How To Save $1000 In A Month? 7 Easy Tricks To Save More Money

How To Save $1000 In A Month

Discover how to save $1000 in a month. Saving money should not be as hard as it seems. I will show you 7 easy tricks to save more money.

Introduction To Saving Money

Unfortunately, on many occasions life can take an unexpected turn of unfortunate events, leading to financial decisions that could be fatal for financial freedom and prosperity. Divorces (including spousal payouts), bank loans with high-interest rates, high living expenses…they can all lead to pretty bad outcomes, if not treated proactively and properly.

All this leads to a ridiculous amount of anxiety and stress, including the frequently asked question: How will I be able to pay my bills?

However, saving money should not be as hard as it seems. Everybody can become a successful money saver. Changing your everyday habits step-by-step can lead to great results, and you could save hundreds of dollars per month without making a serious effort!

All of the tips are actually pretty simple and while it’s true that there are instances where it may be harder for an individual to save money, everyone can at least be able to balance their budget and decrease any anxiety around cash flow.

If looking to save money, these are some of the tips that are easy to grasp and comply with, which in the end leads to financial freedom and prosperity.

How To Save $1000 In A Month

First Step To Saving: Checking Your Bank Account

Knowing where you spend your money is the first step you have to take before you start saving. When you realize where your money goes, you have to make a list of things that you don’t actually need. For example, Amazon Fresh account is charging its customers a few dollars per month independently of the usage of the account. So, if a person uses this account only one time, he/she will be charged a few bucks every month until he/she decides to deactivate the account. In finance, this cost is called „recurring cost“. This cost is literally money out the window, of course, if the case is one-time use, and it should be stopped immediately.

Leveraging Emotions

If spending is emotional, it should be used as an advantage. If there is, let’s say, some kind of financial goal (paying off a credit card or saving for a vacation), a person should sit and visualize or write out how it feels achieving that goal. This strategy could and should be used for retirement savings.

Getting On The Positivity Train

Most people rarely talk openly about money, and when they do, it is most likely in a negative context:

  • “Money is the root of all evil”
  • “I’ll never get out of debt”
  • “I’ll never be able to afford that.”

You should try to say only positive things about money. In fact, money is NOT the root of all problems, but your mindset is.

Knowing If You Really Want It

This may sound easy, however, it is true. If people want something, odds are they will have it. When buying something, people should ask themselves: “If buying this means I have to give up my financial goal, do I still want to buy it?” If somebody did emotional work around his/her goals, he/she will most likely pass on that purchase. This, in fact, is a must-have tip on every „how to save money“ list.

Getting In Alignment

Guess what? If actions aren’t aligned with goals, goals will not be achieved. When it comes to money, there are three main options: Making more money, spending less money, or both. Every day, people make financial decisions, independently of their importance and size. When choosing between a vacation or a new car, it is a decision to make, probably one of the biggest and most important financial decisions in life.

Changing Your Habits

Changing everyday habits, for most people, could be very difficult to accept and comply with. However, making small adjustments in everyday life can be a turning point from a financial point of view. Cooking and making coffee at home, smart shopping, having cheaper alternatives for daily or weekly activities, home work-outs, reducing night-outs…All of this can be very useful and should bring everyone closer to financial freedom and prosperity. Don’t miss these ways to be frugal and save money.

Cutting More Cost To Save More Money

As the subtitle says, there are always more costs to be cut and it should be done if the main focus is saving more money and the sum must be increased. Cutting cable package down, decreasing data usage on mobile phones, tracking electricity and oil usage, using coupons and reward programs: all can be used for additional cost savings.

How To Save $1000 In A Month? 7 Easy Tricks:

1. Start Your Own Money Saving Challenge

In one of my previous posts, I was talking about easy and fun money saving challenges you can start. These were some long-term methods to save money, but you can create something similar which will allow you to save a lot of money in one month only. For example, if you save $1 on the first day, $2 on the second day, $3 on the third…At the end of the month (day 30) you will have $465 which is almost half of your $1000 goal.

2. Check Your Bank Account On A Daily Basis

If you don’t do this already, you should start now. Simply start tracking your spending and see if you can cut some unnecessary costs. If you don’t track your expenses you will never be able to control them.

3. Set A Weekly Instead Of Monthly Budget

Planning your expenses one month in advance can be very hard. Figuring out how much money you will need in a week is much easier to manage. Some of the expenses are fixed and you pay them on a monthly basis (rent, mortgage, car payment) but they are planned and they don’t blow your budget. On the other hand, things like grocery shopping, buying clothing, gas or going to cinema – they often lead to financial issues because the amounts are much lower, you care less about them and you don’t plan them. Plan your expenses for the following week and make sure you don’t spend more than your planned budget for that week.

4. Sell Stuff You Don’t Need

This can easily bring additional $100-$300 which you can put in your savings account. Check out your basement or garage and try to find things which you can sell easily like smartphones, laptops, your old clothes, books, vinyl records and CDs etc.

5. Try Free Activities Instead Of Paid Ones

Most people spend much more money on weekends. This is simply because they have more free time and they want to go out and have some fun. Instead of inviting your friends to some fancy restaurant you can simply make a dinner (or barbecue) at your place. Instead of going to cinema, you can watch a movie at home. This way you can save additional $100 or more in a month.

6. Work More To Save More

After two or three weeks, you will have an idea of whether you will achieve your monthly goal of $1000. If you cannot save more to meet your goal, you can try to earn more instead. In my previous post, I explained how you can quickly earn $100 bucks.

7. Get Rid Of Cable TV And Other Unnecessary Costs

This is one of the easiest ways to save money. Cable TV can cost anywhere from $20 to $100 per month. If you buy a Netflix subscription instead, you could easily save an additional $20 to $50. If you drink soda very often, you could switch to water for one month. This is much healthier and it could easily bring an additional $50 or more to your savings account.

How To Save $1000 In A Month – The Conclusion

Today’s financial climate is very volatile. Especially after the COVID-19 virus emerged, a vast number of workplaces became sufficient and employers were not able to pay their employees. This led to many dismissals and a very risky and dangerous situation from a financial point of view: What will happen with these people? The majority of the newly unemployed won’t have any source of income or cash flow, and they would have to rely on their savings, under the condition if they have any, of course. That is why trying to save money on every possible step is crucial. These types of unfortunate events are possible at all times and people need to be prepared to make an effort.

As mentioned above, incremental, step-by-step changes could mean a lot and change literally everything in these highly volatile times. No workplace is secured and working employees easily become unemployed. Unfortunately, this pandemic showed that people who did not prepare for the worst-case scenario and did not manage their financial assets will often get „swallowed“ by the economic crisis.

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