How to Stop Overspending as a Young Adult

Young adulthood can be a difficult transitionary period when it comes to your financial life. Between minimum-wage jobs, school debt, credit card offers and all the significant financial decisions you are expected to make in a short period of time, how you are managing your day-to-day spending may not even cross your radar. Here are a few simple tips that may help you stay afloat while you’re learning to navigate your financial path:

1. Automate.

Why operate on willpower alone when you don’t have to? Send a portion of your direct deposit to a savings account. Use free Money Management tools and alerts to stay on budget, and add low balance alerts to your checking account. A little setup time is a small price to pay for guilt-free spending and peace of mind.

2. Take social media with a grain of salt.

For some, nothing causes impulse spending like seeing others enjoying themselves on Instagram. Before you are compelled toward a pricey vacation, an unnecessary purchase or a spontaneous night out, remember that your journey is your own, and there’s no one to compete with while you’re on it.

3. Keep yourself happy!

Money can buy happiness, if only temporarily, and many turn to retail therapy as a cure for sadness or stress. So eat right, exercise and find ways to reduce your stress that don’t cost you in order to keep those happy chemicals flowing!