30-Day Savings Challenge: How to Bump Up Your Balance In One Month

Goals are always easier with a deadline. Making an open-ended promise to save money is hard to complete if you don’t set guidelines. So if you’re serious about stashing more cash, state exactly how much you want to save by a specific date. We believe that one month is a good place to start. It’s relatively soon, and depending on the amount you want to save, entirely attainable.

Ready to save? Now that you have a deadline, here are four tips to help you achieve your 30-day challenge:

Stop Buying Coffee Every Day

This is a simple but effective way to cut costs, and it has an easy alternative: make coffee at home instead. It may take you a day or two to get used to your new routine, but the results are worth it, especially if you spend up to five dollars per day on fancy caffeinated drinks.

Make Your Lunch

Buying lunch every day adds up over time. $10 per day may not seem like much on its own, but $200 per month (for a five-day work week) will definitely help you achieve your savings goal. If you’re addicted to eating out and can’t go cold turkey, treat yourself to an inexpensive meal on the weekend.

Cut the Cable Chord

Reportedly, the average American’s cable bill is over $100 per month. It’s a surprising figure given our affordable alternatives to content. These days you can find most shows and movies online for free or for a small fee. And you’re not limited to watching them on your computer or phone. Inexpensive accessories such as Google Chromecast make streaming straight to your television fairly simple.

Ride Your Bike/Take Public Transportation

When it comes to cutting monthly costs, gas may be an easy target. If you have a car, taking the bus probably never even crosses your mind, but it’s likely cheaper than filling up your tank. Like to bike? Riding is also an easy way to slash your transportation costs, and it’s great exercise. If you have a longer commute, compromise between convenience and savings, and try one of these alternatives to driving two to three days per week.

For even more ideas on how to save money in a month, check out our guide to costs you can cut today.

BALANCE
March 2018