Follow this one easy hack to start saving money for your retirement

Step one: Cut out unnecessary spending on items you can’t afford.
Step two: Transfer that money to a high-yield savings account.
Step three: Watch your retirement money grow 🌻

When you’re in your 20s, retirement feels like an incredibly long way away. Surely by the time you’ll retire, we’ll already be living in a fully-automatized, overly-abundant space utopia. But the truth is, as you edge into your 30s, and the space fantasy is still just as distant a prospect, the idea of retirement starts to become slightly more concrete. That’s typically when people start putting money aside for their old days.

Still, it isn’t easy to imagine exactly what and how much you’ll need as you get older. One thing’s for sure, your current spending habits affect how much you are able to put aside. And nothing says overspending like unnecessary splurges on luxury items 💎🥂👑

When you’re young — and to be totally fair, when you’re old too — it’s easy to get caught up in the allure of designer clothes, fancy holidays, flashy tech, and expensive bling. But all these luxury spends add up and come at a cost. Not only do they take up a significant portion of your income, but they can also lead to a lifetime of overspending, and ultimately debt.

What if you could break free from the cycle of overspending and focus on building your savings instead? One very simple way is by cutting back on out-of-your-budget brands, which will allow you to free up money to put toward your retirement.

Just think about it — every euro you don’t spend on that Gucci top is a euro that can go into a high yield savings account. Over time, those savings add up and the interest grows. Plus face it: you would have spilled wine down your top the first week anyway 🍷😳

But it’s not just about the money — cutting back on luxury spending can also help you lead a more fulfilling life. Instead of constantly chasing after material possessions, you can focus on experiences and things that truly matter to you.

You can travel to new places, try new hobbies, or spend time with loved ones. These experiences will not only bring you joy in the present, but they will also create memories that will last all your life.

And when it comes to retirement, you’ll be able to enjoy all of these things without worrying about debt or running out of money. By choosing not to spend your cash on luxury brands, you can have a retirement that is not only financially secure but also full of the things that truly matter to you.

So, the next time you’re tempted by that designer handbag or deluxe watch, consider the impact it would have on your retirement. It’s a small sacrifice that will lead to a more comfortable and satisfying future. Also, you’re not a Kardashian 🙃

So, forget about the brands, focus on the things that truly matter, and start saving for the retirement you deserve.