Many Americans find themselves deep in debt. There is more spending than there is earning. Therefore, it is important to know how to save some of what you earn. Saving $1000 in a month seems like an impossible task; however, it can be done. Here are some tips on saving $1000 in just 30 days:
Open a Savings Account
After you open savings account, set up automatic payments to be put into the account each time you get paid. Even a little bit goes a long way. It can be a start to help save $1000.
Take a Sack Lunch to Work
It is tempting to go out to eat with a co-worker. However, this can get expensive. You can take your own lunch to work and save money. Pack yourself a sandwich, chips, and a drink. Many businesses have a microwave, so you can microwave leftovers.
Get an Additional Job
If you really want to start saving, find a part-time job. You could mow lawns, deliver groceries, or drive for Uber. It can be difficult for you to sacrifice time with your family, but it would help you save additional money.
Stay away from Brand Names
Buy generic brands when you go to the store. Brand names are quite a bit more expensive than generic brands. Do not get caught up in having to have a brand name. Generic names will help you put cash into your savings. There are even cheaper supermarkets that offer generic brands at a cheaper price.
Cancel your Memberships
Cancelling your memberships can increase your savings. These are luxuries, not necessities. You can cancel your membership to the gym or the club. These can get expensive.
Create a Budget
You need to know how much cash you spend in a month. Therefore, you need to write down exactly what you spend as opposed to your income. Include your monthly bills, gas money, and groceries. You also want to factor in money for unexpected expenses, such as car repairs or household repairs.
Sell your Things
There are numerous places where you can sell your unwanted items for cash. Go through your closets and find things you can no longer use. You can sell books, electronics, jewelry, clothes, and trinkets. Many companies online will buy things for you. You might also consider having a garage sale.
Dodge those Expensive Interest Rates
Your credit cards should be paid off each month. The interest fees can get extremely high. Do not let your credit card bills get high. This could cost you a lot of cash.
Cancel your Subscriptions
You do not need subscriptions to Netflix, and you do not need magazine subscriptions. Cancel these and you can enjoy some savings. You can find free sites online where you can enjoy the same information.
Check your Cell Phone Bill
Ask your carrier about possible savings that they offer. You might find a better plan, or you might find discounts. You could even consider switching companies.
This is not legal or financial advice. Please consult a legal or financial advisor for your specific situation.
