5 clever ways to stretch your paycheck: Financial tips for millennials in their 30s

Learn 5 practical financial tips for millennials in their 30s to stretch their already stretched paycheck, save money and manage rising everyday costs without giving up everything they enjoy.

Financial literacy in your 30s can feel overwhelming, especially for millennials navigating higher housing costs, groceries, insurance, debt and everyday expenses. But Stretching your paycheck doesn't necessarily mean kissing our everyday comforts goodbye. These 5 clever money saving strategies can help you build a smarter budget, reduce unnecessary expenses, make the most of your income and put money towards savings and financial goals without feeling like you're living on a financial diet.

Do a "bill audit" not just create a budget: Instead of obsessing over all the small purchases look for the big recurring expenses that drain your account. When I did this I found out I had 2 subscriptions that I was paying for twice. Things you can look for when you audit

• Insurance Premiums

• Phone & Internet Plans

• Streaming Services

• Gym Memberships

• Banking Fees

• Subscriptions

• Credit Card Annual Fees

• Interest Rates

And for many of these you can call your provider and negotiate the rates your paying. I tried this out with my own insurance company and was able to lower my insurance by $50 a month.

Turn your "extra" money into a raise: A lot of people think saving requires having money left over at the end of the month or pay period. And as I've gotten older that number has continued to shrink as things get more expensive. Try looking for that extra money you already own, but aren't using:

• Employer 401K match

• Credit Card Rewards

• Cash Back Programs

• HSA/HFA Benefits

• Tax Credits/Deductions

• Bank Bonuses

• Employer Perks

• Airline/Hotel Points

And I know what you're thinking some of these are a pay to play situation, well the truth is don't spend the $100 just to get $5, use the rewards on the necessary purchases you're already making to get those added rewards. It took me a while to figure out how to do all of that and which purchases to use what on, but once I got the hang of things those points started to add up.

Create a "use it up" grocery week: This has been one of my most favorite things to do in the last couple of years. But instead of trying to hunt down all the best deals through apps, voucher codes and coupons, get creative in the kitchen by having a once a month or pantry/freezer week. I'm notoriously bad on going grocery shopping and forgetting I already had some of that in the pantry or freezer at home, so I force myself to take a week each month and clean house in my pantry and freezer.

Heat up that lasagna that's been sitting in the back of the freezer, use that can of corn that's been sitting on the shelf for what seems like forever... just don't eat expired food, but it's one of those things just feels satisfying in all the right places when you do empty your freezer. This is all about stretching your dollar further, you already spent the money, no need to take that extra trip to the store until it's absolutely necessary.

Stop treating every financial decision like it's all or nothing: I'm super guilty of this. If you like to eat out no one is saying you can never eat out again, but scale back to what makes sense for you. Or maybe you go out and stop ordering Uber Eats 3 times a week. If you know you want to take a vacation, make a reasonable financial timeline to actually pay for the trip ahead of time and not all at the last minute. Girl Math is your friend here, because duh if it's paid for ahead of time it's free, you know what happens in the past with your finances stays in the past.

Times are tough right now, but that doesn't mean we have to live in financial deprivation. This exercise is all about making your spending reflect what you actually value so if high end dinning experiences is what you value you have to find a way to make that work for you.

Give every raise, bonus a job before it arrives: This has helped me to grow my rainy day fund significantly. Whenever you get a raise, bonus, tax refund or start a side hustle, even a cash gift or overtime, don't immediately allow that money to be apart of your normal spending. Assign where that money "works" when it arrives.

For example try the 50/30/20 rule:

• 50% goes to saves and debt

• 30% goes to something you want

• 20% goes to the future.

You can still enjoy the money, and strategize how to make the money work for you.

Life feels hard and uncertain during this time, but it doesn't mean you have to revert back to your early 20s living on noodles and ready meals. Now more than ever you need to become a strategic thinker about where you money goes and how it gets spent.