Kate Crowhurst
Bite-Size Read:
- Life happens and there are many times in life where you might need cash fast.
- Our Top 20 ways to save $1000 fast include cutting your supermarket bill, automating your budget, and looking for a better deal on your power bills.
- The time it takes for you to save $1000 will be variable but remember, you can do this.
Life happens and you never know what emergencies will happen in the future.
For that reason, you may wish to have access to cash quickly to manage any situation. It could be problems like a broken-down car, an unforeseen debt, or a broken washing machine that need cash to fix quickly. You could also want to get ahead of large expenses like Christmas gifts.
Being able to save $1,000 now means that you have cash to fund your choices later.
It can be difficult to save money if you’re more of a spender than a saver. The time it takes you to save $1,000 will also be variable, including based on how much you earn. There are multiple ways to save $1,000 so it’s worth looking at what ways work best for you.
Here’s our Top 20 ways to save $1000 fast:
1. Adopt a 24-hour rule on spending decisions
If you feel tempted to spend money on items you don’t need, wait 24 hours. Only go back to buy it if you still want it 24 hours later.
2. Try a no-spend month to control your spending
Taking a month to spend only on essentials like your rent to reset your financial habits.
3. Subscribe to supportive and unsubscribe from tempting mailing lists
Subscribe to mailing lists that will help you develop strong financial habits. And unsubscribe from alerts that will tempt you to spend money when you’re trying to save it.
4. Let go of your unused gym membership
If you haven’t used your gym membership, let it go. You could get a refund on the time remaining on your membership or sell it to someone else.
5. Believe you can save money
If you feel like you can’t save money, you’ll achieve that aim. What you tell yourself is important and you can save money to be able to support future you.
6. Surround yourself with like-minded people
You’re the average of the 5 people you spend the most time with. Surround yourself with people who will help you save money.
7. Set a timeline for your goal
Put together a deadline to save $1000 and identify the steps that will help you get there in time.
8. Consider the life energy you exchange when you buy something
Time at work is trading our life for money and buying things gives away that energy. Consider what is really worth buying based on this.
9. Envelope budgeting can help control your cash
If you’re feeling like you’re constantly spending money, use cash. Using physical money, with different envelopes for each budget spending category can help reset your spending habits.
10. Switch your bank accounts for a better deal
Look at other bank accounts and see if you could save on fees or get better interest rates elsewhere.
11. Automate your savings within a budget
Work out how much you can afford to save and set up an automatic transfer for that amount each month.
12. A side hustle can provide extra income
Work on how much time you have and start a side hustle that makes the most of your skills.
13. Declutter and sell what you don’t need
Go through your house and sort through what you do and don’t need. Sell the items you don’t need on second-hand selling websites.
14. Marie Kondo your wardrobe
We wear 20% of our closets 80% of the time. Take inspiration from Marie Kondo and sort through your wardrobe, selling clothes that don’t spark joy
15. Ask for a raise if you can show your value
Rather than asking your boss for a raise for doing your job, be prepared to show how you’ve added value.
16. Check your ongoing paid subscriptions
Go through your bank statements and check the regular amounts being paid each month. Keep the subscriptions you get value from and cancel the rest.
17. Negotiate your power bills
Compare your bills with other providers and consider switching to a better deal to save money on your power bills.
18. Break up with takeaway apps
Delete takeaway apps off your phone and buy ingredients to cook with so you have no excuses.
19. Save money on your grocery bills
One of our biggest expenses is food so saving money on your grocery bills adds up.
20. Review your phone plan
Taking 15 minutes to see if you could get a better deal on your phone plan could save you money every single month.
Making the effort to save $1,000 now means you have cash available to fund your future choices.
If you haven’t saved money before, this might be hard at first. The amount of time it takes for you to save up $1,000 will be variable. However, the effort to save money now is worth the financial headaches you will save yourself from in the future.
