Budget, Organize

Saving Money While on a Budget

saving money while on a budget

It’s not a secret that many twenty and thirty somethings are trying to live a thriving and fulfilling lifestyle on a budget. Many of those lifestyles include lots of traveling. There are tons of resources about budgeting such as:

You can even live a budget lifestyle as a blogger by starting your own lifestyle blog and using free blog resources.

With traveling, paying bills, and life in general, how on earth am I saving money while ON A BUDGET?


*This page contains affiliate links, and I will be compensated if you make a purchase after clicking on my links.


Savings Accounts You Need

planner for budget and saving

 The first step to start saving is to open two important savings accounts. One of those accounts will be for household needs, vehicles, health emergencies, and any other unexpected money pits. The other savings account will be specifically for your vacation expenses.

Why do you need two separate savings accounts? Because it is easier to put money into accounts when it is for a designated purpose. It will also minimize the chance of you removing money that was meant for a new roof on your home to take a three month tour of Europe. 🙂


Commit to a Certain Amount Per Paycheck

Savings accounts only work if you actually put money into the accounts. How do you know how much money to put into each account per paycheck?  Sit down and see how much you can deposit into each savings account without putting yourself into a bind. Commit to always put that amount into savings.

I like to use a budget planner like the ones found on Mint. They break down exactly how you are spending your money. Mint even gives you information about the highest paying interest savings accounts.

mint budget planner for saving

Another great financial resource is Personal Capital. Personal Capital and Mint have a lot of similarities, but Personal Capital offers the ability to plan for future goals like paying for college, buying a house, and retirement. They focus on investment features more so than budgeting resources.

personal capital saving


Utilize Online Banking

Online banking is a great way to keep up with your finances and transfer directly into your two savings accounts. Most banks, even locally owned banks, offer online banking and free apps to download. Some even offer further financial assistance via their website or app. You can set up automatic transfers, drafts, and alerts through online banking.

It’s always a good idea to keep a close eye on your accounts because identity theft is so prevalent now. Online banking and financial apps allow you to keep a close eye on all of your accounts.


Reevaluate Your Subscriptions/Plans

More than likely you have subscriptions that you could cancel or downgrade to a lower plan for saving money each month. Are you subscribed to ALL of the movie streaming networks? Do you have premium plans to numerous music streaming apps? Are you able to bundle your cable/satellite and WiFi internet for a cheaper price?

I reevaluated SEVERAL of my monthly subscriptions and weeded out the ones that I didn’t use much or that I could do without completely. Some services will adjust your monthly price just because they think you are cancelling services completely. Give it a try. 🙂

 Limit How Often You Eat Out

Can I just say how much I love food? Trying new restaurants and new types of cuisine is part of the reason I love to travel. Restaurants are great, but I have found that cooking meals at home saves a TON of money. If you are intimidated by cooking then check out my 10 simple steps to get you cooking in no time.

Even if you are on vacation, you can find ways of saving money by choosing accommodations that have full or partial kitchens. Airbnb is a great place to search to find unique accommodations for any budget. Sign up with my referral link and receive $40 in travel credit for your next adventure!


Take Care of Your Loans

There are several types of loans that you may be struggling to pay each month. Student loans are unfortunately a way of life for college graduates. One way that you can start saving more money is to become intentional with getting out of debt. What are some pros of refinancing your student loans?

  • consolidate all of your loans into one payment

  • lower your monthly payments

  • receive a fixed interest rate when you consolidate your loans (instead of three different rates for three different loans)

  • choose from 10 years, 25 years, income based repayment plans for Federal Consolidated Loans

  • defer your payments for up to three years because a consolidated loan is considered a “new loan”

  • no minimum or maximum amount that can be consolidated

  • if you consistently pay on your student loans then it has a positive effect on your credit score

  • loans can be automatically drafted out of your account so that you don’t have remember to pay it each month.

If you need resources to get you started on this process then check out Sofi. You can find out what your rate is without effecting your credit score. Sofi is also great for credit card debt that you are paying more than 10% interest on. Student loan help may not be the loan help that you need. If you are looking for help with auto loans or home loans then look into LendingTree.

Pay Off Your Debt Quickly

One thing that I am sure we can all agree on is what a money pit loan/credit card interest is. A great way to start saving money is to pay off your debt as quickly as possible. Even if you increase your loan payment by $20 a month, that will pay off your interest quicker.

A year ago we decided to take $3,000 out of our household budget savings account to pay off my car. My car payment was $340 a month. Once we paid my car off we started putting that same amount, $340, back into our household savings account. This plan really worked for us!


Use Money Saving Resources

A great way to be intentional about saving more money is by using  resources such as Ebates, Ibotta, Maven, Paribus, and Swagbucks to save money on items that you are already purchasing. Here is a breakdown of each resource:

  • Ebates is a great program where you shop at your favorite stores and earn cash back on your purchases. Ebates will pay you through check or PayPal payment.

  • Ibotta allows you to earn rebates on items that you purchase by scanning the receipt and items purchased.  Sign-up today and receive a $10 welcome bonus. 🙂

  • Maven is similar to Pinterest, but it allows you to earn commission on purchased products that you save to your boards. Easy money!

  • Paribus is another great resource for people who shop online. Paribus automatically gets money back for you if there is a price drop on an item that you purchased.

  • Swagbucks works by rewarding its members for tasks that they already do online. You can earn swagbucks by using the Swagbucks search engine, watching videos, answering surveys, and playing games. When you earn at least 500 swagbucks then you can cash them in for gift cards or PayPal cash payments.

It may not seem like you will make a lot of money by using these resources but even $20 from each paycheck (twice a month) into savings will accrue $480 for a year. It’s all about working towards a goal.


Earning Extra Money=Saving More Money

If you have a full-time job there are still many “jobs” that you can do on the side to earn extra cash for saving money.  My post, Simple Ways to Earn Extra Cash, gives numerous ideas for creating a side income. Most can be done from the comfort of your own home. 🙂


What are some of your money saving tips and tricks? Do you use any of the resources that I listed here? Let me know in the comments below! Was this post helpful? Feel free to share the love on social media. 🙂







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