Millennials are probably the best-known generation when it comes to problems with money.  No matter how hard they work and save, it seems like they’re constantly chasing down new ways to overcome debt and manage their savings.  

It’s no wonder there are so many articles out there that offer advice to millennials who are desperate for a little extra cash in their pocket. Unfortunately, most of this advice isn’t as useful as it seems. It’s all well and good to tell people that they should spend less money on Instagrammable food and coffees – but what about if you’re really a frugal spender in the first place? 

Here are 5 tips just for you to save more money.  

Get as Much Information as you Can 

The first thing you need to stock up on if you want to save money as a millennial isn’t avocados or kale. It’s knowledge. Gather as many bank statements as you can find and figure out where you’re spending the most money. A lot of people struggle with things like paying too much cash on lunch when they’re at work, or over-paying for car insurance.  

The more you know about where your money is going, the easier it will be for you to start finding reliable ways to cut costs. Remember, once you do start cutting down on your expenses, don’t focus exclusively on getting rid of things you enjoy. See if you can reduce the cost of your utility bills by switching to a different provider, or food costs by buying brand-own products instead.  

Make Savings a Must-have Expense 

Usually, when people start budgeting, they put their money aside into the things they need to pay for first. This means ensuring that you have enough cash for things like your rent, mortgage, and council tax before you worry about haircuts and entertainment. However, it’s easy to forget that savings should also be a part of your must-have expenses.  

Whenever you get your paycheck, take 10-20% and put it aside into a savings account that you don’t touch – unless you’re in the middle of an emergency. Treat your savings as mandatory, and you’ll be less likely to let your habits slide.  

Find a Side-Hustle 

One good thing about being a millennial these days is that there are more ways to make extra money than there used to be. You don’t necessarily have to find a second career waiting tables if you want to make some extra cash. Instead, you can sign up for freelancer websites online and make cash by designing websites or writing video scripts.  

If you’ve got a car, you can join a ride-sharing service to save more money.  Try giving lifts to people who don’t want to pay through the nose for a taxi service in your free time. There are even options to freelance and deliver food if you want to. Check out your options, then take all the money you get from your side hustle and put it into your savings account. 

Reduce Housing Costs 

One of the biggest expenses you’ll have as a millennial is housing. With council tax, insurance, rent, or mortgage fees to think about, it can feel like you’re left with nothing at the end of each month. If you don’t mind sharing your living quarters, then you could always look for a few ways to reduce those expenses.  

For instance, if you’re saving for something big, like a deposit on your own home, then it might be a good idea to move back in with your parents for a little while. On the other hand, if you just need a bit more cash in general, then you could consider taking on a roommate. Alternatively, you might even rent your spare room out from time to time when people are travelling and earn a little extra cash through an app like Airbnb.  

You can also look to reduce your heating costs.

Know your Debt Situation 

Finally, part of being on top of your money as a millennial is knowing what you owe and managing your debts. When you take out a loan, make sure that you compare the various options available to you and find the lowest interest rate. Once you’ve agreed to your loan, keep track of how much you can dedicate to it each month. Remember, the faster you pay off your loans, the more money you’ll have to yourself.  

The more you know about your debt situation and how you’re dealing with it, the less likely you are to get caught up in complicated problems in the long-term.