• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

CommuniKait

A Hawaii Lifestyle Blog + Travel Blog By Kait Hanson

  • Home
  • About Kait
  • Travel
    • Africa
      • South Africa
      • Kenya
      • Morocco
    • Asia
      • Bali
      • Thailand
    • Europe
      • Italy
    • Hawaii
      • Big Island
      • Kauai
      • Lanai
      • Maui
      • Oahu
    • Iceland
    • Oceania
      • Moorea
      • Tahaa
    • USA
    • Travel Tips
  • Food
    • Eat
    • Drink
  • Lifestyle
    • Life
    • Pets
    • Fitness
    • Home
    • Beauty
    • Fashion
  • Work
    • Portfolio
    • Let’s work Together
  • Photography
  • Gift Guides
  • Nav Social Menu

    • Facebook
    • Instagram
    • Pinterest
    • Twitter

How We Budget Our Money + Holiday Saving Plan

Life, Lifestyle · October 16, 2016 · 21 Comments

Happy Friday, everyone! I’m here today to dish on all things budgeting! Yep, that’s right. Today we’re talking money. Specifically — how you save it. And then spend it. I think sometimes people get nervous when the conversation goes toward talking about money. Why? Because our society is one the says “Hey! It’s none of your business!” And to a point – I get it. But when it comes to how we allocate money, save for big trips and plan out my funds for monthly expenses, I think it’s fair to share that information, especially if I think it can help someone else. Ya feel me? So let’s get right to how we budget our money + a fun holiday savings plan!
How We Budget Our Money + Holiday Saving Plan - Budgeting Tips - Easy Ways To Save Money - Money Hacks - Personal Finance - Debt Free Budgeting - Communikait by Kait Hanson

 How We Budget Our Money + Holiday Saving Plan

First things first – it’s important to note that the majority of what I make goes into savings and we try to live off solely Dane’s salary. There are obvious loopholes to this (like when I want to surprise him or buy him a gift of sorts), but for the most part, we try to make sure that the majority of what I make goes into our savings account.

 Now, my favorite topic — the holidays. I always found myself getting worried around the holidays — how am I supposed to use my regular paycheck for all my expenses PLUS gifts?! Do I dive into savings? Take out a loan? What the hell do I do?! When I met Dane, he and I developed a really handy way of dealing with this – every week, we put money aside for holiday spending in the number amount of the week. So, in January on Week 1, we each put aside $1.00. On Week 2, we each put aside $2.00. You see where this is going. By the end of Week 45 (the beginning of November, when I typically start Christmas shopping), you will have accrued $1,035.00!
Okay so my next favorite thing is vacation. Who doesn’t love a good vacation, am I right? We save for vacations on a monthly basis, by taking 10% of our monthly pay (5% of each paycheck) and depositing it straight into our vacation fund. This happens automatically, so we never even see the money, which helps in not wanting to spend it on stupid shit we probably don’t need from Target. We take a few trips per year and we never feel guilty, because we save for it in a special bank account all year long.
Now, let’s talk about the not-so-fun things like rent (or mortgages), groceries and utility bills. These are never fun expenses, because it’s just the cost of living. It’s nothing exciting! We account for this with a RUG fund — Rent, Utilities, Groceries. We’re really clever, I know. 40% of each paycheck goes into this fund each month. Whatever we don’t use at the end of the month goes directly into savings. Some months it’s nothing, but every little bit helps.
So, if you’re keeping track by now we’ve allocated 50% of our monthly income to something. But where does the other 50% go?
30% automatically goes into savings. We never even see it and it’s better that way! And the remaining 20% goes to “fun money”. We use it for date night, meals out, a round of drinks at our favorite bar, a new pair of sneakers — whatever. But! The caveat of all of this, is that when the fun money is gone — it’s gone! No more! It’s VERY easy & tempting to dive your hand a little bit into the savings pot, because you really want to try out a new restaurant or upgrade your wardrobe. Believe me, sometimes the sales at Nordstrom just call my name…but don’t do it! You can resist, I promise 😉
Now that we’ve gotten all of MY budgeting out of the way.. I want to hear about  yours! I can’t wait to see your favorite tips and tricks 🙂
If you enjoyed this post, you might also like:
How We Save $550 Per Month
How To Make Extra Money For The Holidays

Related Posts

  • WHY YOU NEED TO DIVERSIFY YOUR BLOG INCOME + HOW TO MAKE MONEY BLOGGING - Sharing why it's important to have multiple revenue streams + how to make money from your blog! | Making money blogging - Blogging income report - How to make money with a blog - blog income - blogging tips - Making money online - Blogging revenue streams - #blogging #blogWhy You Need to Diversify Your Blog Income + How To Make Money Blogging
  • Budgeting, Finances and Investing For The Future - Invest with COIN - COIN Investing - Finance Blog - Money Blog - #finance #investing #COINBudgeting, Finances and Investing For The Future
  • HOW WE DOUBLED OUR SAVINGS ACCOUNT IN ONE YEAR | A full breakdown of how we budget and how my husband and I managed to double our savings account in a single year!How We Doubled Our Savings Account In One Year
Previous Post: « 15 Must-Visit Restaurants In Hawaii
Next Post: Life Lately From My Phone »

Primary Sidebar

Kait Hanson, author of Communikait, a travel blog & Hawaiian lifestyle blog
Let's get this party started

I'm Kait, the creative behind Communikait, a travel blog & Hawaiian lifestyle blog packed with loads of color and designed to inspire you to live your very best life. Whether you've come for recipes, travel ideas, photos of Hawaii or to simply say hello - I'm glad you're here!

Hawaii Travel Blog & Lifestyle Blog

Subscribe to Blog via Email

Enter your email address to subscribe to Communikait + receive notifications of new posts by email!

 


THE FINE PRINT

Posts may contain affiliate links to help support my blogging activities. Cost will be the same to you, but I receive a small compensation. For more information, view my Privacy Policy. Thank you in advance for your support!

 

Hawaii Travel Blog & Lifestyle Blog

 

CommuniKait © 2025 · BRANDING BY HARPER MAVEN DESIGN · Website by 259 West