Much like the band, Abba said, “It’s a rich man’s world”, we say it is too! However, there are various ways of surviving this world wanting to own all the latest fashion trends and go to all the hip clubs and restaurants. Ah! Now we’ve finally got your attention! Yes millennials, with a few tips on how to manage your finances, you can have both, the latest Roberi & Fraud micro sunnies and cash in your pockets! Here’s how it’s done...

This one isn’t a difficult one. Find a wholesaler and buy your toothpaste and cleaning agents in bulk! You will even learn that if you buy milk for the whole week instead of just for the day, you will spend much less eventually. With your alcohol, the same rule holds true.

The job market is continuously changing and getting a hold of the happenings in it as soon as possible is advised. Be on a lookout for new jobs once you have spent a significant time at one. This is good for growth. It is important to have your resume ready to go at all times and to be prepared to apply for a new job.

Depending on your credit cards is always a bad idea. It does more than affect your credit score. Consumer debt can quickly add up if you max out your cards too. It is important to be debt-free at all times. Credit cards should be used with much consideration and should be used in a frugal manner.

As a millennial, it is important to take your retirement planning seriously. Social security is changing and the amounts that are given are lowered as well as the eligibility age is becoming later each year. You must save aggressively for retirement even if it may seem ‘a little too far off’.

Saving money should be a priority for millennials. You also must always have an emergency fund handy. Additionally, saving up a down payment for a house can help you purchase a better home in an area where you are happy to stay for a longer amount of time. Save for a rainy day and to achieve things on your bucket-list that are within reach.

Take in a huge breath and then flip the book to check your bank statement. It’s easy to lose track of what you’re saving and spending when everything is done electronically. The more you evaluate your bank statements, the better you will be at tracking it.

If you’re headed out of town for a weekend or even for a short trip, ensure you plan everything in advance. You will learn that booking your tickets and stay in advance will help save you a lot of cash later on. This will leave you with more spending power for other things on the trip.

Whether it’s your 20th LBD or your third Uber ride in a day, ask yourself the simple question: Do I really need this? Very often, we just need to fight the initial impulse to spend in order to save money.

Instead of indulging in expensive hobbies, read in your free time. Not only will this help fight the urge to go out every night and party but you will eventually gain much from the reading too! Also, reading is a relatively cheap hobby to have.