether I bought the new one or not except that I saved a few thousand dollars that later was spent on an amazing holiday.

Look for second-hand things where you can and where it is reasonable to do so, you will save a lot of money and get the same thing.

Break Down Your Savings Goals

It can be extremely overwhelming to say you want to save $20,000 dollars this year, but breaking this down into small manageable chunks can make this goal more realistic to achieve. This is also another way to make sure that you can actually save that much with the amount you earn and you aren’t setting a goal too high in relation to that.

When I was planning to save for my 6-month travel I was aiming for $30,000, doesn’t that sound super overwhelming to hear like that? But I broke that down into months because that’s how often I get paid if your paycheck is weekly or fortnightly then break it down into that. So I knew I had 1 year and a half to save this so I broke that down by months to $1,666 p/m and looking at that number is much more manageable. I knew I was able to reach that goal by making a budget, which leads me to the next step:

Create A Budget And Stick To It

The first step is to write out all the bills you need to pay. I still live at home with my mum so my living costs are very low, I needed to pay for board, phone bill and car insurance, service and registration. It is really important to calculate these yearly costs into your monthly or weekly budget so that you have the money to pay for it when the time comes around and you don’t have to take money out of your savings to pay for it.

Then write down the costs you need to live, such as food, petrol, anything you need to buy and then just a little bit extra for fun activities like catching up with friends or going out because even though your living on a budget you can still have fun! Now just deduct all of these expenses from your pay and this will leave you with how much you can save and if this number isn’t as high as you needed it to be have a look at all your expenses and see if any can be lowered. Do you really need such a high phone bill or can you drive less and take transport to save on petrol?

Paint Your Own Nails

This tip really hits home for me, I love to have my nails perfectly manicured and I love the luxury of going to the nail salon and have someone pamper you. But unfortunately this is just not something I can justify paying for on a regular basis, sure I will go and treat myself every once in a while because we all deserve to have a little treat every now and then. Not going every single month will save you a lot of money in the long run that can be put towards a better use for your long-term life goals.  

Don’t Work Just To Earn

Being rich in your 20s doesn’t only just relate to money, you want to be rich in life experience as well. So take that free course that your work is offering because you will never know when you might need those skills or when they can get you a little further in life.

See The World

Another life experience you need. Travel is the best thing I have done with my life so far, I’m still travelling as this post goes up and I have no plans to stop anytime soon. It has taught me things I could not have learnt anywhere else. Your 20s are the best time to do this as it’s generally the time in your life where your least likely to have any huge commitments you can’t leave behind, so take that trip and never look back.

Want to know how I saved to travel for 6 months? Check out this post!

Invest in yourself

How do you expect to be rich if you’re not investing in yourself? Self-investments are the best kind of investments you can make in life, so make sure you are constantly growing and learning.

Here are the FREE ways I invest in myself!

Wake Up Early

No one got rich by sleeping in, set an alarm and wake up.

BONUS: I have linked some awesome places for more millennial money advice here:

  • Millenial Money Diaries – Shannah has an awesome podcast all about money saving for millennials, she also offers courses you can enrol in as well as really insightful blog posts!
  • Your Millenial Money – Jing writes all about personal finances and shares her own journey in taking control of her money, she really makes you feel like you can too!

Which tips are you going to start using in your life today? Leave a comment below!


Want to set up your life to never have to worry about money? This MUST start in your 20s! When your rich in your twenties it will continue through your whole life. Click the image to find the 12 ways I have become rich in my 20s!