7 Best Money-Saving Tips for Gen Z, According to Redditors

When you stumble on an article about tips for saving money, oftentimes the advice seems geared toward late-career professionals who own property. Refinance your mortgage, buy diapers in bulk ... the list goes on. But what about young apartment dwellers, up-and-coming professionals who’ve just applied for their first credit card? Here are seven money-saving tips tailored to young adults, according to Reddit’s thriftiest subreddit.

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When you nab your first high-paying job, you may be tempted to impulse buy a new car or start shopping at an upscale grocery store. But Redditors say you should avoid lifestyle creep and live below your means. No matter how much your new job pays, keep your expenses low.

Related: Metaverse Jobs: The Future of Work in a Virtual World

The average American spent $3,459 on food away from home in 2018. Keep that money in your bank account by learning how to cook, Redditors suggest. If you know how to whip up a quick pasta pomodoro or ratatouille — and other cheap and easy one-pot meals — eating at home won’t feel like a compromise.

Related: Dump-and-Bake Casseroles You Can Make in Minutes

The used car market is still inflated; even so, Redditors say that it’s still smart to go for a reliable vehicle with a few miles already on the odometer. You’ll save even more if you learn to do your own maintenance, another Redditor adds.

Related: 18 Reliable Cars You Can Drive Into the Ground

“The wrong spouse can ruin your finances faster than anything else,” one Redditor cautions, adding that you should be choosy about who you date. Avoid conflict early on by making sure both you and your partner are on the same page and have similar savings plans.

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Over a lifetime, the average smoker in the U.S. will spend millions of dollars on cigarettes, healthcare costs, and other expenses, according to a WalletHub analysis. If you're already a smoker, save yourself the trouble — and the terrible health effects — by quitting the harmful habit.

If you want to stay on budget in your early 20s, you have to know how to say no. Your friends are going out for drinks but you’ve already overspent this week? Stay in. A buddy of yours wants to DoorDash sushi? Reel in your spending habits and say no.

A Roth IRA is a retirement account that lets you withdraw money tax-free after you’re 59 ½. If you invest in this tax-advantaged account early, it will pay dividends in the long term — literally. “Every dollar you save today is worth more than every dollar you save tomorrow, so it's better to build these funds up as quickly as you can,” one comment reads. For young folks, contributions are capped at $6,500 a year, so start saving now.