So you want to save $1,000 in 6 weeks. Think it’s impossible? Think again!
When one of the listeners from my Millennial Money iTunes podcast contacted me to help her meet this goal, I was so excited to get a plan in place to not only hit the goal but beat the goal.
In this podcast, I discuss how she did it, and how you can as well. With just 6 simple steps in under 6 weeks, she was able to save over $1,075 and the challenge hadn’t even ended yet. She was confident she could save another $150ish before the 6 weeks was up.
Check out the podcast episode below
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She’s probably a lot like you. She’s got a good job and makes what she calls “decent money.” She likes to eat out with friends, go to the movies, go on vacations and enjoy life. For whatever reason, month after month she feels like she is living paycheck to paycheck, even though she makes a good salary. She couldn’t figure out why this was happening, but more importantly how to stop it from happening. Her mission became one thing, and one thing only – figuring out ways to save money every month while still doing the things she loved to do.
Everyone always thinks that saving money is too hard to accomplish. I get it. It takes discipline and effort to carve out savings each month and to stick to it. Just like anything in life, if you want to achieve a goal you’ve gotta put some hard work and sweat into the effort.
You’ve got to become like a person on a mission – think about how you find ways to afford that killer concert you want to go to, or that new restaurant you want to try or the weekend away to escape life. You always find ways to squeeze money out of your budget to afford all the things in life that are really important to you. Saving money should be on top of that list!
You pay everyone during the month, so now it’s time to start paying yourself first. Afterall, you are the CEO of you. Only you determine your own financial future, and charting the course in the right direction when you are young will keep you ahead of the game for your entire life. Pretty cool, huh?
Here is a sneak preview of some of the tips we used to hit $1,000:
- Mastering the 2-column budget and creating an excess plan for the amount left over each month. Our goal was to zero out her budget.
- Create a bill challenge where she saved every $5 that she came in contact with during the six weeks. She loved it so much that she is going to a $10 bill challenge next month.
- She slashed and saved with her eating out budget. By creating budget friendly menus, shopping lists and a strategy for eating out, she was able to cut down her eating out budget by 50%…and she was actually happy about that.
Check out the podcast above for all the goodies, and don’t forget to subscribe to the Millennial Money podcast in iTunes so you can get all the episodes.
Did you hit your savings goal? If so, I’d love for you to tell me about it in the comment box below.
Shannah Compton Game is a Money Wellness expert, host of the to-rated Millennial Money podcast, and CERTIFIED FINANCIAL PLANNER with an MBA. Millennial Money has over 15 million downloads in 164 countries. Shannah’s years of experience as a skilled Certified Financial Planner have set her on a mission to revolutionize how people think, act, and feel about their finances…and have some fun doing so.