As a young millennial with a job that supports me, my immediate inclination when I get my pay check is to spend, spend, spend. There are few things I enjoy more than a nice dinner or an online shopping spree. Therefore, for my first three years as a real adult, I was often living beyond my means.
For those of you that don’t know what that phrase means, I was often spending about as much as I was making. My savings account was not substantial, to say the least.
However, a few months ago I read a book that changed the way I look at money and saving. The book is called, Wealth Can’t Wait. These wise pages showed me that I really need to live below my means and save that dough that comes rolling in (or trickling in… after all, my main profession is a high school teacher).
There are many things I have changed about my lifestyle in order to save my money, but one of the smartest things I did was download an app called Mint. Mint uses your bank accounts, credit cards, and debit cards to keep track of your spending and savings.
It frequently updates you on how much you have spent on certain things, such as dining or housing, telling you if you spend more or less than average. It also advises you on how to properly invest your money. You can even set limits on your spending and it will promptly warn you that you have gone over.
As a millennial trying to develop my frontal lobe and actually plan ahead for my life, Mint is a huge help. It seriously feels like my mom developed the app to make me responsible… which I weirdly enjoy.