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5 Easy Ways to Save in Your 20s

Oct. 21, 2017
Personal Finance
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You thought your 20s would be all fun and games, but you’re suddenly drowning in cable bills, car payments and receipts from that weird bar you don’t even like.

Finding manageable ways to save will set you up for financial success. Try these five easy tips to cut costs in your 20s.

1. Stay on your family cell phone plan

You don’t have to break away from your parents completely. A family of four that shares one cell phone plan saves $15 to $25 per month per person, depending on the plan and carrier, a recent NerdWallet analysis found.

You can still contribute to the bill, as 53% of adult children on their parents’ plans do, according to the poll.

2. Negotiate your bills

Bring down that cable bill. Renegotiating could lead to savings of $720 per year, according to a NerdWallet analysis of Billshark data.

3. Share your accounts

You don’t need to give up your favorite TV shows. Sharing a Netflix and Spotify account is cheaper than buying separate accounts.

Spotify Premium costs $9.99 per month for an individual, but a Premium for Family account — for up to five people who share the same residential address — costs $14.99.

4. Plan meals in advance

Avoid the takeout, Seamless and other meal delivery apps that can take a toll on your credit card statement. Save money and eat healthier by planning a week’s worth of meals ahead of time.

5. Play the waiting game

Buy a new vacuum in April and a lawnmower in August. Knowing which is the best month to purchase home goods, a laptop or a car will save you money year-round.

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