Swipe less, save more

Achieving financial independence for Bangladesh's millennials and Gen Z requires disciplined saving and smart investing. While mobile financial services simplify transactions, they also encourage "invisible spending" making expenditures easier and less tangible. This underscores the importance of establishing consistent saving habits.

Start by saving at least 10 per cent of your income, treating it as a non-negotiable fixed expense. Automating transfers to a savings account or a digital pension scheme ensures regularity. Budgeting is equally critical - categorise expenses into needs, wants, and savings to maintain financial clarity.

Investing is another key step in building wealth. Beginners can start small by exploring stocks, bonds, or mutual funds while learning the basics. Developing smart spending habits, such as comparing prices and avoiding impulse purchases, further aids in saving money.

By setting clear financial goals and adopting these practices, young professionals can secure a stable and independent financial future in today's digital age.

Tanvir Mahmud

North South University

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