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Money Saving: 10 Personal Finance Tips While Making Money

Money Saving: 10 Personal Finance Tips While Making Money

We hope you love the money saving products we recommend! Just so you know, Men with Kids may collect a share of sales or other compensation from the links on this page.

Being a responsible parent means having money in the bank for emergencies. You may be thinking that it is not possible with your salary. However, a wise man once told me that it is not how much money you make, but how much money you save. Listed below are ten finance tips that will have you saving money in no time.


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Automatic Deduction:

Setting up automatic deductions from your paycheck is a great way to save money without even thinking about it! Here’s how it works:

  1. Talk to your bank: They can help you set up an automatic transfer to move money from your checking account to a savings account each payday.
  2. Choose the amount: Decide how much money you want to save each week. Even small amounts can add up quickly!
  3. Watch your savings grow: By not seeing the money in your checking account, you’re less likely to spend it. Soon, you’ll have a nice amount saved up for emergencies or future goals.

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Remember, saving money is like growing a plant – it takes time and consistent effort. But with automatic deductions, you can watch your savings blossom over time!

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Money Stocks:

If you have enough knowledge of the stock market, it can be a great tool to see your money doubling over the years. Some general information about the stock market:

  • The stock market is a place where people and companies can buy and sell shares of ownership in businesses.
  • Investing in stocks can be a way to grow your money over time, but it’s important to remember that it also carries risks.
  • The value of stocks can go up and down, and there is always a chance that you could lose money.

It’s crucial to do your own research and understand the risks involved before making any investment decisions. This includes:

  • Learning about different types of investments and how they work.
  • **Understanding your own risk tolerance and investment goals.
  • Consulting with a financial advisor can also be helpful, especially if you’re new to investing.

Remember, investing should only be done with money you can afford to lose and should not be seen as a guaranteed way to double your money.

If you’re interested in starting, or you’ve been doing that already, make sure to check out Robinhood, a stock trading app that lets you invest in the companies you believe in, with no commission, and on top of that you get a free stock signing up!

If you’re looking for a place to trade your stocks, check out TradeStation its a great place for trading stocks!


While similar to stocks, cryptocurrency is a digital type of money. Like stocks, it can be risky and its value can go up and down quickly. This means you could lose all your money. If you’re thinking about cryptocurrency, do your research and only invest what you can afford to lose.

Check out Coinbase for a cutting edge platform that enables you to buy and sell cryptocurrencies in real time!


Money saving with 401K:

money saving with 401k

Many workplaces offer a 401k benefit, which is like a special retirement account. Here’s the cool part:

  • You put money away from each paycheck.
  • Many employers match your contributions to your 401k, basically giving you free money! It’s like they double your savings!

If your workplace offers a 401k and you’re not signed up, you might be missing out on this free way to grow your savings for retirement. Talk to your employer’s human resources department to learn more and see if you’re eligible.

Save Money on Insurance:

We know insurance, whether it be car insurance, life insurance, or another type of insurance, is not the most glamorous topic of discussion. However, insurance is a necessity, and this article is designed to help save money on your day to day needs. Because of this, we recommend Smart Financial, which offers great prices on insurance, from home to auto and to commercial, and everything in between. Saving money in this area is a great way to free up cash that can then be used in other areas, not to mention protect your most cherished belongings!

Money Back Credit Cards:

money back credit cards

Credit cards can be tricky. They can tempt you to spend more than you have, but they can also help you save money if used wisely. Here’s the key:

  • Only use them if you can pay the balance in full each month. If you carry a balance, the interest charges will quickly wipe out any rewards you earn.
  • Look for cards with cash back rewards. You get a percentage of your spending back as cash each month, like in the example above.
  • Be mindful of spending limits. Don’t spend more than you can afford to pay back, even if you’re getting cash back.

Remember, credit cards can be a tool for saving, but only if you use them responsibly. Be sure you can stick to a budget and pay your balance in full each month before considering using a cash back credit card.

Check out to find the best credit card the fits not only your needs but also your wants! We put almost all of our bills on a single credit card every month about $5,000 in total, as we receive a 2 percent cash back when we pay it off on time at the end of each month. May not seem like much, but 2 percent of $5,000 is an additional $100 we receive back every month. That saves us well over $1,000 a year.


Use a Gift Card App:

Shopping apps like Shopkick can help you save money! Here’s how:

  • Earn points: You earn points for things you already do, like shopping at certain stores or browsing online.
  • Redeem for rewards: Once you have enough points, you can exchange them for gift cards to popular stores.
  • Shopkick example: This app works with many stores, so you can potentially earn rewards on your everyday shopping trips.

Remember, using these apps shouldn’t encourage you to spend more than you planned. But they can be a fun way to get something back for the shopping you already do!

Is Spending Money on Fancy Vacations Really Needed?

save money on vacation

Fancy vacations can be fun, but they aren’t necessary! Here are two things to consider:

  • Cost: Fancy vacations can be expensive, costing thousands of dollars for just a few days. This might not be a good option if you’re watching your spending.
  • Alternatives: There are many ways to have a great vacation without spending a lot of money. Camping trips, like the one you mentioned, can be fun and affordable. You can also explore local attractions, stay with friends or family, or look for deals and discounts.

Remember, the most important thing is to spend time with loved ones and create lasting memories. This can be done on a fancy vacation or a simple staycation!

Avoid the Non-Essentials:

Here are some easy ways to save money by saying no to non-essentials:

  • Ditch unhealthy habits: Cigarettes and alcohol are expensive and bad for your health. Quitting these habits saves money and improves your well-being.
  • Skip the fancy coffee: Instead of spending money on expensive coffee shops every day, make your own coffee at home. You can buy a reusable cup and bring it with you for even more savings.
  • Focus on needs, not wants: Only buy things you truly need, not things you just want in the moment. Ask yourself if you can live without it before you buy something.

By avoiding these non-essential items, you can free up extra cash for things that matter more to you.

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Save Money and Cancel Unused Memberships:

Do you have memberships you rarely use? Like that gym membership you only use twice a month? These subscriptions can drain your wallet without much benefit. Here’s what you can do:

  • Find free alternatives: Many exercise routines and yoga classes are available free online. You can find them on websites or apps, saving you money on gym memberships.
  • Cancel unused memberships: Don’t keep paying for things you don’t use. Review your subscriptions and cancel any you don’t use regularly.
  • Think before you sign up: Before signing up for a new membership, consider how often you’ll actually use it. Is there a cheaper or free alternative?

By being mindful of your unused memberships, you can save money and put it towards things you truly need or enjoy.

save money by cancelling unused memberships

Don’t Become House Poor:

Too many people live above their means; big house, luxury cars, branded clothing. They believe they can afford the new house they just bought, but they often forgot about the exorbitant property taxes which comes with the house purchase, not to mention the increased maintenance and up-keeping costs.

If you are planning to purchase a house soon, try finding a state that has a lower property tax rate, or none at all. You’ll be saving some serious money if you stay within your means or below them.


Or, think of other ways to make money off your home. Perhaps you can Airbnb it out during the time of year you are off on vacation or not at home. Becoming an Airbnb host is simple and can definitely help you make money off your property!

You Don’t Really Need that New Car:

Let’s talk cars! While everyone loves a shiny new car, there are smart ways to save money and still get a reliable ride:

  • Consider a used car: Used cars often cost significantly less than new ones, even if they have over 100,000 miles. With proper maintenance, a used car can last for many years.
  • Resist the urge to impress: Don’t let the desire for a brand new car pressure you into spending more than you need. Remember, a car is a tool to get you from point A to point B, not a status symbol.
  • Save and invest: Instead of spending money on a new car, consider saving that money and letting it grow over time. This can be a great way to accumulate a significant amount of money for future needs.

Here’s an analogy: Think of your car like a reliable workhorse, not a fashion statement. By choosing a used car and saving the extra money, you can be financially responsible and still get where you need to go. Remember, a smart financial decision today can lead to a brighter financial future tomorrow!

Buying Generic Is Not Being Cheap:

When it comes to saving money on groceries, generic brands are your secret weapon! Here’s why:

  • Same Quality, Lower Price: Don’t be fooled by fancy packaging. Generic products often meet the same quality standards as name brands, but without the high advertising costs. This translates to significant savings for you!
  • Taste the Difference? Many blind taste tests show little to no difference between generic and name-brand foods. So, you’re not sacrificing taste for savings.
  • Save Big on Your Bill: By choosing generic items, especially for items like canned goods, pasta, or household products, you can dramatically reduce your grocery bill. It’s not uncommon to see savings of 25% or more!
  • Focus on Ingredients, Not Labels: Instead of focusing on brand names, pay attention to the ingredients list. If the ingredients are similar, you can be confident that the generic option will offer similar quality and taste.

If you’re looking for more money saving tips, click here!

save money with generic options

Pay Off Your High-Interest Loans First:

If you have two loans of a similar amount and one has an interest rate of 8 percent and the other one has an interest rate of 15 percent, pay off the high-interest loan first. The same goes for your mortgage payment. If you only pay the required amount every month towards your house, you will end up paying twice as much as you’ve borrowed.


Buying a $150,000 house is tough enough to fit in a tight budget, but paying an extra $150,000 in interest over those 20 to 30 years is something you should do your best to avoid. Paying an extra mortgage payment per year will on average saves 4 years off a 30 years mortgage.

Saving money while spending money is actually a thing, so go ahead and try it out!

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