10 Steps to Saving $1,000 in a Month - Quicken Loans Zing Blog

It’s so easy to get caught up in the paycheck-to-paycheck cycle. And living without an emergency fund is a dangerous way to live. Check out these tips and tricks to save $1,000 (or more) in just a month. Trust us. Your bank account will thank you.  

The Automator

Average savings: $250 – $500

There’s not a get-rich-quick scheme. Force yourself to save. Set up automatic payments at your bank so a portion of your biweekly income goes into savings. Before the month begins, decide how much you want to save … and then automate it.

The Brown Bagger

Average savings: $50 – $200

Start bringing a sack lunch to work, cut out coffee shops and take a hiatus from dinners out on the town. Eating out several times a week adds up. Instead, use this time to learn how to cook and be creative with your date ideas like making a candlelit meal at home.

The Side Hustler

Average savings: $100 – $400

A job on the side is the best opportunity for creating extra income. This may take some humility on your part. Remember, it doesn’t have to be a career. You could sell pizzas on the weekend or be a driver for Uber a few nights after work. This should be a temporary move, but if you want to make $1,000 in a month, you may need to go some extra lengths to get there.

The Brand Defector

Average savings: $50 – $100

You can easily save 50-60% if you’re just buying generic products at the grocery store. Don’t let your love for labels get in the way of some serious savings. You should also consider checking out stores like Aldi or other low-cost supermarkets, which offer better prices on most staples. After each trip to the grocery store, make sure that you tally your savings and then put them in the bank.

The Subscription Killer

Average savings: $50 – $150

Make a list of all of your subscriptions. Most of these – if not all – aren’t necessary expenses. Do you actually need all of those online streaming services? Or how about magazines? Can you do without them for a month? If you need a dose of entertainment, go grab a book at your local library.

Pro Tip

The best way to make your savings goals a reality is to start a budget. You can make a plan, hold yourself accountable and track your progress. You can set up an online budget for free at Mint or Acorns.

The Savvy Seller

Average savings: $25 – $50

Make money and clean your house at the same time! Raid your attic, purge your closet — find and sell all the junk that you’re no longer using. Once you’ve done that, start selling it. Craigslist and eBay can be excellent ways to make quick income. If you’re looking for a place to start, begin with your clothes. Many people pounce at the opportunity for lightly worn clothes.

The Fee Dodger

Average savings: $50 – $150

Make sure you’re paying off your credit cards every month. Credit cards have incredibly high interest, so make a plan to get them all to zero by the end of the month. You should also check out fee-free investment options, like the app Robinhood, which will save you boatloads if you’re investing money in the stock market.

The Membership Destroyer

Average savings: $20-$100

How often do you actually use your gym membership? If you’re only going once or twice a week, it may make more sense to cancel your membership and work out at home. There are plenty of free ways to get your sweat on, especially if you’re just pausing your membership for a month.

The Cell Phone Slasher

Average savings: $25 – $50

There’s a good chance you’re overpaying on your cell phone bill. Check out family plan options, even if your family won’t be on it. They’re usually significantly cheaper. And if you’re not using all of your data each month, switch to a cheaper plan.

Do you have tips to help other save money? Share them in the comment section!

 

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This Post Has 52 Comments

  1. I saved a fortune going on line & learning how to make child & pet friendly, weed & insect killer & deterrents, insect & rodent(mice,snake) etc also safe , out of products that most use to cook with.Laundry also.

  2. I have a suggestion.
    Save 1/3rd of the income that one is getting and spend from the rest.
    This will be a a huge saving.

  3. while at a retail store check there website if it is cheaper online the stores will give it to you for that price unless it is an online only sale

  4. It pays to revisit Insurance policy rate changes (age, 7 years after incident, etc.) and other carriers. I receive the same insurance coverage on house and cars for $150 less per month through the same company, and go direct to Liberty Mutual from a SAFECO agency(underwrites Liberty) .

  5. I had the local cable company’s “triple-play” for years. I finally got tired of the ever increasing bill, so after investigating different streaming options, I dumped the tv portion (kept the internet & landline).

    For the broadcast channels I got a flat wave antennae. It gets pretty good reception. Since I’m still a big tv freak I got the Amazon Fire TV ($99 one-time purchase). For my cable channels I went with SlingTV service. They have 2 monthly tiers ($20 or $25) and you can add a dvr feature for $5 more per month. There’s always something on for me to watch.

    A lot of the premium services offer free trials. Most are only 7 days, but a few let you in for an entire month. I’ve done a couple of these and browsed around, watching all sorts of stuff. The key is to remember when to cancel the service, so it doesn’t automatically renew.

    Doing this has helped me immensely.

  6. I budget every store & shopping trip. We only eat out one time last 6 months and only for special occasions. We bar b que, every Sunday & prepare our meats ahead of time for the week. Put in freezer bags for the week & use as needed. We save money & calories. Also we purchase groceries on sale only & usually have a coupon. Yes, my hubby likes the TV cable on in the winter, fall & spring. We suspend our service in the summer while they run reruns. Our box we can use for save programs. We can do this once a year up to 4 months. Check with your provider.

    1. If you’re someone that sips data, this might work really well for you. You just have to be careful not to end up with any overages.

  7. Think twice about those fancy cellphones and check out companies like Tracfone online. Maybe even purchase a refurbished cellphone and a prepaid card, you be surprise how much smartphone you can purchase for just under fifty dollars. Do you really need that two hundred dollar phone, and the insurance plan, think twice and don’t get locked in. Good luck and God Bless.

    1. This is a good tip. Also, $200 would be on the cheap end for a new smart phone unfortunately. If you haven’t checked recently, you’d be surprised. Most people can probably go without the insurance plan at the very least. You just have to make sure not to drop thing in the toilet or something. Thanks for sharing!

    2. I’ve used Tracfone for many years now. Every year or two I go to HSN.com and order a new Tracphone with built-in triple minutes and one year service for under what I would pay for a triple-minute card and year service. The card costs about $107.00 yearly right now, I can get a new phone with the service for usually under $100.00. Right now I have an LG android phone (large) with all capabilities. A very nice phone and plan. In the event I wish to keep the phone when my year is up, all I do is pay for the year service, minutes card OR if my phone battery is not keeping a charge as long, I then purchase a new, updated phone with built-in minutes, service time and with car charger, phone holder and bluetooth if applicable to the one I’m purchasing. As I said, this is usually below the cost of the card alone. Also note that Tracfone rolls over any minutes you have left. If you run out of the initial minutes, you can purchase more at any time with ease, either through a card which can be purchased at most stores or through Tracfone directly. The initial minutes tripled you get with your phone purchase is 1200 in most cases. This also includes texting and data. Mine is the LG Premier LTE Android Smartphone with 5.3″ touchscreen, 8 MP Camera/5MP front facing camera and WiFi capable and many other features. Remember, there are no contracts or bills, no credit checks, no credit required to activate, no activation or cancellation fees and you call nationally and internationally at local rates. Also, there are no roaming charges. I do not use my phone for business, so this is win win for me and I believe it would be for most people paying monthly fees. A great bargain and money saver!! Note, Tracfone does have monthly plans for those who used their phone a lot, but it’s quite a bit less costly than other plans. Tracfone also uses Verizon in my area and I imagine many other areas. You can purchase other name brand phones through Tracfone service.

    1. Hi Maurice:

      You’ve come to the right place. If you’d like to go over your options online, you can get a preapproval through Rocket Mortgage. Otherwise, one of our Home Loan Experts would be happy to take your call at (888) 980-6716.

      Thanks,
      Kevin Graham

  8. one of the best ways to help you save is through the cost of television. If someone could tell people how to get out of those 2 year commitments that everyone gets locked into with some of the television companies and cell phone companies, that would be information that could help people start the road to saving.

    1. To get out of your two year cell phone agreement do not upgrade your phone and don’t buy a phone on the monthly installments. Buy your own compatible phone, bring it to the counter and you can do month to month billing as long as you are out of the cycle. I’ve been a month to month Vz for about 5 years. Yeah my phone isn’t the latest and greatest, but it works,I paid cash for it and I can leave Vz whenever I want..

      1. This is a great tip. It would also be hard for me to follow. I like the latest and greatest, but if I worked at it, I could do it.

    2. When you cable contract comes up for renewal, and they want to increase your bill, call them and tell them you are going to change companies. When they hear that, they not only don’t increase your monthly bill, but you can negotiate with them to actually LOWER it. Same thing with cell phones- never let them automatically renew and raise your rates. Also, set that central air conditioner at 2 degrees higher than you normally have it. I guarantee you won’t notice the difference, and your electric bill will be $50 a month less. I live in the Tampa area, and that’s what I’m saving! And stop running the water when you brush your teeth!

  9. Always ask sales reps if they have any coupons when you check out. I’ve saved a lot of money by just asking.

  10. Track every expense to the penny – set up a budget by type of expenses that you have then compare to you plan how much you are spending – then look for ways to save money from what you are spending. it is not how much you make but how much you save! Good luck.

  11. A lot of times we buy things, especially on-line, that are just on impulse and by the end of the week they are at the back of our closets. Wait a day before you click “add to cart” and see if you still like it as much as you did yesterday. Also realize that there is a difference between need and want.

  12. Get the apps! Add your favorite store apps on your phone and use the on site without having to print, clip and save paper coupons.

  13. Two years ago I purchased an inside flat tv antenna which hangs on my wall. With that antenna I receive all of my network programming and few other channels absolutely free. The reception is in clear HD quality. No one would have any idea that my service wasn’t being provided through Cable or satellite. I also purchased a DVR so I can still record, pause and rewind live TV. I purchased mine through Channel Master and I couldn’t be happier. I also am an Amazon Prime member and one if the perks is being able to stream tv and movies. I’m paying for Prime anyway so this is at no additional cost. People pay upwards of $100 per month for TV. That is $1200 per year and $12000 over ten years. It feels really good not to have that bill every month and still have everything that service providers charge so dearly for.

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