A Penny Here and a Penny There

Saving, spending and sharing is such a hard balance to obtain, especially for anyone on a college budget. My biggest struggle is putting into savings just enough to where I still have money that I can live on in the current moment. I know everyones situation is different, but I personally like to save up for travel. My study abroad program in Spain was entirely paid for out of my own pocket. Id been saving since I was a junior in high school. Travel isnt cheap!!

Now my next adventure to save up for is a trip after graduation. Details are still in the making, but Ive started saving already to make sure it will happen. Its been anything but easy because saving up money to go abroad in ONE year is just nearly impossible. But Im determined!

So here are a few things Ive learned from my own personal experience with saving.


  • Start early. Ideally, you would want to map out an exact amount of money to take out of your paycheck each pay period that would get you to your goal in a certain period of time (kind of like paying off a loan). This way you wont be stressed when the time comes closer.

  • If you cant start early, prioritize putting money into savings. Since I only work seasonally, Ive had to really step up my game in the summer. So I take a majority of my paycheck and put it right into savings before I do anything elseleaving enough for me to live on until my next paycheck.

  • If youre saving up for multiple things, have a designated amount that goes into each account per paycheck.

    • Example: Lets say you get a $800 paycheck every two weeks. $300 goes into one savings, $300 goes into another savings and $200 is set for you to get by for the next two weeks.



  • Set up automatic transfer from each paycheck: because then it never even hits your checking account

  • Envelope system: Whether its grocery, entertainment or vacation money, you can label envelopes according to what youre saving for. Then, each paycheck put a pre-determined amount of money into the envelopes!


envelope method

  • Share:

Stay Connected

Spokane Federal is more than just your credit union, we're part of your community. Let us help connect you with your community.