The challenges affecting young savers have been well documented, but things might be changing. Our research shows that over two thirds (68%) of millennials who save money each month say they consciously miss out on things in order to save money and build their nest eggs.

Big holidays abroad remain an attractive ambition and millennials are saving hard (on average £202 a month), to give themselves the best starts in life. The savings are coming from making the decision to embrace the “lowlights” so that they can afford all of life’s many highlights.

According to our research, each year young savers are choosing to miss out on: going to bars (saving £316 on average), eating out (£343) and clubbing (£268).  Does this sound familiar to you?

We have top tips and alternative ideas on how you can save money, beat the FOMO and celebrate the lowlights to reach your savings goals.

1. Host a cocktail or mocktail speakeasy at home

   Instead of spending your evening in an overpriced bar, create your own speakeasy at home. Ask each of your guests to bring the ingredients for their favourite cocktail or mocktail and you can mix them yourself on the night. There are no limits to what you could offer or how you serve it. If you need some inspiration, Pinterest has hundreds of recipes to suit any occasion or taste.

2. Come Dine With Me

   Eating out can really add up but enjoying a tasty meal with your friends is a great way to catch up, so host your own Come Dine With Me instead. You can each pick a theme, set your budget and create your show shopping dinner plan. For even more tips on how to host a dinner part on a budget, check out our blog post here.

3. 3. Good old-fashioned sleepover
   Instead of spending your evening in a dark room, not being able to talk to your friends over the loud music, save those pennies and have an old-fashioned sleepover instead. Get all your favourite snacks in, and put your favourite music on, and finish with a scary movie!

4. Cinema Club

   Everyone has a favourite movie and it is always nice to watch it with friends. Make your own popcorn and snacks, and instead of buying a load of DVDs, ask all your friends to bring a couple to choose from. If you really want to go all out, why not get creative with a themed set-up.

5. Sports Day in the park

   When the sun is shining no one wants to be stuck indoors. Take the party outside to your local park and host a sports day with your friends. Just about any sports equipment can be made into a challenge, and the wackier the better (think of the Instagram story…). You are creating memories for life, all on a budget.