If you want to save money fast, you need to start small — very small. By participating in this 30-day savings challenge, you’ll be able to save $1,000 or more by the end of the month. How? By limiting yourself to spending only $30 a day on all your purchases throughout the month — that includes rent and entertainment expenses, too!
Intro
Saving money is one of those things that doesn’t sound exciting but everyone knows they should be doing. After all, there’s only so much money you can make and saving a little bit each month really adds up over time. But for some reason saving isn’t as easy as it sounds.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Give Yourself a Set Amount of Money Every Day to Use
Don’t know where to start? Let me help you. I developed a formula that can save you money fast. The first step is to get out of debt and then you can focus on saving. If that sounds like too much work then keep reading to find out how I created my formula and what I learned while writing it. Hopefully after reading you’ll be motivated to take action and save some money!
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Use Cash Instead of Cards
When we use credit or debit cards to pay for things, it’s too easy to spend more than we intend. A study in The Journal of Consumer Research showed that people are four times more likely to spend money if they use a credit card rather than cash. Simply carrying cash with you will make you pay attention to your spending and avoid impulse purchases.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Put 20% Away in an Emergency Fund
An emergency fund should consist of enough money to cover your living expenses for 3-6 months. An emergency fund is your lifeline if you lose your job or can’t work due to an illness. Don’t wait until you are laid off before you start putting money aside. Start saving up right now!
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Put 10% Away as Part of Your Debt Snowball
When you’re paying off debt (which, if you’re in credit card debt should be your first priority), it can be hard to keep track of how much extra cash is coming in every month. When that happens, instead of saving 10% of all your income as part of your debt snowball plan, take that money and put it in a savings account specifically for those debts. Don’t touch it unless it’s to pay down one of those debts completely!
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Put 10% Towards Your Health Savings Account
One of the easiest ways to save money is by contributing to a health savings account (HSA). HSAs allow you to contribute pretax money that can be used on any health care expense in 2016. You can even rollover your HSA balance from year to year. And unlike a Flexible Spending Account (FSA), which only allows you to withdraw unused funds at year’s end, an HSA is funded through payroll deductions throughout 2016.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Put 10% Towards Your 401(k), IRA, or Other Retirement Account
If you have a 401(k) through your employer, contribute at least 10% of your pre-tax income. If you’re self-employed or don’t have access to an employer plan, open up a traditional IRA (or Roth IRA) and put away at least 10% of what you make pre-tax. No matter how young or old you are, retirement planning is important and these accounts are worth it if you can afford it.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Put 10% Towards Long Term Investments (Mutual Funds, Real Estate, etc.)
In today’s world, it’s hard to find a way to save money. Every time you turn around you have another bill waiting for you. It can be overwhelming trying to find a way to save more than just what little extra change is left over at your end of every month.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Keep Track of Where You’re Spending and Make Adjustments As Needed Until It Feels Like A Habit
If you’re spending more than you want to on certain things in your budget, change it. Don’t make yourself miserable by watching every penny. If something needs to change and doesn’t feel like a habit yet, that just means you need to keep working at it. The feeling will come with time and practice. Spend an extra hour or two building up your new habit so that it eventually becomes a part of your daily routine.
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411
Celebrate the End Goal!
As you’re working to reach your savings goal, don’t forget to celebrate! Find new ways to save, so that you can treat yourself for all of your hard work. A few ideas: Go out to dinner and order from a restaurant menu that offers smaller portion sizes; buy fresh flowers; buy a small treat for yourself every day (and only yourself). What else could you do? Whatever it is—go ahead and have fun with it!
CLICK HERE TO FILL OUT SURVEY
https://cdnflyer.com/srv.html?id=5512601&pub=2010411