I asked my friend out for a dinner a few days back. “I have no money,” my friend said. It was a few days after pay day. It would have been the perfect opportunity for me to chide him. But I couldn’t say anything, because I know exactly what was going on. I was in the same boat too, as were many people I knew. Halfway through the month, we were low on money and had to think twice before going out to spend our hard-earned money. This wasn’t everyone of course, there were still many who fared well. But the fact that millennials had a hard time saving money is a fact that I have corroborated over the years, parties, and late night conversations.

In addition to managing a certain lifestyle, one must aim for saving as much money as we can. It is an essential part of maintaining a safety net for the future. So instead of being disheartened every month, maybe we should take a few steps and make some conscious effort to save money. Here is how.

Start saying “NO” more often

You DON’T need to be a part of every plan that your friends are asking you to be a part of. Fear of Missing Out (FOMO) is stupid; find better ways to deal with it instead of giving in to it and spending money on overpriced alcohol and loud places every – single – weekend. Once in a while is fine. Chilling at home is so underrated, and if you really want to do something, why not call people over?

Dedicate a fixed amount of your salary towards savings

The moment your salary is credited into your account, without missing a beat, transfer a certain fixed amount to your savings account (that account the debit card for which you don’t carry in your wallet). Or better yet, put your money where you can’t see or access it – a trusted family member’s account.

Know your shortcomings

Compulsive shopper? Overspending on other people? Too generous with your lifestyle? Yeah, time to keep a check on that. If you splurge on cabs all the time, think about public transport (really not a bad idea by the way); if you are a compulsive shopper, try thrift shops…or better control the urge to spend your hard earned money. Need based buying is a practised learning – start now.