5 financially savvy millennials share their best money advice and savings tips. (via CNBCMakeIt)
When Christine Hopkins started thinking about her savings and debt repayment like she does her rent or utilities — a fixed cost that she has to pay each month — she upped her savings rate tremendously.
and lived paycheck to paycheck. In 2018, she started working with a financial advisor, who encouraged her to take a hard look at her spending. It wasn't until she actually went through her expenses that she realized she had "all this money that I was just letting go." Now, she pays herself first to prevent herself from spending it mindlessly.and saved nearly $2,000 a month. She also put about $1,000 toward paying down her student loans and credit card debt each month.
Thinking about her purchases through this lens helps ensure her that "the money I spend is well spent," she says.Alex Sanchez outside his home in West Chicago.. The 25-year-old is well on his way, saving nearly 50% of his six-figure income.
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