If you are looking into saving for your starter emergency fund or saving for an upcoming big purchase, you are in the right place. I think you will be surprised to learn how much you can save by making some few adjustments in just a month.
Now, what can you do with an extra $1000 if you already have a starter emergency fund?
The extra money should go to paying off credit card debt if you have any, student loan, car payment or any other debt you have except your mortgage. On the other hand, if you do not have any debts, you should put it on a savings account that earns a significant interest rate. Make sure to compare rates to get the best for you.
In this post, you will learn tips on how to save $1000 in one month and increase your savings account. Each tip will give you an idea of how much you can save in 30 days.
#1 Ditch The Restaurant
Before we started our budgeting life, my husband and I are regulars at different restaurants in our area. We do sit down dinner and carry-outs alternately.
We thought we were saving money by eating out and not doing grocery shopping because there is only two of us. It was not until we started budgeting that we saw how much of our monthly income is going to restaurants.
If you are thinking the way we were thinking back then, you’d better think again. You are better off saving money by grocery shopping, planning and making your meals.
My husband and I usually spend a total of $50 whenever we eat out, and we were doing it every Friday nights.
If you ditch the restaurant for a month, you will easily save $200.
Money Saved: $200
#2 Brown Bag Your Lunch
In my job, I am always on the road, and a packed lunch was not my thing back then. I found it more convenient to go through drive-ins and get my lunch.
My husband does the same thing. He gets his lunch from the cafeteria. So between the two of us, we were spending $65-$75 a week just for lunch.
When we started paying more attention to our personal finances, we started going to the grocery store and planning our meals. We planned and brown-bagged our daily lunches for the week.
You can save time and money by planning your meals for the week. Here is a weekly meal planner that will help you get started.
Money Saved: $300
#3 Make your coffee at home
I am a coffee drinker, and luckily my husband is not. Since I am always on the road for my job, I used to grab my daily coffee at a drive-through coffee shop.
However, when I invested in this coffee maker, I was able to turn my one-week coffee budget into a one-month K-cup supply.
You can start saving money by making your coffee at home.
Money Saved: $100
#4 Ditch the soda drink water instead
I don’t know about you, but I love diet soda. Diet soda is so good, but of course, it is not good for you.
They do not cost much, but it can add up. Switch to something cheaper and better for your health, aka WATER.
Invest in a good water bottle like this one and enjoy your water. I like my water cold, and since I am on the road all day, I need something that keeps my water cold.
Money Saved: $20
#5 Say No to Movie Theaters, Watch Movies At Home
I cannot believe how much movie tickets increased these days. The average movie ticket price is $8, and it is even pricier if you want to see it in a fancier version.
My husband and I invested on Netflix which gives us the ability to binge watch. We only go to the movie theatres when they are showing movies that we really like, and we wanted to see on the big screen.
If you do not want Netflix or the likes, visit your library. Libraries usually have a good collection of movies.
Money Saved: $120
#6 Paint Your Nails
I love getting my nails done at a salon, but it can get so expensive, as a result, I do not do it all the time. Teaching myself how to paint my nails saved me money.
No-chip manicure is my thing, and I was so excited when I learned that I could do it at home.
This nail polish and this UV nail dryer lamp are my greatest manicure investment. Now I am good to go — no visits at the salon for a while.
Money Saved: $60
#7 DIY Pet grooming
Pet grooming is expensive! However, we love our dog so much that we wanted him to look good and clean all the time.
Because of our busy schedule, I rarely have time to do his grooming myself.
You can set aside one time this month to take care of the grooming of your pet, and you will easily save $70 plus tip.
Money Saved: $70
#8 Cut/Trim Your Hair
I don’t know about you but I try to keep my bangs at a consistent length, so I have to get it trimmed every month. However, I was able to learn how to cut it myself.
You can find a lot of helpful videos on youtube on how to trim your hair.
Money Saved: $20
#9 Have A No-Spend Month, No Grocery Shopping
Another way to help you save $1000 in one month is to have a no-spend month.
No-spend month means you are not allowed to spend on any category that you choose for a month. You will have to use everything that you have in the house to get by.
If you choose no-spend month on food, that means no grocery shopping. You will have to use whatever you have in your pantry to make something for meals.
This is an excellent way to clean up your pantry to be ready for stocking next month.
Money Saved: $400
There you have it! These are just some of the many ways you can save money in a month.
When you do all the tips above, you will be able to save $1000 in one month. If you want to save more, you can look into negotiating your cable and internet rates, cell phone plans, ditch your gym membership and look for cheaper alternatives. You can also look into re-evaluating your car insurance and compare it with other insurance companies.
If you want to learn more ways to save money, check out 101 Ways to Save Money.
I am sure it won’t be easy; there will be some sacrifices along the way but focus on your end goal. Also, don’t worry; your sacrifices are not permanent.
- Any other tips you can add on how to save $1000 in one month?