There’s a range of reasons why you may need to work out how to save money quickly. And if you really need to find out how to save $1,000 in 3 months, doing it this fast may seem impossible. Luckily, it’s absolutely not!
Perhaps you’ve just been hit with an unexpected expense. Maybe you’ve suddenly realised that you should pay off your debt as soon as possible or that you want to start investing to set up your financial future.
You could be planning a vacation in a few months or you’ve finally decided that you really, truly need to have an emergency fund (great decision!).
Whatever your reason, it’s surprisingly simple once you see how to save $1,000 in 3 months. With a few minor tweaks in your day to day life, you’ll easily be able to see how to save money quickly and be on your way to reaching your financial goals.
How to save $1,000 in 3 months
Saving $1,000 sounds like a big number. It may even sound way too big for you, especially if you’re living paycheck to paycheck now and are finding yourself unable to save anything at all.
Well, it probably won’t surprise you to hear that this isn’t the way to live. You may – just – be getting by now, but you never know when a medical emergency will strike or a tree branch falls on your house or something.
Not only does that stuff suck from a personal perspective, it costs money that you don’t have.
So is it even possible for someone to figure out how to save money quickly?
In fact, if the scenario above sounds like you, you may be surprised to hear that figuring out how to save $1,000 in 3 months is actually completely doable.
After all, it’s equivalent to saving only $11 per day.
When it’s broken down like that, it suddenly sounds way easier to see how to save money quickly, right?
And while you may first think that it’ll be a struggle to see just how to cut $11 from your daily expenses, I’m here to show you that there are so many simple ways to do this.
With only a tiny bit of self-discipline, you’ll be well on your way to making one of the best financial decisions you’ll make this year.
This is particularly the case if you don’t have an emergency fund. Everyone should strive to have at least three months of living expenses in an account just in case an unwelcome surprise strikes.
While $1,000 may be less than that for you, it’s certainly a great start.
It’s also a fantastic way to get you on the path to saving consistently. After all, once you’ve managed to save $1,000, what’s stopping you from saving another $1,000?
If you can do it for an entire year, saving $4,000 is a great amount to have as an emergency fund.
Or maybe you’ll see that you can implement more of these saving strategies than you first thought, resulting in you saving $1,000 even quicker than expected.
After all, if you’re trying to figure out how to save money quickly, then the faster the better!
And all that extra money you’re saving can then be put to paying off your debt or towards setting yourself up for financial freedom by being put into your investments.
Or, you know, a holiday is nice too. Whatever works for you, I can guarantee that you’ll never regret putting these saving strategies into practice!
RELATED ARTICLE: THE DEFINITIVE GUIDE TO GETTING OUT OF DEBT
Bonus worksheet to help you see how to save $1,000 in 3 months!
Tracking your savings while putting these tips into effect is a great way to see how you’re going.
It’s also an excellent motivator to keep going for the full three months!
So we’ve created this FREE worksheet to make sure you’ll be successful.
Step 1: Find out just where your money is going
The first step in figuring out how to save $1,000 in 3 months (or only $11 per day!) is to see what your current expenses are.
Most people are surprised by just how much they’re spending in their day to day lives. Without even realizing it, many will find themselves with no money at the end of their pay cycle, with no real idea just where all that money has gone.
And when figuring out how to save money quickly, not knowing where your money is going is a real killer.
So the first thing you need to do is figure out just where it’s going.
Personal Capital is a great, FREE tool for doing this. You can connect all of your bank accounts and cards to it and it will show you your exact financial picture.
This is absolutely one of my favorite tools helping to see just where you are financially and, importantly, the areas where you can improve.
By clearly showing you where your money’s going in and where it’s going out, you’ll easily be able to see where you may be over-spending – perhaps without even realizing it – allowing you to focus your budget-trimming efforts on that area.
Find out more or sign-up for free at this link.
Step 2: Start reducing your spending
Remember, if you’re trying to see how to save $1,000 in three months, all you need to save is $11 per day.
It sounds far more doable when broken down like that, right?
You don’t even need to do all of these tricks to save that amount. Just doing one or two of them will push you over the line (although you’re free to do more than that, of course!)
1. Bring your lunch to work
A survey found that 66% of American workers buy their lunch instead of bringing it to work, spending an average of $37 per week.
This is equivalent to just over $7 per day. That’s clearly a significant portion of your daily $11 saving goal.
So spending a tiny bit of effort to get your lunch ready in the morning is definitely worth it, especially when you’re trying to figure out how to save money quickly.
Certainly more worthwhile on spending almost $2,000 just on lunch!
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2. Save on your groceries
If you’re looking for how to save $1,000 in 3 months, I’m sure that you’ve already trimmed your grocery bill down as much as possible.
(And if you haven’t, check out the tips in this article on How I Saved $300 on Groceries in One Month.)
But did you know that there are apps that give you cash back simply for buying groceries and other things that you’d probably be buying anyway?
My absolute favorite for doing this is Swagbucks. It’s a super easy way to save money with zero effort.
It does this by giving you cash back on all your purchases at literally tens of thousands of online stores through gift cards for places like Starbucks, Walmart, Amazon and even PayPal – which is essentially like getting cash.
Better yet, if you sign up for free through this link (which takes about 10 seconds – although don’t forget to verify your email address!), you’ll get a $10 welcome bonus!
(Plus, if you refer a friend after you’ve signed up, Swagbucks will give you an extra $10!)
This means that not only is it super easy to earn $11 back each time that you go to the supermarket, but you could earn way more than that simply in signing up and getting your friends on board too!
So if you’re trying to figure out how to save money quickly, this is probably the easiest money you’ll earn!
RELATED ARTICLE: 12 EFFORTLESS WAYS FOR YOU TO MAKE MONEY WHILE SHOPPING
3. Cut back on your coffees
Around here, we believe in becoming rich AND still drinking coffee.
But it’s true that saving $5 a day (at least!) by not making a regular morning trip to Starbucks can save you a lot of money.
Especially if you’re trying to figure out how to save money quickly!
In fact, given there are 261 working days this year, not buying a coffee every day of the work week can save you $1,305.
And it can certainly go a long way to you saving $11 each day.
Of course, the occasional coffee won’t drive you into poverty. But maybe save it for once a week when you meet your friends for a catch-up on Saturday.
And for your daily needs, switch to the office machine. Your wallet will thank you.
4. Cut your subscriptions (using a free robot!)
Do you ever get the sneaking suspicion that you’re paying too much for your internet or cable or that perhaps your car insurance is overpriced?
If so, you may want to look into Trim.
It’s an amazing app that I recently discovered which looks at your recurring subscriptions and finds out just how you can cut back on spending.
For example, it can negotiate your internet and cable bills, find you better car insurance and more – all automatically.
Better yet, it’s totally free to try – although they will take a fee from any money that they save you.
On average, it saves users $10 per month on their bills. So no need to worry about how to save $1,000 in 3 months, as that’s (almost) three days taken care of!
To see if you can use Trim to save some money or to give it a try, check out this page.
5. Cancel your gym membership
Now, you may have read that and thought “but if I don’t pay, I won’t go!”
But do you actually go?
Just take a look at the following figures (source):
- The average monthly cost of a gym membership is $58, equating to $696 per year.
- The average amount of each gym membership that goes to waste due to underutilisation is $39 per month or $468 annually.
- The percentage of people with gym memberships that never use them is 67%.
If you’re spending the average of $39 per month on your gym membership and not going, that’s $120 of your “how to save $1,000 in 3 months” journey that’s going begging.
Especially when there are so many ways to get fit for free.
So you should seriously consider cancelling your gym membership if you’re trying to save money. When there are so many other ways to work on your health, why not work on your financial health at the same time!
MORE INFORMATION: 5 WAYS TO SMASH YOUR FITNESS GOALS – FOR FREE!
6. Save your fives
Money saving challenges can be great for helping you to see how to save money quickly.
And in the case of this one, it works best if you tend to pay for things with cash rather than card.
It’s simple: every time you get a $5 note, such as when you’re given change, you save it.
Keep it in a jar or in a box at the back of your cupboard – it doesn’t matter. Just don’t spend it.
While you won’t get anywhere near those amounts in three months, this is a super simple way to be just under your daily quota whenever you spend any cash.
RELATED ARTICLE: 27 WAYS TO TRICK YOURSELF TO SAVE MONEY
7. Get a better deal on your cell phone subscription
Are you one of the almost half of all cell phone users in the US who spend $100 per month or more on their phones? Or maybe you’re part of the 13% of cell phone users who pay at least $200 per month (source).
That’s between $1,200 to $2,400 per year on your phone.
It’s all well and good to cut coupons to save $0.20 on washing detergent or to buy a generic brand of milk to save $0.40 per liter when trying to see how to save $1,000 in 3 months.
But the real way to truly see how to save money quickly is to look at your major expenses and see how they can be massively reduced, if not eliminated.
One of the main issues with cell phones is that most of us are paying for way more than we actually use.
That’s why I recommend Republic Wireless.
They start at $15 per month for unlimited talk and text and then $5 per month for each GB of 4G data you use.
You can even change the amount of data each month you pay for depending on your usage. For example, you could set it up to only pay for 1GB per month, meaning that you’d only pay a monthly rate of only $20.
However, if you find that you’ve run out in the middle of a month, you can easily pay for an extra 1GB and then drop back to the usual amount next month.
Even if you need 3GB per month so you pay $30, this is still $70 of savings compared to what the vast majority of cell phone users pay.
And with that very straightforward change, you’ve just gotten six and a bit days of savings for each month on your way to figuring out how to save $1,000 in 3 months!
Check out their site to see which deal best suits your circumstances.
FIND OUT MORE: HOW TO EASILY SAVE MONEY ON YOUR CELL PHONE
8. Make more money
All of these tricks are about saving money through making some fairly minor changes to your daily habits.
But, of course, another way for how to save money quickly, even if it’s “only” saving $11 per day, is to increase your earnings by that much rather than saving it from your existing earnings.
(Or…¿por qué no los dos?)
And now that I’ve figured out how to save $1,000 in 3 months?
Do. Not. Spend It.
(Unless you’re saving it for something specific, of course.)
Put it towards your debt or into a savings account. Just don’t keep it anywhere where you think you’ll be tempted to blow it.
So if you’ve successfully met your goal of figuring out how to save $1,000 in 3 months – firstly, nice job!
Secondly, consider putting it into a high interest savings account so that you can keep making money from it through epic amounts of interest.
Better yet, it has no fees, so all your money is going towards earning you more money!
So if you’re looking for somewhere to just park your money there and let it grow, find out more information here.
What tips and tricks do you have for how to save money quickly, even if it’s just saving a bit of cash every day? And do you think you’ve figured out how to save $1,000 in 3 months?