How To Save 1000 In A Month – 21 Tips For $1000 Savings In Your Pocket
How To Save 1000 In A Month (Yes It Is Possible!)
21 Tips To Keep $1000 Savings In Your Pocket (Where It Belongs)
Many people think that it’s tricky to save $1000 a month but that’s because they take the wrong approach.
Rather than expecting to save $1000 in one big hit, the secret is to start shaving your expenses from many different areas of your life.Â
These smaller amounts do add up!
By adding several savings tips to your monthly routine, it is indeed possible to save $1,000 each month.
Try these tips to greatly increase your savings and save 1000 in a month:
HOW TO SAVE 1000 IN A MONTH
TIP# 1 – Get rid of your home phone
Do you really need a home phone and a cell phone?
Do the math and figure out how much you could save by eliminating your home telephone.
HOW TO SAVE 1000 IN A MONTH
TIP# 2 – Cut back on your cell phone plan
Look at the minutes you’re using as well as the number of texts you’re sending and receiving.
It’s likely there’s a less expensive option for you (but you won’t know unless you check!).
HOW TO SAVE 1000 IN A MONTH
TIP# 3 – Consider dropping your gym membership
Go for a walk outside.
Buy some used weights or fitness equipment.
There are tons of exercise videos available to watch via YouTube.
Watch these freebie videos instead (trust me – there are HUNDREDS out there on YouTube) and get fit without even leaving your home.
HOW TO SAVE 1000 IN A MONTH
TIP# 4 – Try staying at home for your vacation, instead of splurging on an expensive get-away
Hit all the tourist spots.
Eat at the fancy restaurants.
You can sleep in your own bed and save a bundle.
HOW TO SAVE 1000 IN A MONTH
TIP# 5 – Take your lunch
I think many of us underestimate just how much more expensive store-bought food is
Studies have shown that over 2/3 of workers spend over $2,000 a year on lunch.
Why not pack your own lunch instead?
HOW TO SAVE 1000 IN A MONTH
TIP# 6 – Sell the things you no longer use
Have a garage sale or sell all the items you no longer use on eBay or Craigslist.
Are you potentially sitting on a treasure chest? A lot of us.
Declutter your home and get out the things that you no longer them but can be sold.
I always make $100s of dollars when I do a quick cleanup of no-longer-used items in my home.
HOW TO SAVE 1000 IN A MONTH
TIP# 7 – Look at your ATM fees
If you’re unable to conveniently use an ATM for free, look for a banking alternative that saves you money.
You do not want to be throwing your good money down on the drain on these unnecessary expenses!
HOW TO SAVE 1000 IN A MONTH
TIP# 8 – Buy generic items
Do you really need brand name water, aspirin, milk, and spices?
Really, really?
If not, make the switch and buy the generic brand for much less money.
HOW TO SAVE 1000 IN A MONTH
TIP# 9 – Use coupons
Coupons are not just for groceries (but hey you can save A LOT on groceries using coupons).
Take a look at a site like Groupon.
You’ll not only save money but find lots of local things to do at a much lower, bargain price.
HOW TO SAVE 1000 IN A MONTH
TIP# 10 – Cut back on your utility usage
I like to call things like electricity INVISIBLE SPENDING.
It costs money whether you realize it or not, but you don’t actually see the real-time costs ticking away while it is happening.
Tips to save money on electricity, gas and water.
Adjust the thermostat a little.
Be a little quicker in the shower.
Eliminate drafts around doors and windows.
It really does add up.
HOW TO SAVE 1000 IN A MONTH
TIP# 11 – Stop smoking
Smoking a pack of cigarettes each day in the US will cost you around $2000 a year.
Think that’s a lot?
Try smoking in Australia where cigarettes costs at least $25 a packet (up to $40).
That’s around $10,000 of wasted money a year.
Look out for your health and your bank account by eliminating this habit from your life.
HOW TO SAVE 1000 IN A MONTH
TIP# 12 – Be careful with shipping fees
If you shop online, you’re spending more on shipping over the course of a year than you realize.
Start tracking it. These little sums DO add up.
HOW TO SAVE 1000 IN A MONTH
TIP# 13 – Look for free activities
Concerts are expensive, but listening to a local band is often free.
Actively search for these free options.
Go visit a park with your kids.
Swim at a beach.
Go for a bush-walk or a hike.
Make it your goal to have fun WITHOUT spending lots of money.
HOW TO SAVE 1000 IN A MONTH
TIP# 14 – Do it yourself
The internet has information available for you to do nearly anything yourself.
Check out YouTube.com for information about tiling your bathroom, fixing a flat, or putting in a new sink.
I can’t tell you how many urgent things I have fixed (on my computer, in the bathroom or around the home) by watching YouTube videos, purely because I couldn’t get a professional to look at the issue as quickly as I wanted them to (now I will always see first if it’s a quick repair I can do myself).Â
HOW TO SAVE 1000 IN A MONTH
TIP# 15 – Buy last year’s electronics
We all WANT the latest version of things but do we really NEED it. Usually not!
The previous version of a software program can be 80% less than the most current.
A quick way to save a bundle on electronics is buy opting to get the last version of a cell phone or other electronic gadget (even better, find one second hand that is still under warranty).
HOW TO SAVE 1000 IN A MONTH
TIP# 16 – It’s okay to haggle
You’ll never make more money in 30 seconds than you will by simply asking for a lower price.
Once again, you will be surprised at places that allow this.
Here in Australia we literally have a very popular electronics store with a sign that says “ASK US FOR THE LOWEST PRICE” which most people ignore.
At the very least ask if the store will price match an identically stocked competitor product (as many do).
HOW TO SAVE 1000 IN A MONTH
TIP# 17 – Buy used books
What does a new book have that a used book doesn’t?
Trust me, as a recovered new-book-addict there isn’t much difference at all, except in the cost.
Alibris.com and Abebooks.com are two places to find good used books in addition to charity shops.
HOW TO SAVE 1000 IN A MONTH
TIP# 18 – Buy other stuff that’s gently used
Great used items that are often just as good as brand new items include toys, furniture, bikes, cars, jewellery, kids clothing, tools and more.
HOW TO SAVE 1000 IN A MONTH
TIP# 19 – Consider eating less meat or eliminate meat altogether
Meat is much more expensive than many other protein options like rice and beans.
Try to incorporate at least one meat-free day into your week.
HOW TO SAVE 1000 IN A MONTH
TIP# 20 – Raise your insurance deductibles
This one is pretty obvious. If it’s a low-risk insurance product (so you aren’t worried about making a change) higher deductibles equal lower payments.
HOW TO SAVE 1000 IN A MONTH
TIP# 21 – Get rid of the premium cable stations
Premium cable channels are very expensive.
Ask me how I know (from experience! That is, having a husband who is obsessed with keeping the premium sports channels – sigh!)
Do the math to see how much money you could save by ditching these premium subscriptions.
Consider switching to a different cable provider that offers a better deal or getting rid of it altogether.
So there you have it – 21 tips to help you save $1000 a month.
Did you find anything on that list that you could implement today?
Remember to save money, you actually need to take action and not just THINK about doing it.
Save some money and it will save you.
Being in control of your finances is the best stress reliever because if you are saving, you are succeeding.
Other quotes to keep in mind:
He who buys what he does not need steals from himself – Swedish Proverb
Do not save what is left after spending but spend what is left after saving – Warren Buffet
Earning a lot of money is not the key to prosperity. How you handle it is – Dave Ramsay
The way to build your savings is spending less each month – Suze Orman
Saving a small amount soon builds up to a large amount – Scottish Proverb
So which tips will you be combining this month to create your own $1000/month savings plan?
If you have any other bonus tips, I would love to hear them too!
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