# Saving money **URL:** \ **Category:** Save Money\ **Created:** [February 8, 2019, 3:59am UTC](https://community.thepennyhoarder.com/t/saving-money/86 "2019-02-08T03:59:58Z")\ **Posts on this page:** 3\ **Page:** 1
**Author:** ![med007](https://avatars.discourse-cdn.com/v4/letter/m/7651D7/32.png) [@med007](https://community.thepennyhoarder.com/u/med007)\ **Post date:** [February 8, 2019, 3:59am UTC](https://community.thepennyhoarder.com/t/saving-money/86/1 "2019-02-08T03:59:58Z")
The first step to saving money is to figure out how much you spend. Keep track of all your expenses—that means every coffee, household item and cash tip. Once you have your data, organize the numbers by categories, such as gas, groceries and mortgage, and total each amount. Consider using your credit card or bank statements to help you with this. _Bank of America clients can [use the Spending & Budgeting tool](https://secure.bankofamerica.com/login/sign-in/signOnV2Screen.go?reason=spending_budgeting&request_locale=en-us&channel=desktop), which automatically categorizes your transactions for easier budgeting in the mobile app or online._ _Once you have an idea of what you spend in a month, you can begin to [organize your recorded expenses into a workable budget](https://bettermoneyhabits.bankofamerica.com/en/saving-budgeting/creating-a-budget). Your budget should outline how your expenses measure up to your income—so you can plan your spending and limit overspending. In addition to your monthly expenses, be sure to factor in expenses that occur regularly but not every month, such as car maintenance. You can compare your budget to those of people like you_ _Now that you’ve made a budget, create a savings category within it. Try to save 10 to 15 percent of your income. If your expenses are so high that you can’t save that much, it might be time to cut back. To do so, identify nonessentials that you can spend less on, such as entertainment and dining out_ ---
**Author:** ![minipanthermom](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/minipanthermom/32/1216_2.png) [@minipanthermom](https://community.thepennyhoarder.com/u/minipanthermom)\ **Post date:** [February 8, 2019, 7:20am UTC](https://community.thepennyhoarder.com/t/saving-money/86/2 "2019-02-08T07:20:00Z")
The Every Dollar app is also a great budget app! Very easy to figure out, and you can add customized budget categories and it tells you when you’ve gone over your budget. ---
**Author:** ![zara.zoey](https://sea1.discourse-cdn.com/flex015/user_avatar/community.thepennyhoarder.com/zara.zoey/32/6380_2.png) [@zara.zoey](https://community.thepennyhoarder.com/u/zara.zoey)\ **Post date:** [December 19, 2019, 11:25pm UTC](https://community.thepennyhoarder.com/t/saving-money/86/3 "2019-12-19T23:25:10Z")
Pretty much a success story of saving money. It’s been months I have been saving to solo backpack to Europe. The mantra other than an intensive scrutiny of budgeting is to see what really matters and what seems like a excessive junk!