How We Saved Over $100,000 In Our 20’s & How You Can Too

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Today’s post is by my friend, Cassie, at, who is a stay-at-home mom who made it her mission to change her family’s future. 

I still remember the day, the day that I checked our investment accounts and saw that we broke the $100,000 mark. It was a huge day for me. When I had first set that goal, five years before, it was a joke. I didn’t think I’d be able to save that much.

If you have similar goals, find something that gives you motivation because you’re going to need lots of it.

We didn’t inherit money, we didn’t own a business, and I didn’t win the lottery. It was a lot of determination, living frugally on a budget, and investing the money that got us to this point.

Here’s what my family did to save over $100,000 in our twenties and how you can do the same. 

Before we get started, make sure to sign up for my free resource library and get access to exclusive printables all about saving money and building wealth, meal planning, and more.

1. Make Saving Money Easy With A Budget

Saving money becomes a whole lot easier when you have a budget in place, and you tell your money where to go. There are no ifs, ands, or buts about it.

Budgeting for us was the most critical aspect of being able to save over $100,000.

When it comes down to it, there is no system that we’ve had better results with then the cash envelope system.

2. Establishing A Successful Cash Budget System

Here are the steps we use to establish a successful budget.

1| Create A Budget And Stick To It– Calculate how much you make each month. Do you have multiple sources of income? If so, make sure to add up every last penny. It’s okay if your monthly take-home pay changes. To be successful with this, you need to make a new budget every month because every month you’ll have different expenses.

Remember to pay yourself first. Make sure to include in your budget the amount you want to save each pay period, and put it away before you start spending.

2| Calculate Your Expenses For The Month- Do you currently know what your expenses are each month? If you don’t have them written down, you should.  If your bills are on auto-draft like ours, it’s very easy to keep track of your expenses. Head online to your bank account and write down your monthly expenses.

3| Divide Your Spending Into Categories– Next, divide your money into categories such as groceries, necessities, gas, entertainment, kids, and any other categories you use. I keep all of our monthly bills on auto-draft and then use cash to pay for everything else.

4| Fill Your Envelopes- Head to the bank and get your cash. I pull out my budgeted amount of money for two weeks. Once I get home, I split the money in half, so I’m filling my envelopes with a week’s worth of money. This way, I won’t be walking around with too much cash in my envelopes.

5| Spending Your Money- When you spend, you have to be very money conscious. Once you are out of the money, you’re out until your next “payday.” I use the back of my envelopes to keep track of how much I spend at each store. It’s a straightforward way to let myself know if I’m getting low on money.

6| Save Any Extra Money That Is Left Over- When each pay period is over if you are lucky and frugal, you’ll have left-over money. You can choose to save it or use it to reward yourself for staying within budget. Remember you have to make saving money fun or you won’t want to stick with it long term.

If you need more help getting your budget set up, we’ve got a great step-by-step process you can check out here.

3. Embrace A Frugal Lifestyle And Save Money

Do you currently live below your means? If you don’t, you need to start. What most of us don’t realize is we spend a lot more than we realize each month.

One way or another this habit needs to stop. Buy the smaller house, drive the cheap used vehicle, and stop buying stuff to buy stuff.

It took me a long time to realize that the temporary happiness I was getting from shopping was only that, temporary. Now I spend my time finding better ways for my family to live on less.

These are our favorite frugal living tips that we lived by to save $100,000 and continue to live by:

  • Live below your means – scale back where you can
  • Only use credit cards if you have the cash to pay them off right away
  • If you don’t have the money don’t buy it
  • Enjoy no-spend weekends or weeks
  • Don’t try to keep up with the Joneses – there probably in a lot of debt

Remember you can maintain the same quality of life as you did before, you’ll do it living on less.

4. Need More Cash – Find Ways To Make Extra Money

It’s time to increase your income and pick up a side hustle. Most of us only need an extra hundred dollars a month to start saving money.

Do you have a hobby? Turn it into a money-making hobby. A few years ago, my husband and I made our farmhouse table for our dining room. It turned out great, so we started making and selling furniture.

Yes, we turned something we had never done (build furniture) into a side hustle overnight.

Here a few side hustles you can start today:

P.S. Sign up below for the FREE ultimate financial planner that includes printables like: debt tracker, income tracker, annual budget summary, savings challenges, financial goals, and debt thermometers!

5. Invest Your Money To Make More Money – Start TODAY

What if I told you that we didn’t actually “save money” for five years to reach $100,000?

As soon as we started getting serious about saving, we went to our bank and talked to an advisor who recommended we try investing.  Now that I look back, it seems a little crazy. We put a lot of trust in that advisor who we knew for all of 1 hour before we jumped into the investing world.

We didn’t know much about investing, but we did know we wanted to have our money doing the hard work for us.

We had saved up enough money to open a mutual fund account and guess what, it has been beyond what we could have imagined.

During the first three years, we added as much as we could to our mutual funds every month. The following two years we slowed our contributions because, well, life happened.

During those last two years, our money continued to grow in our mutual fund accounts, and we saw over $40,000 in the interest build up.

The coolest part is we still have these accounts open, and they continue to grow at a shocking rate each year.

This is why you shouldn’t let your money sit in a savings account at your local bank. Get your money into a high interest yielding account.

Most of our mutual funds aren’t even considered high risk, and the interest we have earned is now more than the amount we have contributed. Compounding interest is amazing my friends.

Here are a few different types of investments:

      • 401k – If your employer offers a 401k with a match that’s like free money! You have to take advantage of that!
      • Mutual Funds – We use mutual funds, and we HIGHLY recommend checking them out if you are looking to save money for 5+ years. These are actively managed funds, so the fees are a little higher.
      • Index Funds – Index funds are similar to mutual funds. These funds are supposed to match the major stock market indexes and generally do well. Index funds are unmanaged accounts, so they have really low fees.
      • Stocks- Lots of people play in the stock market. It’s a little riskier so; we don’t play in the markets very much. The idea is to buy low and sell high.
      • Money Markets- If you are looking to save money for less than five years, I recommend putting your money in a money market. They return a higher interest rate than traditional savings accounts.

Saving money isn’t as hard as you might think.  A few simple changes to your lifestyle can set you on the course to financial freedom.  Set goals, work hard to achieve them, and change the course of your future starting today!

✨ Lower your bills and save money (I saved $290)

Billshark is a MUST for anyone who has a cell phone, cable, internet, or insurance bill and wants to lower their bill.

And trust me, it works because I’ve used it myself on 3 different bills and I’ve saved $290.

Here’s how Billshark works:

      1. Send copies of your bills to Billshark. (I did this by uploading an online PDF of each bill).
      2. Billshark negotiates all of the bills you send in.
      3. You get notified if Billshark was successful. If they are, they take 40% of the savings. Ex. Billshark saved me $290 over the course of 6 months, so I pay them $116. I can do this in a monthly payment plan or all at once.

It’s definitely worth the savings and it was such an easy process. 

You can start lowering your bills with Billshark here.

What to read next: How I Made $80,000 My Second Year Blogging Full-Time In College

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