Whether you’re in college or just getting out of it, your 20s are the time of your life where you’re, like, supposed to get your life together. And seriously, what’s this talk about investments and 401ks when we’re just trying to get by? Well, luckily there are great ways to save and make money in your 20s – even when it feels like you’re just trying to figure out how to keep up with everyone else.
I firmly believe that there should be a balance in life when it comes to balancing your daily grind and living a life you love. We all have to work. But why restrict yourself from enjoying life, or traveling?
Your 20s is the time you ought to live like Hemingway and grab the bulls by them horns.Your 20s is the time you ought to live like Hemingway and grab the bulls by them horns. Click To Tweet
Everyone has different priorities. For some, it’s important to make money in your 20s in order to save for your future home. For others, the importance lies in saving money to travel.
Regardless of your purpose and passion, here are eight simple ways you can create that vital balance between the daily grind of life and living a life you love.
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1. Get Down on that Side Hustle
Side hustles are perfect for the millennial who works a full-time job (or anyone who needs the flexibility in their schedule). You can pursue something you feel passionate about without having to quit your day job…and you can make money from it.
- Start a Blog. Starting a blog is a great side hustle. There are various ways you can earn money from a blog, including affiliate marketing. Because free hosts (such as WordPress.com or Blogspot) normally limit your advertising capabilities, invest in starting a self-hosted blog! Don’t worry – I didn’t know how the heck I was going to get WordPress installed on my blog. But my host, Siteground, did it for free! You can follow this step-by-step tutorial to start your very own money-making blog within minutes!
- Fiverr. Use your artistic talents to create logos for entrepreneurs. Offer your time as someone’s virtual assistant. You can even give others relationship advice. This can all be done on Fiverr. You can start by offering a basic package of $5 and then offer upgrade content for a higher fee!
- Drive for Lyft. Lyft is one of the best side hustles. For one, you create your own schedule. You decide when to start and stop driving. Driving during peak hours (busiest times of the day) increases your income tenfold. They even give you an extra $2 per ride in your first 30 days (up to $100). If you live in the United States, see if Lyft is hiring drivers in your city.
Related Reading: How to Start a Side Hustle (and live a life of your dreams)
2. Refinance Your Student Loans
Are you one of the many college graduates worried about payments on your student loans? Does anyone else feel like it takes forever to pay these off?
Use LendEDU to look into refinancing your student loan interest rates. To find out if you qualify for a lower interest rate, fill out LendEDU’s free, 3-minute application that does not affect your credit. They use your application to show you interest rates from up to 12 different refinancing lenders…it’s fast, and it’s free to submit your application to LendEDU without affecting your credit.
Most people who have student loans don’t entirely understand them (don’t worry, I didn’t either!). Read this in-depth article to learn more about student loans and the different methods you can use to pay off your loans more quickly.
Related Reading: 5 Student Loan Mistakes Costing You Money
3. Influence and Inspire Others
Maven. So, we know Pinterest is great for adding beautiful things to boards. But, have you heard of Maven? Similar to Pinterest, you can add products to boards. Anytime a person purchases an item from your board, you get a commission! These boards are also shareable on social media and your blog, so it’s easy to inspire others to buy beautiful things! Bloggers can even add their blog to their profile and receive campaigns for alternative ways to earn from Maven! It’s free to sign up and get started today!
Inzpire Me. Do you know about this new fad called influencer marketing? If you’ve put the time and energy to grow your social media followings, you should get paid for it! More and more companies are looking for (social media) influencer marketers to broadcast their products to a targeted audience… and pay you for it! Join a website like Inzpire Me and create a detailed, interesting profile so you can get connected with brands!
4. Save While You Spend
We all have to go shopping, whether it’s for our household amenities or for groceries. So, how can you make the most out of what you do have to spend?
Pay with Cash and Save the Change
One way to grow your savings is to pay with cash and save the change. You would be surprised at how quickly your change adds up! Yeah. All those pennies you throw away? They add up over time! Put your spare change towards the next trip you plan on a budget, or starting your own money-making blog.
Use a Rewards Credit Card for Every Purchase
Another way to save pennies would be to use a rewards credit card for every purchase. You spend the same amount, and actually get rewarded for the purchases you make. If you use credit cards the right way, this is at no cost to you. I am not a big spender, but I’ve made hundreds of dollars from my rewards credit cards since I graduated university. It doesn’t sound like a lot, but when you’re trying to get by, every little bit helps! Read this guide if you need to get your credit in order and start making those credit cards work for you!
Shop Online…and Get Free Money
Since we’re talking about earning money while you spend… have you heard of Ebates? Do all your shopping online with Ebates! You literally get free money for the very little effort it takes to go to their website and use their link to shop. There’s no gimmick! The money can be sent to you via check, or deposited into your Paypal. Not only is it free to use and free to sign up, but if you use this link, you get an additional $10 after you make your first purchase!
Related Reading: 5 Ways to Improve Your Credit Score and Start Adulting
5. Complete Surveys Online
Survey websites are some of the simplest ways to earn money online and in your free time. I recommend signing up for multiple in order to qualify for as many surveys as possible.
Swagbucks. Swagbucks lets you earn points called SB for filling out surveys and watching videos online. I like to throw on videos while I’m cooking or cleaning. It’s easy to get your first $5 when you sign up for Swagbucks!
Vindale. Vindale Research is another great website to complete surveys. I love their minimal interface and easy-to-navigate website. Plus, if you follow their social media accounts, Vindale posts “rewards codes” you can enter on their website for easy cash. They even give you $2 for signing up!
6. Travel on a Budget
Honestly, your 20s are your time to travel and see the world. But we don’t all have the money to take frivolous, palatial vacations all the time. That doesn’t mean you can’t travel! This is the time that you should be seeing and learning as much as you possibly can.
You don’t have to make big bucks to go traveling. All you have to do is learn to travel smart.You don’t have to make big bucks to go traveling. All you have to do is learn to travel smart. Click To Tweet
You can plan a nice, comfortable staycation in your home region. Or, become an expert at planning a trip on a budget. If you start to become a frequent traveler, make sure that you are an expert and know these essential travel tips.
If you create a dedicated account specifically for traveling, you are less likely to spend that money in your day-to-day transactions. Why not do that by depositing money into a checkings or savings account that pays?
Related Reading: Planning a Trip on a Budget: The Ultimate Resource List
7. Start a Checkings or Savings Account that Pays
Why let your money sit? If you’re not investing your money, definitely look into starting a checkings or savings account that pays. Here are three different accounts that earn you money in different ways.
- Discover Checkings. If you open a checkings account with Discover Bank, you can earn up to an extra $120 per year. Discover gives you 10 cents back per transaction on up to 100 transactions per month (whether you’re writing a check, paying a bill online, or making a debit card purchase). And this is at no monthly cost, with no minimum balance requirement.
- Discover Savings. Discover Savings offers 0.95% APY for its free savings account! The minimum opening balance does have to be $500, but after that, there are no monthly fees and no minimum balances.
- Charles Schwab Checkings. This free account gives you rebates on ATM withdrawals. Basically, after you are charged an ATM withdrawal fee, they give it back to you at the beginning of the month. You can also earn 0.10% APY on your balance for this account!
8. Cut Spending
Most of all, look at your budget and figure out where you need to cut your spending. I vehemently believe in making sacrifices in order to pursue a life you love. Whether that’s making sacrifices in order to start a family, buy a house, or travel, is up to each person as an individual. But to achieve these goals, you might need to cut costs.
Here are some ways to cut your daily and monthly costs:
- Unsubscribe from paid subscriptions you don’t make use of (e.g. magazines)
- Instead of paying for cable, use Amazon TV instead
- Ebooks are cheaper! Get a Kindle to save on the cost of buying books
- Plan out your meals before you go grocery shopping
- Dine in, not out – make your lunch or coffee at home
Why You Should Save and Make Money in Your 20s
I’m definitely not saying that money buys happiness. But having the financial stability to be comfortable and pursue things you love definitely contributes to happiness.
All in all, you have the power to turn your 20s into a decade you will positively reflect on. Life will always have its ups and downs. Some days it feels like the world is just freakin’ against you. But, there are ways to fight each and every battle.
Together, we can find the balance between your daily grind, and living a life you love.
It feels like one of my daily reflections is trying to decide if I am happy with where I am in life. But, the truth is, we create our own happiness by figuring out what matters to us most. Once you figure out what your priorities are, you can start working towards those priorities and creating that happiness.
For example, I am very, very passionate about paying off my student loans as quickly as possible. But, even though I contribute about 40-50% of my income to them every month, I also find ways to save so that I can travel on a budget. Those are my personal priorities. Doing those things makes me happy. I’m sure you have your own personal priorities..Even though it feels like life might be against you, create opportunities for yourself! Click To Tweet
Even though it feels like life might be against you, create opportunities for yourself! Start a money-making blog. Take the time to work on your credit. Take those setbacks, and turn them into inspirational lessons on life.
Love my advice? Please share or pin!
Now I want to hear from you:
What challenges do you find in your everyday life? What are your own personal priorities? How do you focus on them to create your own happiness?