Who wouldn’t appreciate an extra $100? With things being so uncertain lately, many of us are trying to find ways to save wherever we can. Traditional money-saving strategies don’t always work well during unusual times, like a global pandemic. So let’s see how you can set aside an extra $100 this month.
Saving 10% or 15% of your income might seem impossible if your work hours have been cut or you’re facing other financial challenges. Instead of aiming for big financial goals, try starting small by saving $100 a month. It might not seem like a lot, but an extra $100 could help with unexpected expenses or a surprise day off. Plus, regularly saving $100 can build a good savings habit. Here are five easy tips to help you save $100 this month.
1. USE A MONEY JAR
One easy method is using a money jar, which I use myself and often end up saving more than I expect. Just put your loose change into a jar and cash it in once it’s full. To save even more, add your $1 bills too. For example, by doing this, I managed to save $200 in just three months.
2. SAVE FIRST
Think saving $100 this month is tough? Try taking $100 out of your paycheck and putting it straight into savings. Then, live on the rest of your money for the month. You might find you can get by just fine without that $100.
3. SELL UNUSED ITEMS
Got unused stuff around the house? Sell it online on sites like OfferUp, Craigslist, or Facebook Marketplace. Good photos and honest descriptions will help you sell your items faster. It’s a great way to put aside $100 this month.
4. GO VEGETARIAN FOR A MONTH
Even if you love meat, consider going vegetarian for a month. You’ll probably save at least $100. Focus on in-season produce and frozen veggies to keep costs down, and use inexpensive protein sources like beans and lentils.
5. MAKE HOME-COOKED MEALS
Eating out can be expensive. Replace two dinners out each month with home-cooked meals, like those made in a slow cooker. This can save money and often provide leftovers.
Saving $100 a month might seem hard, especially if money is tight. But by following these simple steps, you can make it happen. Remember, all savings start with the first dollar set aside.
What are your favorite ways to save money? How do you manage to save at least $100 a month?