12 Amazing Tips On How To Save $10,000 This Year

Are you looking for some amazing tips on how to save your first $10,000?

There are plenty of reasons to save, from having an Emergency Fund, to begin Investing, to buying a House, the list goes on and on.

The reason we built this list of tips on how to save is that we are saving to buy a house for our increased family size.

Our hope is that one of these tips helps you save money and if it does to share this article and video with someone else looking to save!

Get a Sign-Up Bonus With The Best Active Checking Account!

WHY SHOULD YOU LOOK FOR WAYS TO SAVE?

A real-life example is March 2020, The Covid-19 virus has swept across the world causing restaurants, bars, small, mid, large businesses to close.

I’ve seen a number of people who never saved and did not have a rainy day fund.

They were left laid off, with unplanned child care as schools closed, and they still have all their normal expenses.

This is still a stressful event for millions of individuals around the world, and that is why starting your saving journey is important.

WHAT CAN YOU DO TO SAVE $10,000?

Life is always going to throw curveballs at you to remind you that you NEED to have extra money.

Nearly three in 10 (28 percent) U.S. adults have no emergency savings, according to Bankrate’s latest Financial Security Index. 

Just think what $1,000 could do for you or your family when an unplanned financial need arises.

Now, why not step it up even further with a goal of $10,000 this year, it may seem like a big number and it can be.

Just think about the security and the mindfulness that it can give you in a financial pinch.

Now let’s get into these tips on how to save your first $10,000.

THE 12 MONEY SAVINGS TIPS ON HOW TO SAVE

#1 STRATEGIC MEAL PLAN

Creating a meal plan of what meals you want to eat is a great way of cutting costs and saving money.

Start by writing down different meals and what you will make each day of the week.

Next, make a list of items needed for those meals and take it with you on your next grocery trip.

By creating a plan and having a list, you will cut down on buying based on cravings and what you think you will eat.

This will always reduce how much food may will spoil, and need to be thrown out.

This tip can help save an extra $100 to 200 per month which can be an additional saving between $1000 to $2000 per year!

#2 DISCONNECT OR CANCEL SERVICES

Look at your monthly statement and see how many different types of services you are paying for.

There are some that you may be able to completely cut out that could save you $100 per month.

In our example, we do not have any Home Phone or Cable, and our only online subscription is Amazon Prime (30 Days Free).

By cutting out a few services you rarely use, alone can save upwards of $100 per month or $1200 per year.

#3 MINIMIZE EATING OUT

Eating out can literally EAT away at money destined to be saved.

We used to eat out at least 1 time per week, grabbing our favorite sushi on the way home which would cost $40 on average.

By using the meal plan method above, this was and can be drastically cut down.

Just do not cut it out 100%, plan 1 dining out session per month, and budget for those unexpected crazy days.

We all have those days or weeks where nothing goes quite as planned, but if you manage to cut down on eating out.

This step could save you over $150 per month, or upwards of $2,000 per year.

#4 STOP BUYING BOTTLED WATER

Bottled water can be quite expensive and depending on the brand could be buying normal tap water disguised in a bottle.

Instead, we purchased reusable containers to track our daily water intake which can keep the water cooled for much longer.

By cutting out bottled water you can reduce the amount of plastic that needs to be recycled, and know where your water is coming from.

Plus, this small change could be savings of 10-$15 per month or upwards of $100-$200 per year.

Click Here To Start Investing With M1 Finance

#5 UNSUBSCRIBE FROM NEWSLETTERS & MAILLISTS

How often do you see “Get up to XX% off your entire cart” in your email?

I used to get these promos at least once every single day by some business or service.

These emails are meant to get your brain to SPEND, and by unsubscribing, you will end up reducing your sporadic buying.

When you get one of these emails, and it is not something that gives you value unsubscribe from the list.

Don’t feel encouraged to spend to save, skip it all, and save that extra $50 per month or $600 per year!

#6 CUT UNHEALTHY HABITS

Do you drink, smoke, or have some unhealthy hobby that is draining your wallet?

One thing we did was completely cut out alcohol.

Take a look at your receipts and see how much you spend on that bottle of wine, beer, smokes, and whatnot.

We saw we were spending between $40-60 per month, which averaged out to be nearly $500 per year!

#7 LOVE YOUR WISHLIST FOR 5 DAYS

Do you love everything that you have purchased or have a regretful purchase?

Common, We have all been there, we bought that shiny item and now it sits dormant in the closet.

This is where the 5-Day wishlist comes in if you’re wanting to purchase something that is not essential.

Add it to your wishlist, and look at it nightly, to see if you still feel the urge after each night.

By the 6th day, if you can say that item will be useful and not be stashed in a dark corner buy it.

This will reduce your impulse purchases and can help save $50-80 per month or nearly $800 per year!

#8 STOP BUYING DISPOSABLE ITEMS

Do you buy disinfecting wipes, mop pads, or face masks (2020) that are disposable?

Disposable means these items have to be purchased over and over endlessly to the end of time.

What we recommend is switching to reusable items of the same type.

We switched to bamboo washable towels and washable mop pads and have been extremely happy with the reusability.

Yes, they might cost a bit more upfront, but they come with multiple uses and are better for the environment.

This change over the course of a year has helped us save $8 per month or $96 per year.

#9 LEARN TO CUT HAIR

Do you go out to get your hair cut?

Lots of us did prior to the pandemic, then barbershops were forced to shut down.

My wife has been cutting my hair since my Army days in the military, which is over 10 years ago.

This can save you $30 per month or $360 per year, per individual, and with a growing family, the savings are better!

Sure, a pair of professional hair clippers can cost anywhere from $40 – $60, but after 2 months you’ve already recouped the expense.

Get a Sign-Up Bonus With The Best Active Checking Account!

#10 LEARN TO USE AN INSTAPOT

Do you own an Instapot or know someone who cannot stop talking about it?

By switching to an Instapot you can get more time back in your day.

By prepping meals you can spend less time being in front of the stove and more time doing what you love.

You can use Instapot to make your standard rice and quinoa, plus make yogurts, chillis, meats, and eggs.

If you have Kindle Unlimited (Free For 2 Months) you can find FREE cookbooks to use too!

By switching to an Instapot you are really buying back your time, and time is limited.

#11 CUT ON THE GO EXPENSES

Is going to a coffee stand or fast food an everyday part of your normal routine?

This can be silent, but a spendy portion of anyone’s expenses.

Take a look at your monthly spending and see how much you spend on avg on these expenses.

You will be surprised that by cutting these areas down you can save over $16 per month or $192 per year if not much more.

#12 USE CLOTH DIAPERS

Do you have or plan to have any babies, or toddlers running around that require diapers?

After we had our first child we quickly found out just how expensive and fast a box of diapers can go.

A great way to save yourself roughly $.20 per disposable diaper based on Amazon results.

Is to buy AT LEAST 12-20 washable reusable baby cloth diapers, these have worked amazing!

During the day our newborn can wear between 3-6 reusable, while at night will only wear 1-2 single-use.

Swapping to reusable diapers can save you upwards of $40 per month, or $480 per year.

CONCLUSION

These tips above when added together can help save a grand total of over $10,000!

When you are working to save $10,000 in a year, there are hundreds of ways to do it.

You may also want to try a combination of ways, let me know what is your favorite way of saving money.

 

Once you have learned how to save $10,000 in a year, you can challenge yourself to save even more the next year.

This will lead you to be able to set and meet financial goals without worrying about unexpected expenses.

Plus you will have the freedom to enjoy your life and not be as stressed and money-tight as you once were.

 

I hope this article has helped you and you’ll try to implement a few of these tips on how to save.

If you have any questions or suggestions, please feel free to let me know in the comment section below.

Thanks For Taking Your Time To Read This,

Remember To Share This Post On Social Media With Your Friends & Family

YouTube – Facebook – Instagram

Thanks For Your Support,
– Investing On The Go