Save money on a low income
Life On A Budget

Save Money on a Low Income | A closer look at my budget now

Here is how my husband and I are able to save money on a low income.

Saving money is hard to do nowadays. It seems like everything costs and arm and a leg, and I am talking about the essentials to living Utility bills, rent, mortgage, insurance, everything that you actually need to have is so pricey. Who can even then about paying for the luxury items like traveling, new clothes or even date nights with the hubby. At first it was not easy, but my husband and I have now adapted to how to save money on a low income.

Just saving money.

Now some of you might now be to this point yet. There are some of you that might still be paying off your debt. I encourage you that if you are still paying off debt to check out my other blog post on what our budget looked like then. That can give you a more realistic expectation of how we were able to do it. We were making a lot more money when we were paying off our debt, but our expenses were higher because we were living in Southern California. You can check out that blog here. In this blog you will find out that Zach and I still saved money while paying off debt, which is actually a key component to helping you pay off your debt!

Saving money now.

Saving money now looks a lot different for us than it did when we were trying to get out of debt. We took Dave Ramsey’s Financial Peace University to help us get out of debt. We were able to knock out $50,000 in 2 years! As many of you know, the save money on a low incomefirst step in the Dave Ramsey plan is to save $1,000 for emergency fund. This was the first step for us in saving money. Then we made sure to actually save up money while we were paying off debt as well. It wasn’t much, but it was something. Once we were out of debt we then began to start saving for our next step which is to have 6-9 months of your expenses saved. This is in case of a job loss or injury to cause you to be unable to work. This gives you enough cushion time to find another job.

Next step.

As of right now my husband and I are past the 6-9 months expense savings step, and are on our next step to saving for a house. The Dave Ramsey plan is about paying your mortgage off next, but we have not bought a house yet, so we are just saving at this point. We are also moving on to another step which is investing. We are looking into finding the right financial planner to help us with this so we can get that ball rolling as well. So as of right now, we are kind of just in the stage of living and saving. We are still having fun for sure! Especially since we don’t have any kids yet, we are trying to travel as much as we can.

Our Budget.

Here is a breakdown of our current budget. I am not going to share with you our full income, but I can show you what we are spending and how to save on a low income.

Monthly Expensessave money on a low income

$1300 rent (1st)
$255 Health/dental/vision
$600 Tithe
$340 Utilities
$130 Car Insurance
$10 Netflix
$55 renters insurance
$15 website
$100 Phones
$80 wifi

Bare minimum.

As you can see, we have cut our expenses down to the bare minimum. We only pay for the necessities, and we try to pay for the cheapest necessities possible. The only expense that I think is way overpriced is our rent, but we live in an oilfield town, so they always jack up the prices! A lot of people tell us to just buy a house, then we can sell it two years later and make a profit, but that is not something we have just felt like doing just yet. Zach and I have been moving since we got married, so renting just fits us better for now. My dream is actually to buy an RV and live the RV life! Some day!


With this budget, Zach and I are always able to put some money back to savings. Like I said before, we are not making near as much as we were when we were paying off debt and working in California, so we are not able to save as much as we did then, but we still save some. Whether it is $20 or $200, we always try to put something back into savings. We are proof you can save money on a low income.

Living the life you want.

I hope this break down of our expenses has give you a better picture of how you can live with the bare minimum too. You might have car payments, gym memberships, and even debt payments to add to your list. You can knock those things off! If you have a car payment that you won’t pay off for years, sell it! If you have a gym membership, cancel it. I have some great blog posts here on how you can still workout without the gym membership. I am proof that you can live minimalistic and still live a good life. Zach and I have so much fun, we travel, and we still have nice things. It only takes tough discipline for a short time to get to where you want, and then after that you have the freedom to do what you wan to do!

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