Goodbye PSLs: 7 Tips on How to Start Saving Money NOW

Here's where your money has actually been disappearing to.

Let’s get real. You’re young and broke- or your parents still pay for your expenses. So obviously that means you’re trying to save money as hard as you can… right? Well, a quick look at your monthly credit card statements would probably show something different.

Where is all that precious, hard-earned money going, you may be asking?

Basically, here: 

Okay, so maybe putting all the blame for this on ordering avocado toast at brunch is just a bit over dramatic, but you do have some bad spending habits which should probably be addressed. Especially if your goal for these next few years of adulthood is to be somewhat financially stable, and maybe, to one day even be able to afford… a house! 

So, to help you out, we took a long, hard look at our credit card statements and realized that there is some absolutely unnecessary spending going on. Here are 7 things which need to be addressed RIGHT NOW, so you can stop throwing your money away: 

1. (Sadly,) it’s time to end your relationship with the PSL.

You are probably (very) familiar with the fact that your “grande non-fat-half-sweet-extra-spice PSL with soymilk” costs $4.95. That means, in theory, if you are purchasing 5 lattes a week, you are spending almost $1300/year on coffee. Just imagine what you could do with even some of that money. Now I’m not saying to give up coffee (I seriously wouldn’t be able to function without that sh*t), but start making it at home! Purchasing a coffee machine will save you LOADS of money in the long run (and time from waiting in lines)! You can buy a BEAUTIFUL and easy to use De’Longhi espresso machine on Amazon here for $299.99. 

2. Ditch the fast fashion 

Trends change. And hopefully this is not news to you all. Instead of trying to keep up with them every month by buying lots of “cheap and trendy” items, buy a few high quality items that will ACTUALLY last. Now I’m not saying go out and buy all your items in designer labels, but do a bit of research before shopping, and make realistic wardrobe decisions. Read more about making the right wardrobe decisions here!

3. Have a little check-in with your paid subscriptions

Take a quick look at your credit card bill. You’ll be surprised as to what’s hiding on there. Especially the monthly subscriptions you now pay for since your long-forgotten-about free trial for some photo app (which you thought was cool for a hot minute) ended. When you start a free trial just for sh*ts, set a reminder in your calendar for one day before it is supposed to end. Also, really step back and evaluate how you are using your paid subscriptions in general. If you truly aren’t using the service on a regular basis, or if it is not valuable in the long term, THEN UNSUBSCRIBE FROM IT. 

4. Skip the drinks @ dinner and drinks

Going out to dinner with friends or co-workers is unfortunately unavoidable if you want to keep up a social life. I mean, now that we literally have no time to eat and socialize separately, the multitasking is REAL. Unfortunately, ordering a drink or two will take your bill from 0-100 REAL QUICK.You are not obligated to order a drink each time you go out somewhere just because you are of age. So skip the cosmos, and cut your bill by anywhere between $10-30 on your next meet up with your gal-pals or bros. Lemon water is just as delicious (…kind of)! 

5. Stop wasting energy

You are actually horrible when it comes to wasting energy. Not only are you wasting energy, but you are wasting your precious, precious money. As Nelly Furtado once said: “turn off the lights”! Also, wash your laundry in cold water. And when you have to use large amounts of electricity (aka laundry), do it during off peak hours. Bam. You are on your way to cutting your utilities bill almost in half for the month. You’re welcome. 

6. Cut down on ride sharing

It is so important to always check the price of your Uber or Lyft before you order it! Peak-time pricing can really get you, and that extra cost is definitely not worth it. Unless it is the only safe option, paying a premium to be driven a couple kilometers is not necessary. Better yet, cheaper alternatives do exist; compare the cost of the ride-sharing service to the same route via taxi, try finding a public transit route, or even try *gasp* walking! 

7. Start making your meals @ home

Eating out for lunch, and ordering takeout/delivery are NOT bank account friendly. Seriously though, your chicken pad-thai you got delivered is NOT worth $25- especially with the $5 delivery fee in there. Learning how to actually cook a thing or two, and meal-prepping for the week, will be healthier, AND save you money. PLUS, when you take your lunch to work, all of your co-workers will be shocked at how “healthy” you are, and who doesn’t love a compliment! 

Now I can almost guarantee that from pursuing a combination of these money-saving activities, you will end up with at least an extra $1000 each year. You can then either put that extra moula straight into a savings account, investments, or buy things that you actually want- SO MUCH FINANCIAL FLEXIBILITY!!

You better start preparing your breakup speech to the PSL ASAP! 


Olivia and The Zillennials 


  1. Listening to advice is the easy part because you then have the choice to ignore or apply that advice. The application part becomes the ‘tricky bits’. Your need must be greater than the sacrifice. Well, you know what they say….Necessity is the mother of invention. When you need something then it becomes imperative to achieve it. Oops, I feel like I am sounding like my parents now.


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