{"id":33305,"date":"2025-07-08T12:05:14","date_gmt":"2025-07-08T12:05:14","guid":{"rendered":"https:\/\/financialrush.com\/?p=33305"},"modified":"2025-07-08T12:05:14","modified_gmt":"2025-07-08T12:05:14","slug":"how-to-get-started-with-revenge-savings","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=33305","title":{"rendered":"How to get started with ‘revenge savings’"},"content":{"rendered":"

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Americans are saving more money<\/a> \u2014 and for some, the change in habit comes down to how they feel about the economy.<\/p>\n

More than 4 out of 10 Americans, or 44%, say they\u2019ve engaged in so-called vibe-based budgeting, according to a new survey by Intuit Credit Karma<\/a>. In other words, they have adjusted their financial habits based on their feelings<\/a> about the economy, regardless of whether their financial situation has changed.<\/p>\n

Younger generations are more likely to say they\u2019ve tried vibe-based budgeting, with 56% of Gen Z and 57% of millennials surveyed.<\/p>\n

Intuit Credit Karma polled 1,058 adults online from June 13 to 17, 2025.\u00a0<\/p>\n

Some of those surveyed point to rising prices<\/a> and worries about a looming recession as contributing to their vibes. Shaped by headlines, market swings and social media chatter, 61% of people surveyed reported feeling more anxious about the economy than they did a year ago.\u00a0<\/p>\n<\/div>\n

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More from Your Money:<\/h2>\n
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Here\u2019s a look at more stories on how to manage, grow and protect your money for the years ahead.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

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Their feelings may also be fueling a surge in saving money, as \u201crevenge spending<\/a>\u201d \u2014 the tendency to splurge after the pandemic \u2014 shifts to \u201crevenge saving<\/a>.\u201d<\/p>\n

\u201cIf you\u2019re concerned about the future, if you have some uncertainty, consumers may be looking to create that emergency fund or create that savings, because uncertainty means you want to be able to put your hands on cash if you need it quickly,\u201d said Charlie Wise, senior vice president of global research and consulting at TransUnion.<\/p>\n

Saving more money is a perennial resolution<\/a>, but emotions shouldn\u2019t drive that habit, financial experts say. Instead, be intentional. Follow these steps to turbocharge your savings:\u00a0<\/p>\n<\/div>\n

Take your \u2018money temperature\u2019<\/h2>\n
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Start by taking a look at how you\u2019re spending and saving, and how comfortable you are with the balance of those habits. To get a good read on your situation, you should know how much money you have coming in and what\u2019s going out. Gather your pay stubs and your bills to dig into the details.\u00a0<\/p>\n

\u201cThere are people that are way off track that are spending everything. And there are people that are the best savers in the world, and they\u2019re sometimes the most miserable,\u201d said certified financial planner Matthew Blocki, founder of Equilibrium Wealth Advisors in Pittsburgh.\u00a0<\/p>\n

By taking \u201ca \u2018money temperature\u2019 \u2014 if you utilize it correctly as a tool \u2014 you can reach the balance between living a good life today, securing the future and not having decision fatigue and not having regrets when you look back,\u201d he said.\u00a0<\/p>\n<\/div>\n

Use \u2018reverse budgeting\u2019 to focus on savings<\/h2>\n
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Vithun Khamsong | Moment | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Review your expenses, but don\u2019t account for every dime yet. Instead, experts say, ask yourself: What needs to be done to achieve your short-term goals, as well as long-term financial security?\u00a0\u00a0<\/p>\n

Earmark money for your savings goals first, then figure out how much you can afford to spend on necessary expenses and, last, how much you may have left over for \u201cfun money.\u201d By getting into the habit of paying yourself first \u2014 what\u2019s known as \u201creverse budgeting<\/a>\u201d \u2014 you build a budget based on your savings goals rather than your spending and expenses.<\/p>\n<\/div>\n

Create separate accounts for different goals<\/h2>\n
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Choose the appropriate account for each savings goal.<\/p>\n

Aim for an emergency fund<\/a> that can cover at least three to six months of household expenses, financial advisors say. A high-yield savings account can be a smart place for those funds. For your retirement savings, fund your employer-sponsored 401(k) plan and\/or an individual retirement account. Open a 529 college savings account to save for education expenses.\u00a0<\/p>\n

Blocki advises clients to maintain two checking accounts: one for fixed expenses and long-term savings, and the other to cover variable costs.<\/p>\n

\u201cFrom that fixed account, we set up autopay for the mortgage and the car payments. We set up auto pulls into the 529 plans for the kids\u2019 college, and the auto pulls into their investment accounts for longer-term goals,\u201d he said. \u201cThen it\u2019s just, it\u2019s on autopilot.\u201d\u00a0<\/p>\n<\/div>\n

Periodically increase your savings rate<\/h2>\n
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Starting to save and invest as early as you can \u2014 even if you don\u2019t have much to put aside \u2014 helps you harness the power of compounding<\/a>. That means you\u2019re earning a return on your contributions as well as on interest or gains you\u2019ve already earned.<\/p>\n

Planning for a recurring increase in your savings rate can be helpful. Fidelity<\/a> recommends raising your savings rate<\/a> in 401(k) and workplace retirement accounts each year, even if by just 1 percentage point.\u00a0<\/p>\n

Do that with college and investment accounts as well, financial advisors say. Small increases can make a boost in savings more attainable and help you feel the pinch far less, so you stay on track.\u00a0<\/p>\n

SIGN UP:<\/strong>\u00a0<\/em>Money 101\u00a0<\/em><\/a>is an eight-week learning course on financial freedom, delivered weekly to your inbox. Sign up\u00a0<\/em>here.\u00a0<\/em><\/a>It is also available in\u00a0<\/em>Spanish.<\/em><\/a><\/p>\n<\/div>\n<\/div>\n\n
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