Millenials are popular for their spending first attitude, let’s face it, we love shelling out on good experiences and lifestyle as opposed to the traditional idea of saving for a rainy day. The motto being YOLO, youngsters these days are more focussed on living in the present, spending a lot more than what’s wise to ensure they do not have to compromise on their extravagant lifestyle and comforts. Let’s look at a few simple tricks and tips to balance out the spending vs saving scale. The 50-30-20 rule This one’s pretty basic and a tried and tested formula. When your eyes twinkle at the arrival of your monthly paycheck, put 50% aside for your living expenses, 30% on your entertainment or travel needs and the rest 10%, undoubtedly towards savings. Expense tracking Oftentimes, we get so carried away swiping our cards every now and then for purposes big and small, we end up forgetting what’s really draining our money. Tracking your expenses and knowing where exactly you are spending and how much is the best solution to curb unwanted expenses right away. Budgeting It’s an evergreen solution to financial constraints- traditional or modern. It is the most ideal way to gain control over your earnings and spendings. A budget shows you explicitly what are the expenses to prioritize and how to meander through the ones that can be pushed aside for later. An emergency fund Stash away whatever you can save at the end of the month towards an emergency fund, something that can help pay any unforeseen expenses or help you sail 3-4 months without a source of income. You may never know when extra funds might come handy! The next time you get excited at the notification of a salary credit, think about the simple yet wise tips that could help build you a better tomorrow, financially.