📜 Did You Know? On January 6, 1941, President Franklin D. Roosevelt delivered his historic "Four Freedoms" speech during the State of the Union address, outlining the essential freedoms everyone should enjoy: freedom of speech, freedom of worship, freedom from want, and freedom from fear.

Among these, "freedom from want" resonates deeply with today’s financial challenges. Whether it’s reducing debt, saving for the future, or simply making ends meet, the principles of financial security and dignity remain as relevant as ever.

The Frugal Shift
Taking control

There are two types of people when it comes to paying their debts: those who feel a constant burden on their conscience about it, and those who don't even seem to remember their due date 😐.  Needless to say, neither of these scenarios is ideal, but it's easy to find yourself in one of them, especially when you consider how much the cost of living has increased in recent decades. For example, an apartment your parents may have rented in the '80s for $300 is now going for around $1,500. Which definitely is not helpful in attaining a healthier control of your finances.

Look, we all know that ditching your Starbucks coffee in the morning won't make you a millionaire. However, we cannot overlook the importance of solid financial planning.

The following are our honest suggestions, no affiliate links or kickbacks apply. 

We've moved on from the vague financial advice (you know the one – "just save more…"). Time for actionable tips: 

🌟 Know Your Numbers

Start by tracking your income and your expenses. It's pretty eye-opening to see where your money goes, and it's the first step to maybe, just maybe, redirecting it.

🌟 Thrift Like a Pro 

Why pay full price when second-hand is trendy and budget-friendly?

🌟 Make Debt Repayment a Priority

Check out the strategies we’ve shared on RoadMap, like the debt avalanche method or income-driven repayment plans. 

🌟 Cash in on Student Loan Tax Benefits

Even after graduation, you might qualify for tax deductions on interest paid. Check your eligibility to maximize your refund.

🌟 Negotiate Bills

Call your internet, phone, or insurance providers and ask for discounts. Companies often have unadvertised promotions or can match competitor rates.

🌟 Cancel Unnecessary Subscriptions

Are you really using all those streaming services, gym memberships, or delivery apps? Audit subscriptions and cut the ones that don’t add value.

Every small step counts. Skipping that dinner delivery once a week or using your side hustle income to pay off your debt may not seem like much, but these habits add up.

Hot Off the Press!

US homelessness up 18% in last year amid cost of living crisis

 Al Jazeera

Homelessness in the United States is rising rapidly, primarily due to a lack of affordable housing, inflation, stagnant wages, and systemic inequities, according to a recent HUD report. 

Last year, homelessness increased by 18%, with over 771,000 people homeless in January 2024, the highest number recorded. This figure includes those in shelters and unsheltered locations but excludes people in unstable housing. Notably, the number of homeless children rose by 33% to nearly 150,000.

Factors contributing to this crisis include natural disasters, an influx of migrants into urban shelters, and the expiration of COVID-era housing protections. While some cities have improved programs to combat homelessness, others have been criticized for punitive approaches. Advocates emphasize the urgent need for more investment in affordable housing solutions.

Curated Clicks

The journey to financial freedom starts with the right tools, and YNAB (You Need a Budget) is one of the best apps to help you manage your money effectively. YNAB offers a structured yet flexible approach to budgeting that can transform how you handle your finances.

YNAB's have got some cool features that'll help you out, like split transactions, which make it a breeze to plan dates with friends. It's also got bank integration and bank-like security, plus a super handy loan calculator to keep you on track with your goals. With an active community of users and proven results – like saving an average of $600 in the first two months – YNAB empowers you to reduce financial stress, build better habits, and achieve meaningful financial goals. 

RoadMap is a private network for recent college grads embarking on their job search and early career journey.

Stay connected with us on LinkedIn and Instagram for today's insights, tips, and exclusive events designed to boost your career.