10 savings tips for your 20s when you love spending money

Whether you want to live it up on a Euro summer trip or just have some extra cash in the bank for a rainy day, saving in your 20s can be tricky. Everyday expenses can add up and you don’t want to sacrifice your social life - money is made to be spent right? 

What if we told you there are some simple ways to help you save money that won’t leave you living like an NPC in your own life. 

Here are 10 tips a 20-something who loves spending money probably won't recoil at the thought of:

Achieving your financial goals is the new impulse spending.

No, buying a coffee is not a daily birthright, it is a special little treat. If you are buying $5 coffees twice a day like the rest of us caffeine addicts, that’s $50 a week (roughly $200 a month!). Brewing your cup of joe (or matcha) at home or in the workplace as your daily ritual puts some money back in your pocket and still satisfies your cravings.

It is very easy to rack up food delivery costs, it’s just so easy and convenient - especially when you’ve been out the night before. However, grocery shopping allows you to pay for what you need and getting creative in the kitchen is fun, as well as cost effective.

It may not be as glamorous as ordering fancy drinks, but mixing up your favourite drink at home is a great way to still enjoy nights out without the usual morning-after bank account fright.

Did you know you can get free content online? From YouTube movies to a Kanopy subscription through your local library, there's a lot of ways you can watch your favourite movies without spending a dime. Streaming services, whether you have 1 or 5, are an additional cost you pay every month that you can potentially do without. 

If you have a passion for fashion, you might want to buy into the latest trends. Second-hand shopping can be a cheaper alternative to find the vibe you are after, and is a greener option to buying new clothes.

You might have heard of the hot girl walk. I have now decided that this actually includes walking for transportation. You might not be on board with this if your destination is too far - totally fine - but walking is free and a great form of exercise. Two birds, one stone.

Religious gym goers, this isn't for you. I am talking to the people who think planning to go to the gym is the same thing as going. Is your gym membership rotting away but you’re scared to get rid of it? Cancel it. Get creative with your exercise and think about the money you will be saving weekly.

Taking control of your spending isn’t just something you do when you’re ready to buy a house, it can help with any financial goals no matter how small. Yes, it will be tedious to track your spending, but once you have done the budgeting groundwork it’ll be smooth financial sailing. Check out our guide on how to create a budget or use our budget calculator to get started.

Did you know that we only wake up with a certain amount of decisions available in our brain? Hands free payments are a way of the future and can help reduce money stress. Scheduling automatic payments is a great way to ensure your money is being taken care of in the background of daily life.

Choosing a good savings account for your needs can compliment your savings goals. There are a few things for you to consider when looking at savings accounts and at Mozo we compare all the data for you to make it easier.

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