The final stretch of 2024 is here, which, I hate to break it to you, means it’s time to finally confront the financial demons of the year past. That seaside Airbnb in Porto (because how else do you do a European summer?), those fan pit tix for Diljit Dosanjh and/or Coldplay (because it’s a once-in-a-lifetime flex), and those wellness retreats that promised to heal you from inside out have—surprise, surprise—wiped out the bank.
And there’s still Christmas dinners, Secret Santas, NYE travel and end-of-year reunions, and all the Scorpio, Sagittarius, and Capricorn babies in our lives who demand birthday love. Basically, the money bags are shrinking and we’re in dire need of some divine intervention. Fret not, the internet is here to save the day.
Luckily, the same algo that lures us into spending regretfully (bags with bows, Brat-coloured everything, those trendy red Speedcats) also offers ingenious saving hacks. And before you roll your millennial eyes, I’m not talking about girl math or girl dinner. These financial tricks are not only loved by novices, but also approved by the experts. “We all know saving is important, but with so much advice out there it can be daunting to begin,” shares Tinisha Osu, budgeting expert at financial services provider IE Hub. “These easy-to-comprehend TikTok methods are a good way to dip your toes into the financial world.”
As someone who is presently knee-deep in the world of internet-backed saving hacks, I absolutely and wholeheartedly concur, and am here to share. Made for, and by, easily influenced girlypops, here are five TikTok-famous bank-building trends that will help you manifest your way out of being broke. It’s a long game, but it’s time to make that bread, secure the bag, and let the ka-chings roll in! Bonus: no finance-bro jargon or condescension here <3
The 100 envelope challenge
Head to the craft store and buy a stack of 100 envelopes. Yes, this is one of those financial challenges that starts off by asking you to buy things, but it works. Label the envelopes from 1 to 100 and place them in a box. If you’re a DIY kind of person, go crazy with the stickers and sharpies (the cuter, the better). Next, set a reminder on your phone for the same time every day, and when the alarm goes off, close your eyes and pick one envelope. Based on the number written on it, deposit x amount of money into said envelope. So if you pick the envelope with the number 27, you put an amount in multiples of 27 into the envelope. Based on your personal savings, and especially if you're saving in INR, you can decide to deposit ₹270, ₹2,700 or ₹27,000—you get the gist. And just like that, at the end of a few months, you have a big, fat sum waiting to be spent…or saved.
Best for those who:
- Are into all things handcrafted and artisanal (and appreciate that good things take time)
- Don’t snooze their alarm 16,738 times in the morning
- Appreciate a good slow-burn and/or practise patience (you know, let other people overtake them at a buffet counter, for example)
Loud budgeting
Broke fam, assemble! It’s our time to shine because being on a budget got a Gen Z glow up. Loud budgeting wants you to be open and honest about how much you can spend. After a year of quiet luxury, this trend is all about being intentional with your money instead of succumbing to peer pressure. It’s saying “no” to that friend who always wants to meet at natural wine bars with three ₹₹₹ beside its name. It’s about making frugality seem more chic than spending money. You don’t say, “I can’t afford it”—you say, “Who wants to give in to the consumerist, capitalism-fuelled belief that I need to buy something to feel happy?”
Best for those who:
- Love a good discount
- Are looking for an excuse to drop their vv expensive (and unfun) Pilates subscription
- Believe that regifting is cooler than buying what’s trending on the internet
Cash stuffing
Think of it as the responsible, more mature cousin of stuffing Christmas stockings. This trend wants you to stuff your monthly income into separate sections—as a gift to your future self, of course. First for bills and groceries, second for going out and treating yourself, third for gifts and gestures for people you love, and finally, for a rainy day. While this may sound straightforward enough, the claws come out when you overshoot your entire budget on gig tickets or limited-edition fan merch. Under no circumstances can you dip into the savings fund, so no matter how persuasive your best friend is, you cannot succumb to the temptations of an impromptu getaway or a hard-to-get five-course supper club if the ‘going out’ stocking is empty.
Best for those who:
- Never cheat on an exam, even when the supervisor leaves the room
- Have at least a rough idea of what their monthly income and expenses look like
- Will paint their friend a wonky portrait because they couldn’t afford to buy a real present or better yet, are brave enough to show up to a party empty-handed
A no-spend month
The rules of the game are in the name. Like a dry month off alcohol, this financial fast requires you to take a break from spending for a set period. Typically, this is a month, but if you’re feeling adventurous, maybe try it till the end of the year? Just imagine how good it will feel to not see any debits in your transaction list, you can even reward yourself with a little luxury on January 1. No-spend months are a much-needed detox for your bank account that teaches self-restraint, the power of deprivation and reminds you just how good your closet already is. Maybe you do have enough clothes, books, and bags already. Close that end-of-season-sale tab and gently walk away.
Best for those who:
- Don’t need Alia Bhatt to realise that repeating outfits is normal
- Have no idea what microtrends are and prefer it that way
- Excel in self-control, which means they can scroll past targeted ads without adding to cart
The 50-30-20 rule
If cash stuffing isn’t working, the 50-30-20 rule might be what you need. Instead of leaving you with the responsibility of navigating how much you spend, this method does the maths on your behalf. As per the rule, 50 per cent of your after-tax income should go into needs and essential spending, 30 per cent on wants like holidays, hanging with friends, or shopping, and the last 20 per cent should be invested. Of course, if you can split the latter two into an equal 25-25, that would leave you feeling rather wealthy, but no stress if not. We all have to start somewhere.
Best for those who:
- Love a spreadsheet to sort their life out
- Want to own a house one day, but also need their monthly staycations to survive
- Will host the party of the season complete with tablescapes, name cards, and return favours
