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18+ Money Saving Life Hacks For The Young And Broke

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Are you struggling to save money? 

Do you ever wonder how to save money on a tight budget?

The answer is money-saving life hacks for young adults that trick you into saving money!


Money Saving Hacks


Ahh, the joys of early adulthood…the freedom to do what you want, but no money to do it!

It’s hard for young adults to save money because most have jobs that don’t pay very well and paying bills isn’t fun.

How can you have an active social life, if you are always broke?

The answer is to MONEY SAVING HACKS!

That sounds so simple but saving money is hard when you are broke!

How To Save Money When You Are Broke

When you are strapped for cash and living paycheck to paycheck, then you need to utilize some money-saving life hacks!

The urban dictionary defines a money hack as a painless way to save money like switching car insurance to a cheaper plan or eating out less. 

Basically, any way to cut corners to save extra cash. 

By using these money-saving tips you are setting yourself up for a better future! 

Money Saving Hacks


Money Tips For Young Adults Who Are Young & Broke

Saving money is a valuable skill, but it takes time to learn.

Building wealth takes time, but with the right mindset, it can be done!

Smart money hacks help you save money on necessary expenses because we ALL need to eat right!

Just like Benjamin Franklin said, “A penny saved, is a penny earned!”

So STOP throwing your money away on unnecessary fees and try these money-saving life hacks for millennials, that won’t change your lifestyle or take that extra cash from your paycheck!

Best Money-Saving Hacks For Young Adults

1. Cancel Memberships and Subscriptions You Don’t Use

You know that Gym membership that you bought right after New Years’, or what about that music app you no longer use?

Ditch them!

Think about all the wasted money because of not taking the time to cancel things you no longer use.

Check out True Bill.

True Bill is a financial adviser at your fingertips that not only cancels unwanted subscriptions but will negotiate lower prices on your phone and internet bills.

You can also try out the app Steady that not only helps you track your income, but helps you find grants to help you pay off loans.

2. Track Your Spending

Many people are not aware of the importance of tracking their spending.

This is because some people don’t have a good understanding of how much money they make, and others don’t want to know.

However, there are many benefits to tracking your spending and knowing how much you spend on various things.

Make sure to use the FREE app CoinOut with every purchase you make.

You may have seen it on SharkTank, it gives you cash back on every receipt you have!

I use it with every purchase.

Now if I make an online purchase, I always use Rakuten because it’s FREE and gives me discounts and cashback on every purchase.

Be sure to track your spending with a free printable spending tracker!

Or you can really stay on top of your finances with the Financial Freedom Planner.

3. Save Your Pennies

We don’t think much about pennies, but they add up.

Pennies are lying around everywhere like the street, your couch, or even your car and you never give them a second thought.

I found this brilliant Money-Saving Challenge which is the easiest way to save over $600 with just pennies.

Check it out!

It is the most straightforward money-saving challenge out there!

Also, take a month to do a no-spend challenge. 

The most popular money-saving life hack is the No Spend November Challenge

4. Look for Deals Before You Go Out

You don’t have to give up your social life to save money.

Check out Groupon for great deals on Entertainment.

They have discounts of up to 50% on restaurants, concerts, and tons of get-aways.

5. Learn To Invest

Investing your money is one of the smartest things you can do to secure your future.

I get it, investing your hard-earned cash can be very scary. 

Research the stock market.

Learn how to invest in safe stocks.

Find out how you can get a free report on what stocks you need to watch. 

6. Get Rid of Cable

Today there are so many more options than cable and satellite TV.

More people are switching to streaming apps like Netflix and Hulu-Stream 1000s of Shows and Movies – Plans Starting at $5.99/Month.

If you don’t have a Smart TV, then get a Roku, it offers all the streaming apps and many FREE movies and TV shows.

FREE Money Hacks Savings Tracker

7. Invest Spare Change

When it comes to saving money, every little bit counts!

Acorns is a neat little app that will round-up your purchases to the nearest dollar, then invest your spare change for future goals. 

Right now they offer a  $5 Bonus -Just to Sign-Up For Acorns! That means that they will deposit $5 into your account to help you start saving.

Acorns are free for college students and as low as $1/month for everyone else.

This money-saving hack is like having a savings plan on autopilot.

8. Resist Impulse Purchases

Have you heard of the 30-Day Rule?

It is a simple method to prevent impulse purchases.

Instead of buying something, you must wait 30 days.

If at the end of the 30 days you still want it, then you can buy it, but you can’t put it on a credit card.

This rule is beneficial because it teaches the habit of delayed gratification and curbing your urge to spend.

Many times after the 30 days is up, you no longer want the item, saving the money after all.

Be sure to download these free budgeting printables to will help you budget your money every month!

Or this bill log payment printable, to keep track of all of your bills. 

9. Cancel Your Overdraft Protection Fees

If you don’t have money to spend, don’t spend it.

It can be easy to order that pizza when you only have $4 in your bank account because you know that the overdraft service will kick in and take care of it.

However, you end up paying around $35-50 in overdraft fees for each purchase.

Stop the cycle by canceling the service.

10. Switch Cell Phone Providers

We need our cell phones, we use them daily!

In fact, we feel naked without them. The downside is they are a huge drain on our bank accounts. 

The big cell phone companies merged several years ago, making it harder to find cheaper cell phone plans. 

Well, you are in luck because there are TWO new cell phone companies that are offering deeply discounted plans!

Tello offers UNLIMITED talk, text, and data for only $39/month.

Mint Mobile offers UNLIMITED talk & text and 2GB of 4G data for only $15/month.

So choose the plan that is right for you and make the switch, I did!

Related Post: Buy Phone App To Save & Make Money

11. Switch Your Light Bulbs

Your electricity bill is a significant drain on your wallet.

An easy fix is to replace your light bulbs with LED bulbs.

Most (nice) energy companies will send free LED light bulbs if you contact them.

Call your energy company today and ask them what freebies they will send to help you cut the cost of your electricity.

12. Dine-In More and Save Money

Eating out can be a significant expense. Save hundreds of dollars every month by getting in the habit of eating at home. 

Yes, groceries can be expensive as well, but you can buy a week’s worth of groceries for the cost of two good meals out.

Use the $5 Meal Plan!

For just $5 a month, you can have all of your meals planned out, including grocery shopping lists.

It takes the headache out of meal planning, and all of the recipes are super cheap to make!

If you don’t want to pay $5 a month to have all of your meals planned out, at least sign up for FREE to get a list of 4o cheap dinner recipes sent to your inbox!

13. Get Cash Back

There are many ways to get cashback on your purchases!

I use the app CoinOut which was introduced on Shark Tank.

CoinOut is a legit app that pays you for every receipt you scan.

It has a built-in scanner and only takes 5 seconds to scan your receipts. Not only that but it pays you for EVERY receipt you scan!

Use Swagbucks, it is not only a cashback site, but it PAYS you to watch videos and take surveys!

Get a $10 bonus just for signing up and it is completely FREE.

Once you are a member, you can earn referral rewards for everyone you invite.

Related Post: 50 Creative Ways To Make $100 A Day

14. Get Refunds

Use Rakuten every time you make a purchase to get 40% cashback!

It is completely free to use and has so many perks!

As an added bonus they will give you $25 for every friend you refer.

It is legit and puts cash back in your wallet with no questions asked. 

15. Walk Or Ride a Bike

If you live in an urban area then walk or bike to where you need to go.

Not only is it good for you, but it’s good for the environment. 

Download the free app SweatCoin to make money for every step you take. This money-saving hack is a Win-Win!

16. Don’t Play the Comparison Game

In today’s world of social media, it may be easy to think everyone has better things than you do.

Don’t compare your behind-the-scenes with everyone else’s highlight reel.

The comparison will steal your joy and your PAYCHECK.

Don’t buy things you don’t need, with the money you don’t have, to impress people you probably don’t like anyway.

17. Download SaverLife

SaverLife is a nonprofit that helps you build financial stability.

They have given away over $3.4 million to help members save.

Just sign up for free, link your PayPal account, and then start earning points and winning prizes for saving! 

Related Post: 50 Frugal Life Hacks That Let You Still Enjoy Life 

18. Use Coupons

These days it’s easy to use promo codes and coupons.

You can use Honey to scan the internet to find the best deals. 

It does all of the work for you!

Money Saving Life Hacks When Struggling To Save Money

There you have it, the easiest money-saving life hacks for young adults!

Do all these things, and you will be surprised at how much money you start saving.

The best savings tips don’t change your lifestyle and are easy to incorporate into your daily life.

Remember, you don’t have to give up your social life to save money.

Money speaks one language, “If you save me today, I will save you tomorrow.”

If you need extra help, grab the free savings tracker to help you keep track of your money!

For some great ideas to make extra money check out CREATIVE WAYS TO MAKE EXTRA MONEY.

Don’t forget to check out my Smart Money Resources page for more money-saving tips.

If you want to stay up-to-date on new Money-Making Ideas then sign up here to never miss a chance to add some cash to your pocket!

Bonus: More Money Saving Hacks

Free Money Making Apps You Need To Download Now

25 Real Ways To Make Money From Home That is LEGIT

Fun Ways To Earn FREE Gift Cards!

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Tuesday 30th of June 2020

I'm excited to check some of these ideas out! I already use Ibotta and absolutely love it!!

Morgan Tyner

Friday 7th of February 2020

There is so much goodness in this post! I love the tip about canceling cable. My hubby and I definitely did that - who needs it, right?! Like you said, it's so easy, right now, to just stream. stuff we'd want to see. We don't watch much TV anyways. Also, you're so right about cooking in versus eating out all the time. My husband and I now cook most nights, so eating out is more of a special occasion for us - which I love! Thanks so much for this excellent share! ✨Morgs*


Monday 3rd of February 2020

These are great tips. I’m even going to try to employ some of them myself. The cell phone tip looks promising and switching the light bulbs is another we can tackle right away. Good stuff!

Holly (The Work at Home Momma)

Friday 31st of January 2020

Great tips! We saved a fortune by cutting cable a couple months ago. We use YouTube TV with our Roku and don't even notice the difference.


Friday 31st of January 2020

As soon as I get a new phone I need to download that acorn app and re-install ibotta! That pennie savings challenge looked like a good idea. Thank you!