How to Effortlessly Save 1,300 Dollars Each Year
If one of your new year’s resolutions is to save money, you’ll love our tips! We’re going to explain how you can effortlessly save at least 1,300 dollars a year. Although this may seem like a small amount, every little helps and it soon adds up!
Moreover, the tips that we’re going to share, are easy to follow and won’t create an imbalance in your finances. This means that it’s so easy to do, you won’t even notice you’re doing it! Ready to get started? Keep reading to find out more.
Save at least 1,300 dollars per year
Although the pandemic changed nearly every household and led families to value their savings and income even more, there’s always room for improvement.
In addition to saving up money, you’ll also save in terms of rationing resources such as water, electricity, and gas. By monitoring your use of these resources more carefully, you’ll notice the difference in your monthly costs. Equally, if you need to upgrade or change your appliances this year, make sure they’re highly energy efficient. Before you buy, always check the energy efficiency label.
Next, we’re going to break down some of the methods you can use to save money. Follow each one and after twelve months, you’ll have an extra 1,300 dollars minimum! Take note and choose the best method to suit your needs and your lifestyle.
The 52-week savings plan
The first thing you need to do involves motivation. Before you begin saving money, set a goal for how you want to use the money. It might be for a trip, a dress, new shoes, or a gift for someone else. By carefully considering how you’ll use the money, you’ll feel more motivated to save.
Now that you have a clear objective, we’ll explain the 52-week savings plan which will enable you to save an incredible 1,378 dollars in one year. This is very simple, and all you need to do is start the first week by saving $1 and increase it by adding one more dollar each week. This is how your savings schedule should look:
- First week: $1.00
- Second week: $2.00
- Third week: $3.00
- Fourth week: $4.00
- Fifth week: $5.00
- Sixth week: $6.00 and so on…
In conclusion, if you follow this savings plan to the letter, you’ll effortlessly save 1,378 dollars in one year!
The one-cent savings plan
If the 52-week savings plan is too much for you or interferes with your other expenses, here’s a different method that you may want to try. Either way, make sure it’s achievable and remember, you have the final decision on how much you can and want to save.
This method is similar to the one we mentioned before and it involves saving one cent on the first day, two cents on the second day, three cents on the third day, and so on. The saving schedule for each day should look something like this:
- First day: 1 cent
- Second day: 2 cents
- Third day: 3 cents
- Fourth day: 4 cents
- Fifth day: 5 cents
- Sixth day: 6 cents and so on…
Although the first few weeks of doing this won’t bring a huge reward, the idea is that if you continue, you’ll soon see results. If you follow this plan, you’ll save 667.95 dollars in a year.
If you want to save at least 1,300 dollars a year, stick to your plan
Making the decision to save isn’t easy, it requires a lot of willpower and motivation to do it. To ensure you stay on track, keep the following points in mind.
- Start with a clear objective. This will prevent you from giving up and remember your goal in order to keep motivated.
- Avoid unnecessary expenses. These are small daily costs that bleed your wallet and take you away from the goal of saving.
- Prioritize your expenses. Understand exactly where your money is going each week and reduce costs where you can.
Choose one of the methods that we’ve shared with you to save money. Start today!