Waste not, want not should be the money mantra for 2018.

Gen Y (millennials) are said to characteristically exhibit poor finance management. Defined as those born between the 1980s and 2000s, millennials are associated with impulse buying and charging up their credit cards. It has been reported that only one in five millennials is totally unencumbered by debt. The good news, however, is that with a little know-how, one can get back on track with savings and finances. So if you are a millennial, this is a must-read.

Stay, Don’t Stray

Before hitting your favorite shopping haunt, make a list of what you need first so you don’t end up hurting your bank balance. A grocery list, for instance, will also reduce wastage as it helps you focus only on items that meet your lifestyle and meal requirements. SO make that shopping list, stick with it and don’t stray.

Spring clean to sell

If your closets are bursting at the hinges with unused clothes and you have one too many PlayStation game discs lying around, it’s time for some spring cleaning to tidy up your living space, and also make a quick buck while you’re at it. Find a recycling network online or set up a neighborhood garage sale to clear out the old and fill up your wallet.

P.S: Elanic is a highly recommended option.

Say ‘NO’ to Credit

Make it a habit to settle the entire monthly credit card amount when it is due. Accumulating credit is not a wise move as you continue paying interest for whatever amount that remains unpaid on your credit card bills on top of the cost of your purchase. This accrued sum is difficult to get rid of as time goes by and will cut deep into your finances.

A Home Affair

Frequenting eateries and watering holes for social engagements will cost you plenty. It is not only about the marked-up cost of the food and drinks but also the transportation expense to get you to and from your destination. A far less expensive option would be to play host for the evening and organize a potluck dinner and BYOB (Bring Your Own Beverage) affair in the comfort of your own home. After all, catching up with friends is really about the company, not about the venue.