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Challenge yourself to save $3000 in three months.
At some point in your life, you’ll find yourself needing money right away. And if you haven’t built your emergency fund yet, then you’ll be in trouble.
That’s why today, I am going to show you ways on how to save $3000 in 3 months. It may sound a lot but it is doable!
How To Prepare Yourself For This Money Saving Challenge
Setting realistic goals should be the first thing that you will do before diving into this challenge.
Saving $3,000 cash would be pretty tough to do in a time span of only three months. However, if you plan accordingly, it could be done.
This saving challenge will help you save $3000 in 3 months, so technically, you would want to save $1000 every month. That is $250 per week if you may.
As you can see, breaking the amount into bite-sized goals makes it achievable.
Ways To Save $3,000 In 3 Months
Now that you know how much you will be working on daily, weekly, and monthly, it’s time to discover ways to earn these amounts.
Coming up with $3000 in 3 months can be easily done if you pick up side jobs or work overtime. However, that is putting extra time away from your family.
Therefore, before considering taking on a side hustle to make extra money, start with what you can do to save money without putting in extra hours of work. Here are some ideas.
1| Lower Your Monthly Bills
We all have bills that we pay monthly as part of our living expenses. However, all those bills do not necessarily be so high. There are ways to lower your monthly bills and save some money.
Check out this post on the best tools to reduce your monthly bills.
2| Cut Your Cable
Cable is nice to have, however it can be so expensive especially if you have all those channels that you don’t even know that you have.
You can save some money if you switch your plan to a lower package that doesn’t have those unnecessary channels. You can even just stick to the basic plan if you want.
3| Check Existing Subscriptions
Reevaluate your subscriptions. Do you still need them? If not, cancel it and save money.
If you do not have the time to skim through your emails to find your active subscriptions, this company will do that for you. They will search for forgotten subscriptions and they will cancel them for you.
4| Evaluate Food Budget
It is no secret that food takes the biggest chunk of your budget. Groceries, eating out, and carry out all contribute to your food budget.
You can save money on food by meal planning, trimming down your grocery list, and using coupons and money-saving apps when grocery shopping.
Check out this list of the cheapest dinners you can do to save money.
5| Don’t Miss Out On Cash backs
I don’t know about you but I love cash back. I mean who wouldn’t want to be paid while doing what you already do.
Cashbacks can add up and would help you achieve your goal of saving $3000 in 3 months.
I love using this card because I get cashback from everything. They even match the total cash back you earn in your first year.
6| Save On Gas
Gas prices fluctuate but most of the time, they are not cheap. It would be nice if all of us can just work from home, or can bike to work. But that’s in a perfect world.
In reality, it helps if we can find ways to save money on gas. For instance, these apps can help you save money on your gas the easy way.
7| Reduce Your Phone Bills
Believe it or not, most of us have been overpaying for cell phone service for years. Just because you pay more doesn’t always mean you’re getting better service. Check this post on how to lower your cell phone bills and save money.
8| Do A No-Spend Month
A No Spend Challenge makes you stop spending money on anything besides your bare essentials for a certain period of time. It is one of the most effective ways to build your savings.
Check out this post on how you can use a no-spend tracker to boost your savings.
9| Minimize Dining Out
Eating out is easy and delicious, but expensive. If you are spending a lot of money dining out, you may be surprised at just how easily you can save money by cutting back food costs.
Meal planning can definitely help you if you are trying to minimize eating out. It also cuts down on the number of times you need to go to a grocery store during the week—saving you money.
10| Curb Frivolous Spending
Frivolous spending is a type of spending that is not useful. In other words, it is a waste of money or time.
If you are a frivolous spender, you’ll be surprised by how much you can save when you stop spending on unnecessary items. Here is how you can stop frivolous spending.
11| Open A New Checking Account
One quick way to get fast cash is to leverage the bank’s sign-up bonuses. Banks typically use these bonuses to bring in new customers and new deposits. This bank is offering a $200 cash bonus when you open a new checking account with them.
How To Save $3,000 In 3 Months Chart
You can download your free $3000 in 3 months challenge here and start saving!
How can I save $5000 in 3 months?
If you want to save $5,000 in just 3 months, you will have to save $1,667 per month or $417 per week.
How much do you save doing the 52 week challenge?
You can save a lot of money when you do a 52-week challenge. All you have to do is set your goal amount and divide it by 52. Check out these 52-week money-saving challenges you can do to save money.
How can I save 1000 a month?
You can save $1000 in one month by finding ways to save $33 a day or 250 per week. Here are some ideas on how you can save.
Final Thoughts On How To Save $3,000 In 60 Days
Saving $3,000 can be a bit much for a short period of time. However, it is totally possible. All you have to do is follow the money saving tips above and commit to it. It will not be easy but it will be all worth it in the end.
Do this how to save $3000 in 3 months challenge and boost your savings account.
Saving Money Related Articles:
- How To Save Money To Buy A House
- How To Save $10,000 In A Year When You’re On A Tight Budget
- Importance Of Saving Money
- Best Blogs On Saving Money
- How To Use Apps To Save Money On Groceries