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Save Money in Your 20s

9 Easy Ways to Save Money In Your 20s

February 26, 2018

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Even though people are usually surprised to hear that I’m as young as I am (I’m turning 27 in April!),  I feel like I’ve learned A LOT about how to save money in your 20s.

Blogging about my finances and being paid to write about money has had a lot to do with me picking up these frugal habits. As I’ve researched and written about these things, I’ve also tested many of them myself to help me save more money.

I’ve paid off debt, built savings, and even paid for a super expensive health procedure in cold, hard cash. It’s safe to say that this journey has definitely changed my life for the better.

Today, I want to share 9 of the best ways I’ve found to save money in your 20s. All of these are things I’ve used myself!

Save Money in Your 20s with Apps

1. Earn Cash Back

Clipping coupons is a thing of the past for me, but now I use cash back apps instead.

My favorites are Rakuten and Ibotta.

Rakuten lets you earn up to 10% cash back when shopping online through their portal. Or, you can use their web extension to make it even easier. (That’s what I do!)

Ibotta will help you earn cash back in a few ways. You can either send in a picture of your receipt, link up a loyalty card, or use the app to do your mobile shopping. If you don’t have an account already, you can get an extra $10 bonus when you sign up with my link.

2. Earn Money for Small Tasks

Apps can also help you earn money or gift cards that you can then use for your regular shopping.

For example, Swagbucks will let you earn cash or gift cards for taking surveys or using their search engine.

3. Track Your Spending

Tracking your spending will help you be more conscious about where your money is going. When you know where your money is going, you can put more of it away in savings.

There are lots of ways to track your spending, but an app can help make it easy. One app to consider is Cinch Financial. It even does more than track your spending. Find out what else it can do in my review.

Save Money in Your 20s at Home

4. Cancel Magazine Subscriptions

Don’t keep paying for your monthly magazines when you can get them for free at other places, like the library. Money is tight in your 20s, so it’s important to save as much as possible.

If you have other subscriptions, you should think about canceling them as well. Using an app like Trim can help make the process easier. It will identity all of the subscriptions you pay for each month and you can cancel them with the click of one button in the app.

If you don’t want to cancel all of them, Trim can help you by negotiating prices on your behalf to help you save money.

5. Cut the Cord

Still paying for TV? Cut the cord today! There are tons of alternatives you can use to save money in your 20s.

Personally, I use Hulu and Netflix for less than $20 per month and it gets me every show I want to see!

6. Live with a Roommate

My brother moved in with me a couple of years ago to help make better use of my space. Plus, it also helps both of us save money on rent/mortgage and utilities.

It won’t be as bad as the dorms because you’ll have more space and the ability to choose your roommate instead of going potluck. 😉

Having a roommate is an easy way to save money in your 20s!

Save Money in Your 20s by Eliminating Debt

7. Pay Extra on Your Student Loans

Paying more than the minimum payment on your student loans will help you pay them off faster and save money on interest.

Another way to save money on your student loans is refinancing them to get a lower rate. Credible is a good option to consider. It gathers rates and let’s you compare multiple lenders in one place. Easy, peasy!

8. Cut Up Those Credit Cards

Stop swiping your cards for things you can’t afford. Cut them up if you’re still tempted to spend.

It may be hard at first, but you’ll thank yourself later.

Credit card debt is also something you may be able to refinance so you can lower your interest rate and get it paid off faster.

Again, Credible is a good option. They have personal loans with an interest rate as low as 4.99%, which is probably far lower than the credit cards in your wallet.

9. Automate Your Bills

Some companies will give you a discount if you set up auto-pay, which can help you save money. Plus, automating helps you avoid late payment fees which can stack up quickly if you ever forget to pay a bill on time.

Take your automation one step further by setting up deposits into a savings account automatically. Set it and forget it. When you come back to check your account in a few months, you may be surprised by how much you’ve saved, especially if you use a high interest savings account.

My favorite choices for a high-yield savings account are Synchrony Savings and Barclays.

Synchrony and Barclays offer rates that are 14 times better than the national average!

You could also try a savings challenge to make saving money more fun.

These nine ideas are just the beginning of a huge list of ways you can start to save money in your 20s. There are literally hundreds of other things you can try too.

Have you used any of these ideas to save money in your 20s? How else do you save money?


Stop living paycheck to paycheck. Start earning $10,000 per month.

Fill out the form to learn how I scaled my business from zero to $10K with these three things and why I'm confident they can work for you, too!

4 responses to “9 Easy Ways to Save Money In Your 20s

  1. My brother and I lived together for a few years in our 20’s until he got married. He paid me rent and I took care of the utilities. We arranged it this way mainly because I am better with money – or at least I enjoyed paying bills. He never missed a month of rent. Can’t say if he was ever late or not because we didn’t really have a due date, but it was never an issue.

    1. Some people look only at the negatives of having a roommate and don’t realize it can be a good way to save money. I think it is because of all of the bad stories you hear about those who have been taken advantage of by a roommate. However, if boundaries are set and you get along well, it can be beneficial to both people.

  2. A husband counts as a roommate, right? Lol. I have to admit, it’s nice splitting the bills and not having to pay for everything yourself!

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