6 Quick Money Saving Tips for Millennials

Are you doing these already?

Brought to you by Progressive.

Cable alternatives (ATTN: CORD CUTTERS)

Instead of spending money on a cable subscription you can pay for alternatives based on what kinds of entertainment you actually consume! Netflix, Hulu and HBO are some of the few that offer monthly subscriptions that allow you to view some of your favorite shows without needing a cable subscription. Cut the cord and start consuming your entertainment a la carte.

Use credit, not debit.

Most people are quick to swipe their debit cards for almost every purchase, but utilizing a credit card can help minimize those scary overdraft fees. Most young folks don’t have great credit scores yet but, but a credit card will reward your responsibility by helping you maintain good credit and even earning rewards points. It’s understandable that millennials are allergic to the idea of self-imposed debt — but slowly and prudently building credit is the superior long-term strategy.

Take advantage of spend tracking apps/websites

There is no shortage of useful apps designed to help you save more and spend better. Taking advantage of all the useful applications available that help track your finances and ensure you’re using your money wisely. Use Mint or You Need a Budget to partition your spending into different categories — and set up notifications to avoid overspending.

Seamless/food apps

Here’s some simple advice: Just go ahead and delete these from your phone and replace them with a app to help save money on groceries/track your purchases.

Cooking at home

While buying lunch at work is extremely convenient and sometimes yummier, bringing lunch from home can save you a lot of money in the long run. Also, having a well-stocked bar at your home or apartment can save you a large chunk of change versus spending every Friday and Saturday out on the town. This will also minimize the cost of transportation home. So try becoming a modern day Martha Stewart and save loads of money in the process.

Usage Based Insurance

An easy way to save money is to look for car insurance discounts. Progressive Insurance’s Snapshot is a FREE safe-driving program that offers discounts based on how you drive. Simply plug this small device into your car, and based on your mileage, hard-braking and time of day you’re driving, you can earn a discount. Snapshot recognizes and rewards individuality, allowing drivers to be rewarded for their actual ability to drive well in several key ways, instead of being priced on traditional factors that may be beyond your control. Plus, Snapshot boosts safe driving for you and many others on the road. That’s a real plus for all of us from a leading car insurance company.

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