There’s no doubt about it. We are certainly faced with some significant expenses throughout our lives, and unless we are born into money, it’s something we spend our whole living working towards. It’s all a part of growing up and establishing ourselves as individuals. However, that doesn’t mean it’s easy to save.

In this article, we are going to discuss some advice on how to save for life’s biggest expenses. Sound interesting? Then let’s get started!



As soon as we leave home, housing immediately becomes our most significant expense. While there are different options you can choose from; they are always going to be weekly costs that you need to take into consideration. Moreover, you can have a look at these Cost of Living Reports in case you are planning to move abroad and want to learn about the living costs of different countries.

For instance, renting may be a more affordable short-term solution, but it’s always going to be temporary, and you don’t have the ability to change or renovate the space. However, on the other hand, building or purchasing a pre-existing home is going to take a large deposit, as well as weekly/monthly mortgage payments.

In order to save for your own home, it’s best to start putting away money as early as possible. This way, you can build up as big of a deposit as you can. 

Alongside the initial cost of the home, you then need to budget for your utilities. In the US, according to, the average electricity bill sits at around $110.76, while water is $70.39. However, it does fluctuate depending on what state you live in. If you want to save money in this department, it can definitely be worth checking out some of these ways to make your home greener. You’re reducing your bill and helping the environment at the same time. Gas, cable television, and WIFI are also things that you’ll need to think about.

Remember, houses also require maintenance, so try and find ways to keep your home in tip-top shape. Regular cleaning will avoid pest infestations, and using devices correctly will reduce the risk of having to call in an electrician or plumber. There are some things you can DIY and other things you can’t!


Across the globe, transport is another one of life’s biggest expenses. This includes both public transport and personal vehicles that you may own. In order to save, you want to think about all of your different options. For example, you might buy a car from Murdock Volkswagen of Logan or think about getting something used. If you don’t really need your own vehicle, then you might think about using the train, bus or other transport services, such as Uber. 

Obviously, purchasing and maintaining a car is going to have the highest overall cost. Not only do you need to make sure you have your license, registration, and insurance, but you also need to service the vehicle. While you can save money doing some of the repairs yourself, you’re always going to need it checked by a professional at some point or another.

The only real way to cut down transport costs is to minimize your car usage. If the destination isn’t very far, consider walking or riding your bike. Have friends going to the same place? See if you can ride along. It’s all about being smart with your decisions.



In the US, the average student loan costs around $25 000. For a young individual just out of school, this is a tremendous amount of money and not something that everyone can afford. While you can start to save before graduation, it’s understandable that it isn’t always possible. We all live different lives, with different incomes and family circumstances. It is possible to ask for a loan from your family or friends to avoid interest, but you also need to remember that it’s still something you will eventually need to pay back.

Once you start college, one of the best ways to afford your repayments is to get a part-time job. Even something as simple as babysitting, walking dogs, or delivering food can help you with all of your other costs, alongside your education expenses. Once you are a year into your degree, you might consider freelancing to build up even more experience.  

If you really can’t afford student loans, then you should also remember that college isn’t your only education option. Some jobs offer traineeships which give you on the job training. You can also find short courses online that are nowhere near as expensive as a full degree.

Read More: Saving Money 101: Quick-and-Easy Changes You Can Make This Week


Vacations might not be the most “essential” life expense, but they are certainly something that everyone should have. While it is possible to have one on a very low budget, it’s understandable that you may want to head overseas at some point in your life. There is a whole world out here to discover! 

There are many different ways to save money when going away but choosing the right vacation destination is a great place to start. You want to break everything down into different sections. This includes accommodation, flights, transport, food, and spending money. It will make it much easier to budget and determine where you should try and cut costs down. 

Some of the best tips to use to save money on vacation are to eat locally and stray away from tourist attractions. Most of the time, they are busy and overcrowded anyway! You might also look at more affordable accommodation, such as Airbnb’s or hostels. If you want to travel the world while you are young, try working abroad so that you can save and fund your travels at the same time!

And that’s it! These were some tips to help you save on some of life’s biggest expenses. While these are most certainly not the only costs you will face, it’s an excellent place to start. If you want to think further into the future, try to create an emergency fund. This way, you can cover health expenses and unexpected accidents and start to prepare for raising a family. Even just $20 a week can add up to over $1000 a year! 

Good luck!