How To Save $1000 in 90 Days:
Simple Money Saving Tips for Success
This article is geared towards those new to or struggling with their money saving journey. The question “How to save $1000?” to many seems so far-fetched but it is do-able with a little (okay, a lot) of focus and sacrifice. Here at Divas With A Purpose, we believe in setting a S.M.A.R.T. goal (simple, measurable, attainable, realistic and time-based) to jump start our success.
To some it may sound crazy and unattainable, but with any goal if you break it down into small, simpler steps – saving $1000 in 90 days is something that can be accomplished.
First and foremost, you may have to do something that is difficult for most of us – SACRIFICE.
$1000 in 90 days can be broken down a few ways:
$11.11 per day
$77.77 per week
$153.85 every two weeks
$333.33 per month
I’ll be honest when I look at those dollar amounts, it seems a little more attainable than focusing on $1000. Breaking down your goals into smaller, more attainable steps is a great way to ensure success and keep you from getting overwhelmed and frustrated.
Related Article: Goal Planning The S.M.A.R.T. Way
How To Save $1000
First and foremost, evaluate where you spend money on a regular basis and what you can cut down.
- Do you eat out regularly – either for lunch, dinner or both? For me, this was one of the first things I focused on first when working on our savings plan. I would eat out with co-workers almost everyday at $10-15 a day. That adds up quickly to almost $50 – 75 (sometimes more!) a week. I’ll be honest, rather than completely eliminating lunches with my favorite co-workers, I gave myself a budget. When the budget was depleted, I either brought leftovers from home or went home for lunch. Since I was averaging, $100+ every two weeks on lunch when I ate out regularly, I gave myself a budget of $40 every two weeks and put $60 into my savings account. (This was $360 over 90 days for me!)
- Automate your savings. This can be hard…at first. Especially if you’re in a place where your finances are all out of whack. I had an ah-ha moment one day. I was a dedicated employee and deserved to pay myself out of each paycheck. What was the purpose of putting in those hours of service if I had absolutely nothing to show for it? Setting up a direct deposit to my savings account for $25 each pay period ensured I had something to show for it and gave me a sense of accomplishment towards my savings plan. You can, also, slowly increase the dollar amount by $5 or $10 increments. Digit is a great tool you can use to help get you started with this process, too! (This added up to $150 in 90 days! These first 2 steps got me to over half of my $1000 goal!!!)
- Sell something. I make $30-40 a month listing items on sites like Amazon, Totspot (children’s clothing) and eBay. It takes about 1 hour of my time to snap photos and load items. You can, also, look at taking clothing in great condition that you no longer need or use to consignment shops in your city. (This adds up to $180 – 240 in 90 days!)
- I have been a direct sales consultant for close to 12 years. I typically bring in $250-300 a month from my sales and that of my downline after any investments that I may need to make for products or marketing. While direct sales is not for everyone, finding another revenue source can be. Look within yourself and the talents that you have to see what you can offer to others for a price – social media skills, consulting, ghost writing, babysitting services, the list is endless!
- Couponing, store rewards programs and money savings applications are another way to cut costs and save money. Most stores show how much you saved at the bottom of your receipt – take that amount and put it into your savings account. There are lots of websites that will do match-ups for you and send you alerts on the best deals. Do you shop at Wal-Mart? Use their Price Checker App to get the difference back in the form of a gift card on products that are advertised at a lower price elsewhere. I, also, love using Ibotta (read why here), Checkout51 and Shopkick.
- Look at what non-essential bills you have that can be lowered or eliminated – cable, Internet, subscription services, etc. Sometimes you can find creative ways to get those services you really enjoy for little or no cost. For example, Netflix is a popular video streaming service and at approximately $8-9 a month can be an affordable way to eliminate your cable service. This article shares one way you could offset Netflix’s monthly fee and come out paying nothing for it.
- Business Insider shared 13 tips on how to save money quickly. My favorite is inviting friends over for dinner rather than eating out. Think about it – cooking a simple dish at home versus spending $40+ on a meal for two!
MoneyTalkNews shared 16 painless ways to save money. Three of my favorites were having a yard sale (or collaborating with a group for a yard sale); drinking water only when you eat out and cutting cable (gasp!!! I know but it’s a huge savings and if you keep your Internet many of the shows you watch can be found online).
Dave Ramsey’s Financial Peace University was a game-changer for me! I’ve applied many of his principles to my day-to-day life. Two articles of his that can help with your money savings plans are: how to save $1000 in one month and 9 ways to build your emergency fund fast. One suggestion that stuck out was BELIEVING THAT YOU CAN! We are often the biggest barrier to our success. If you are determined, put in the work and make the sacrifices you can save $1000 in 90 days and begin to make a difference in your personal finances.
Our eBook with simple tips for succeeding at the 52 Week Money Challenge, also, has specific steps and ideas you can take to save money.
Let’s Talk About It:
Do you have an emergency savings account?
How do you save money in your day-to-day life?