Money doesn’t grow on trees.

Indeed, that holds true especially for us working adults living our early twenties. Gone were the days when all we had to do was knock on our parents’ doors and ask for money. And gone were those days when all we had to do was wine our asses off until dad would buy us that limited edition toy robot our best  friend from class couldn’t stop yapping about.

But let’s face it. We’re all adults now and it’s about time we played the game of money. Rather than just wasting it all away, it’s time to make it grow into something greater. 

Here are 10 ways you can do to keep your money growing.

10 Ways To Keep Your Money Growing

1. Live within your means

Living within your means doesn’t necessarily mean you can’t spoil yourself. AND it doesn’t mean stopping yourself from going out to the movies, eating out with friends, or treating yourself for a spa day Saturday. 

All it intends to do is to make sure you don’t go beyond your budget. No matter how much you earn, may it cost a fortune or a beginner’s pay, it is with great responsibility that we make sure whatever we purchase may it be our needs or our self satisfying wants, doesn’t go overboard with how much we earn. From the food you eat to the kind of car you have to the place you choose to live in, always make sure to make your profit go hand in hand with your lifestyle.

Stop splurging over junk foods too. Indulge yourself with healthy home-cooked meals, it’s good for your health and your wallet as well.

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2. Plan and budget

It always pays to plan ahead. Even before you get your monthly salary, it is always a smart strategy to make sure you organize the list of your payables to make sure you can allot a specific amount of money for various expenditures such as home and utility bills, insurance, credit card, planned travels, etc.

3. Learn the habit of saving

At an early age, it is always a necessity to make sure that we have a personal system of saving. For example, we may follow the mechanism of the Pareto Principle or also known as 80/20 rule, wherein 20% of what you earn goes to savings and 80% goes to your daily needs and wants. But it’s important to know that saving would always vary among people. Choose where you are most comfortable.

savings

4. Track your expenses

We can’t just live a life earning money where all we do is spend and at the end of the day, we are drowned in the question where did all my money go? Where did I spend it on?

It’s pretty simple. Get yourself a notebook or open your notes app on your phone. Make sure you keep track of your expenses so you won’t go yapping at the end of the day about how your money just vanished into thin air.

5. Invest

Always have the mind for investment. Always have the mindset for growth.

Your money won’t magically undergo increment at the bottom of your piggy bank. The same goes when you keep it hidden in some vault in your bedroom’s secret hiding place. Your money just won’t go anywhere but stagnant.

So instead of doing dreaded things that won’t make your money go anywhere, how about investing it in a business or a bank for it to mature?

6. Know the difference between your needs and wants

Humans as we are, we are mostly tainted by our surroundings – all those persuasive ads driving you nuts to buy those limited edition shoes.

But somehow, we have to learn the difference between our needs and wants. It is a given fact how most of our income goes to our needs.

But if we are sticking with a certain budget, a little maybe next time for those wants won’t hurt.

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7. Spend wisely

Think smart. In all the ways possible, make sure to think twice before you throw your money at a certain point. And of course always remember, It’s not always about how much you earn. It’s about how you handle it.

credit card

8. Don’t rely on credit cards

Credit cards are just so convenient, don’t you think so?

But you have got to wake up and think like a grown-up! Always remember to use credit cards only for convenience and not to gain debt. And of course, how about getting a credit card to earn a good credit score? 

credit card

9. Do not purchase something that costs more than what you earn

As much as we want to personally own signature items, we just can’t get things that we can’t afford YET.

That’s why, as much as possible, we ought to make sure that whatever we buy, we can afford (and of course, definitely avoid getting too many loans).

10. Find a side hustle

It’s all about the hustle, mate.

Think you’re not earning more than enough for the lifestyle you aim to achieve? Then do some side jobs. May it be as a freelance writer, a part-time barista in a coffee shop, some extra cash will bring you a long way.

And lastly, thinking about growing your money? Then, you ought to keep this mindset – there is nowhere else to go but up.

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