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Saving a good chunk of money each month is no easy feat. More often than not, we all get caught up in spending more than we think about saving.
That can easily be remedied simply by adjusting your mindset and choosing to become a saver versus a mega spender. Even if you aren’t a major spender, you can still benefit from saving more.
More money in your savings account will help you tackle any emergencies that may arise down the line or just give you a boost in confidence knowing that you have extra cash that you can choose to spend or not spend.
This list of 24 tips will help you save at least $1,000 a month. Do this for a whole year and you’ll have better financial security and more opportunities to pursue your passions.
To help you save even more money, you should download and use several grocery store apps. These apps are designed to either give you cashback on the items you buy or points for every receipt scanned.
To get started here are a few of my favorites:
- Ibotta ($10 bonus when you redeem your first offer)
- Shopkick (many ways to earn rewards)
- Trunow ($2 sign-up bonus with promo TOF19 and scan your first receipt)
- Fetch Rewards ($1.50 bonus with promo HH3MN)
- Makeena (lots of offers on healthy and organic offers)
Extra money is greatly appreciated no matter what form it takes and taking surveys is an easy way to make extra money that you can put toward your savings goal. Here are few of my top choices:
- Survey Junkie – One of the best survey sites out there.
- SwagBucks – $5 registration bonus.
- Pinecone Research – Earn a minimum of 300 points per survey, which is equal to $3 and cash out any time.
- Ipsos – There isn’t a registration bonus, but ever 100 points is the equivalent of $1 and you can cash out with as little as 500 points.
- Zap Surveys – Download the app and get a guaranteed $6 on your first survey. Once you reach $25, you can cash out via PayPal.
- MyPoints – $10 registration bonus and tons of ways to earn points.
3. Set A Goal
The first step in saving $1000 in a month is simply making a game plan to actively work to save money and meet that goal. $1,000 isn’t a low figure and for many, saving such a large amount can be a challenge.
By getting into the right frame of mind, following the rest of the listed tips will be easier. And at the end of the month, you’ll get to pat yourself on the back for having set a goal and completing it.
4. Start Cutting Back
It’s a well known fact that you can’t start saving money if you don’t start making some changes in your life and one of those changes has to be cutting back. This will vary from person to person.
Cutting back means you’ll have to decline some of those invitations out for drinks or dinner. It may mean not buying everything organic for a whole month, or it may even mean taking a bus or train just to save a little on gas.
By following tip 2 and getting a budget together, you’ll be able to find exactly where you can start to cut back. You may discover that cutting back helps you save anywhere from $50 – $200 in a month.
Bonus Tip: If you’re a movie and TV show lover, you can put a hold on your Netflix and Hulu accounts for a few months and opt to borrow television shows and movies from your local library for FREE.
Some of us may need a little help in order to start savings. If you don’t want to stress about the thought of saving, than there are several apps available that help you do just that and take the pressure off your shoulders.
- Digit – Digit works by analyzing your spending and automatically saving money for you daily.
- Trim – Trim is a great app that can work to help lower your bills (by negotiating prices for you), give you text alerts when you’re overspending, and even offer cash back bonuses.
- Mint – Mint connects with your bank and monitors your transactions. The app will shape a budget for you, so you can see how much you are spending and where (great for those who don’t want to bother with creating a spreadsheet).
Easier said than done right? But establishing this month as a no spend month is a sure-fire way to save extra money and quickly.
The rules are simple: don’t spend any extra money. All your money spent is to go toward the necessities only, that includes rent, food (groceries, not eating out), toiletries, bills (phone, cable, etc), and fuel. Everything else is to be considered extra and not necessary.
Fair warning, this challenge can be fun to do but also really hard. Not all of us have the ability to always say no, especially when we want something right now, but if you can stick with the rules, you’ll thank yourself at the end of the month and maybe try the challenge for another month or two.
If your day job doesn’t quite cut it when it comes to giving you enough money to set aside to save, then it may be time to start thinking about a side hustle.
A side hustle is basically a second job, but it doesn’t have to be one that’s full time or even part time. A lot of side hustles can be jobs that are just one project or something you do only when you have the extra time.
Some great side hustles are:
- Driving for Uber or Lyft: You can make up to $18 an hour by working prime times and choose to set aside all your earnings toward your save $1K goal.
- Working as a Sitter: Pet sit, Babysit or Homesit.
- Working as a Tasker, Thumbtack Pro or Gigwalker
8. Water Only Please
This tip won’t give you a lot of savings, but every little bit counts. Even though you’ll be cutting back this month (hopefully), if you do happen to have a night out, skip ordering a beverage and go with water.
Water is free of charge. It’s not as fun as drinking a coke or even a cocktail, but just remember you are trying to save money.
If you really want to feel like you’re drinking something a bit more special, you can always ask for a club soda (not sparkling water as they’ll charge you for that bottle of Pellegrino) with lime.
Okay, I won’t ask you to totally give up on coffee, as you’ll probably need the extra caffeine just to make it through a month of mega saving. But I will ask you to skip going to Starbucks, Peets Coffee or even the gas station if that’s where you normally snag a cup of your morning brew.
By making a plain ol’ cup of Joe at home, you’ll end up saving anywhere from $40-$80 a month. It won’t be as good as a Pumpkin Spice Latte, but the savings will be delicious.
10. Pack Your Lunch
Since we’re giving up our Starbucks this month, we might as well give up on eating out too. You may be surprised to find out just how much you spend eating out for lunch (especially after you make your budget).
Most people will spend anywhere from $5 – $10 for their lunch, when instead you can stretch that $10 and make several lunches of simple sandwiches and chips.
Packing your lunch will help you eat healthier and save money in the long run. Doing this for a whole month could save you $100- $200 this month.
11. Meal Plan
Packing your lunch for a week is the perfect way to get into the habit of meal planning. By meal planning, you’ll be able to approach the grocery store with a premeditated list of everything you’ll need for the week to cover you for breakfast, lunch, dinner and snacks.
I meal plan every Sunday and make sure I have enough meals to make it to the next grocery store haul. To save on time, I also tend to shop with the intention that some of the meals will be eaten as leftovers. That will save you more money than trying to make something new each day.
As you get your list together, make sure to grab any coupons that you can use for the week. Becoming affiliated with your local grocery stores and their apps will help you stay on top of weekly sales and receive coupons in the mail.
12. Make A Budget
Before you can start setting aside money to save, you need to be aware of where your money is going. The best way to do this is to start a spreadsheet.
Before you groan about the thought of using Excel, know that it can be a really helpful tool to track your monthly spending. While we all receive monthly bank statements, how many of us actually take the time to look through them?
By making a spreadsheet yourself, you’ll actively be monitoring your spending as it’s happening. Your mind will be blown when you really see how much you spend each month.
You can use this site to find a template, so you only need to worry about plugging in your information and making any additions that you may need.
13. Shop Simply
We’ve already established that buying your own groceries and making meals at home can save you money, but you can save even more by keeping the meals simple.
I’m not saying to live off of only ramen for a month, but to keep your shopping simple and easy and your meals pretty basic. Choose a protein or two that you like and load up on veggies and a few starches. You can even skip the meat to save a little more at the register.
Some simple meal ideas are spaghetti and a side salad, tuna casserole, meatloaf and mashed potatoes, or grilled cheese and tomato soup. That’s enough food to feed a family of four dinner for a week and will cost you less than $50.
14. Cancel Memberships/Subscriptions
I’ve been guilty of getting a gym membership and never going to workout, but justified keeping the account open as my motivation to start going. If this sounds like you, then you should just go ahead and cancel your membership now and start saving that extra $25-$50 a month.
While you’re canceling that gym membership, you should go ahead and cancel splurges like your Pandora, Spotify, or SiriusXM subscriptions, along with any magazine or gaming subscriptions you have.
You may find that you won’t even miss these things once they are gone.
15. Cut Down Your Cable and Internet Rates
There’s no harm and calling up your cable or internet company and renegotiating your contract. At the beginning of each year, I found myself getting a new internet bill with an increased monthly charge.
I would call and argue this back down to my original payment every time and rarely had to argue very hard. Most cable and internet companies don’t want to lose customers, so most of the time they’ll be willing to work out a deal for you, even if it just means offering you lower rates for six months.
After six months, when they start to try and charge you extra, just negotiate your way back to the same offer as before. For me, this has led to an extra $20 saved every month and could mean more or less for you.
16. Compare Cell Phone Rates
With the above tip in mind, similarly, you can shop around for better cell phone rates and plans. Like cable and internet companies, most cell phone companies want to keep their existing customers happy.
Usually the best way to get the better rates you’re after is to call the company directly and speak with a live person. While most websites can walk you through signing up for a new plan, speaking with a customer service rep will give you more of a discount on your plan.
If you’ve looked over your plan and realized you could be paying less either with another phone company or even a different plan, consider making the switch. Sometimes family plans are the best way to go, and you don’t need to use actual family members to get a plan started (so start talking to your friends).
Insurance rates are another thing to shop around for to figure out if you could get a better, cheaper plan somewhere.
Some of us set up insurance coverage and forget about it, but it’s a good idea to start getting into the habit of checking your insurance company’s website regularly for discounts, or even better, call them up and see what discounts are available.
Ask them about deductible changes you can make to save more money, or employer discounts that may be offered, or even something as simple as low mileage discounts. It doesn’t hurt to ask and they shouldn’t hesitate to answer your questions.
Remember, they want to keep your business and keep you happy, and if that means more savings for you than that is what we call a win-win.
18. Adjust the Thermostat
Personally, I was surprised by how much more we saved my simply tweaking our thermostat in the summer and winter. It was annoying at first but eventually I got used to it and the extra money saved made being a little too hot or too cold worth it.
To save more, adjust the temperature to something a little higher in the summer and something a little lower in the winter. This means the air conditioning and heat will kick on less often. The less it runs, the less energy you are wasting and therefore the less money you are spending.
19. Take Quick Showers
This was a really hard habit for me to break and is still something I struggle with, but if you can master the art of the quick shower, then your energy and water bill will thank you.
By quick, I mean you get in there, do what you need to do and get out…don’t just stand there basking in the hot water (okay, maybe only I do this). While you’re keeping your shower quick, keep the temperature lukewarm while you are at it.
The hotter the water, the more energy you’re using so if you can stand a lukewarm shower in the winter and an even cooler shower in the summer, you’ll reap a lot of skin (i.e. you’re skin will be less dry) and monetary benefits.
A simple and easy tip that will help you save more on your electric bill is to just unplug all the items you’re not using. You may not think it is costing you anything just to have something plugged in but not in use, but you are getting charged for that plug in.
Remedy this by unplugging all the items you are not actively using. This could be computers, lamps, coffee pots, toasters and more. Waste the energy for when you’re actually using the item.
This tip is probably geared more toward people who own larger homes, but apartment dwellers can benefit from downsizing too.
There are several ways to downsize to save more money. One is to go from a larger house to something smaller, if you can fit you and your family comfortably. For apartment dwellers, you can opt to go from a one bedroom to a studio loft.
By downsizing, you’ll not only benefit from a smaller space and thus, less stuff, but you’ll also spend less in utilities as well.
22. Sell Your Stuff
After downsizing, you should be left with several items and things that don’t fit into your newer, smaller space. That’s when you can turn to sites like eBay, Craigslist, and Decluttr to try and sell them to make a profit.
You can make quite a bit of money selling anything from old couches, entertainment centers, dining tables, books, movies, and even clothes. You’ll get to breathe easier with less stuff and enjoy a decent amount of cash to boost your savings.
23. Set-Up Automatic Deposits Into Your Savings Account
With every job I’ve taken, I always made a point to set aside an allotted amount to be directly deposited into my savings account. Most jobs will let you do this when you fill out your direct deposit form.
You don’t have to do anything dramatic like a 50/50 split into your checking and savings accounts, but choose a number you are comfortable with that won’t later leave you dipping into your savings just to help pay your monthly bills.
Personally, I always started small with something like $100 per paycheck and would change it later if I knew I could save more comfortably. This one step could easily give you an extra $200 saved monthly (assuming you are paid biweekly).
You don’t have to ditch your friends or family in order to save money, but sometimes you have no other choice, especially if they are not concerned with saving money and constantly want to do activities that cost.
In an effort to spend less money, point your friends and family in the direction of free events or activities taking place in your area. You can check your local newspaper, libraries, or city website to find out what’s happening.
You can also suggest free activities, like a game of baseball or soccer at the park, or a hike through the woods, or even an evening of board games at your place. You’ll get to enjoy spending time with the people you love and appreciate the extra cash you’ll get to hold on to in the process.
And when your friends or family do suggest something that’s going to cost you money, it is okay to let them know you are trying to save and politely decline.
For even more money saving tips, check out this article or this article. This website is here to help you meet your financial goals and I hope one of the tips on this list helps you save $1K quickly and easily.
If you do try any of these tips, let me know in the comments below. I’d love to hear your success stories! Thanks for reading and happy frugaling!