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Money management in your 20s might seem overwhelming, but spoiler alert: it doesn’t mean cancelling all your plans or living off instant noodles. With a few clever strategies, you can save money and still have a life.

 

Keep budgeting simple and chill

First things first, don’t be scared by the word “budget.” It’s not about spreadsheets or saying goodbye to fun. It’s just about knowing where your money’s going. Start tracking your income and expenses with apps like Yolt or your bank’s built-in tracker. Trust me, once you see the breakdown of where your euros disappear (takeaways anyone?), you’ll find ways to make better choices.

A great way to divide your money is the 50/30/20 rule. Split 50% of your income on essentials like rent and bills, 30% on the fun stuff (yes, that includes nights out), and put 20% into savings. Adjust it if you need, but treat “paying yourself” like a non-negotiable.

Example: If you earn 1,800 euros a month, transfer 360 euros into savings right after payday. That way you’ve locked it away before it can be spent.

Save without FOMO

No, saving doesn’t mean saying no to everything. You can cut costs while still enjoying your life. Here is how.

  • Unsubscribe from what you don’t use: Check your bank statements for sneaky subscriptions. Didn’t know you were still paying for a premium Spotify and Netflix combo? Switch to a family plan with friends instead and split the cost.
  • Secondhand is your BFF: Apps like Vinted and Depop have gems for those trendy fits or even furniture for your flat. Sustainable and kind to your wallet.
  • Cook with your mates: Replace expensive takeaway orders with a fun group dinner at home. Share the cost of ingredients, cook together, and save those euros while still socialising.

Here’s a sneaky tip for shopping smarter: stock up during sales or shop seasonal deals. Buy winter coats in March or grab summer essentials during autumn. There’s almost always a discount if you plan ahead.

Example: By reducing three spontaneous 20-euro takeaways to home-cooked meals and cancelling a 15-euro subscription, you could save around 75 euros a month. That’s 900 eruos in a year, enough for a mini holiday!

Work smarter, not just harder

Saving feels easier when there’s more coming in. If your salary alone isn’t cutting it, why not try a side hustle?

  • Sell your old stuff:Haven’t worn that jacket since last winter? Or got a stash of old gadgets collecting dust? Time to turn that tech graveyard into cash. List them on eBay, Vinted, or Facebook Marketplace and watch your PayPal balance grow. Someone out there is dying for that iPhone 11 you haven’t touched since you upgraded.
  • Monetise your skills, your way: If you’re good at something – writing, coding, teaching languages – why not get paid for it? Platforms like Fiverr and Italki are basically money printers if you know how to hustle. Set your own rates, work from anywhere, and build that digital portfolio.
  • Make money out of your hobbies: Love pottery, knitting, or baking? Create an Etsy page or find an Instagram audience to start selling what you make.

Even just a few hours a week freelancing or flipping items online can build a decent extra income stream.

Example: Spend 6 hours a week tutoring at 15 euros per hour? That’s an extra 360 euros a month. Over a year, you’ll have made over 4,000 euros.

Why save?

Here’s the thing about saving money – it’s not about just having an emergency fund (though that’s huge). It’s about creating freedom. Savings mean you can travel across Europe, afford that electric scooter, or start investing for the future.

Plus, savings are crucial for those dream goals, whether you want to buy a flat in Berlin, study abroad in Barcelona, or start your own business- By setting aside cash now, you’ll make those dreams way more realistic.

Quick hack: Set bite-sized goals instead of vague ones. “Save 800 euros for an Amsterdam weekend trip in 6 months” is motivating and less overwhelming than just “save more.” Divide it by month, and suddenly you’re saving 133 euros a month for something exciting.

The bottom Line

Forget the idea that saving means giving up on fun. It’s not about living like a monk; it’s about making choices that actually get you somewhere. Cut out anything you don’t really need, budget with some sense, and find ways to earn a little extra. Suddenly, those big goals don’t seem so out of reach.

And here’s the real flex: every euro you save isn’t just sitting there – it’s buying you freedom. Freedom to travel, to move out, to say yes to whatever the hell you want. It’s not about stacking cash to brag; it’s about building your own path.

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