Do you want to save $1000 in 60 days? Sure you can!
Do you know, a series of surveys conducted by GoBankingRates.com in 2016 & 2017 has shown that,
Almost 40% of the Americans have a whopping $0 in savings which has increased by 34% compared to 2016.
And 57% of all Americans (including the ones with $0) have less than $1000 saved in their savings account.
Which is kind of concerning, to be honest!
I realize that most of us aren’t even slightly pleased about this money-saving situation, but given those numbers, I think we might need some changes around our lives!
Being there is what made me this critical a** minimalist I am today!
Start by thinking what you’ll do with the extra $1000
Saving a $1000 is a huge step toward taking control of your finances, improving your relationship with money and eliminating guilts that often come with spending!
I am not the one to tell you what to do with your savings, it’s completely up to you how you spend it.
Moreover, you’re far more likely to complete this challenge if you have a goal in mind. Download the 60-day money saving planner (given below) and mark it with “Funding _______”. You can fill your end goal in the blank space.
Want to buy a ticket to Hawaii? Want to buy that designer dress you wanted for so long? Or you’re up for a good high APY savings account? Do it!
The Actual Challenge:
The challenge here is simple,
- Download the planner
- Follow the deposit goal for each day for 60 straight days
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Strategies & Money-Saving Tips That’ll Help to Kickstart Your Challenge
1. Cut Unused Subscriptions and free up $200+
Small subscriptions don’t usually sting that much but a lot of them are connected to your account, it all as up!
Log into your credit card and bank accounts. Check statements for the past month or two.
You’re looking for ANY subscriptions whatsoever,
- Netflix, Amazon Prime, Hulu
- Cell phone and internet
- Spotify, Youtube premium
- Magazines and newspaper
- software subscriptions (apps, antivirus, etc.)
- Game rental and online gaming
Choose the ones you cannot function without and just cancel the rest! Simple as that!
2. Shop Like a Pro
Shopping is necessary to basically run our lives, you can be frugal but cannot fully eliminate shopping off your routine. What you can do is use a few shopping strategies that’ll save you a hell lot of money!
Whether you shop online or offline, preliminary research is often needed!
For example, last month my mother bought a luggage bag the old fashioned way (A.K.A actually going to the store). After my knowledge of the purchase, I checked the price online where it was $56 off with free delivery!
Moreover, often there are few online discount options that are only available if you get check-in from sites like Rakuten! Whether you but from Amazon, eBay or any other online store, Rakuten get you discounts like no one!
And if you often use credit cards, there are plenty of discounted offers to be availed!
3. Cut Down on Heavy/frequent Purchases
Straight up, put a hold to the expensive and/or frequent small (and not-important) purchases you’re about to make for two months now.
Those new $500 personal care kit looks good but you need to save $1000 in 60 days, what a bummer!
Money slips from our grip like sand, we also spend small amounts on things here and there and at the end of the months, all is that $10 in your account that is staring right back at you.
Death by a thousand cuts!
So it is better to just stop the expenses you’re about to make unless they are very crucial to your day to day life!
4. Make More Money During your Off Hours
I’ve always been a believer that to save more money you have to make more money!
So to cope with your new joined challenge, you might as well have to find ways to earn a few more bucks every now and then.
Or you can search for various websites that pay $200 or more to people who contribute articles on their websites. There are ultimately various things you can do, just make sure it is legit!