How To Save 10k in 6 Months

How To Save 10k in 6 Months

Saving money can be a daunting process. This is especially true given that most Americans are living paycheck to paycheck. In fact, most Americans do not have an emergency fund, or any kind of backup financial money or plans in case of emergency. Living this way isn’t only dangerous, it can be incredibly stressful, especially if something unexpected happens and you need extra money to fix an issue. However, if you’re looking to learn how to save money, and have a pretty hefty safety fund and savings, keep reading for excellent tips and tricks.While the amount of money that you save definitely depends on how much you work, this goal can usually be achieved if you are working a full time job with minimum wage in the United States. That’s the basis for this article, anyway. These tips, however, should work for anyone, but you may have to adjust how much you want to save before you can feasibly move forward.

First and foremost, what any person wanting to save money should do is to begin tracking and constructing a budget. This is a very important step, but it can be difficult and not worth it if you do it wrong. What you must do when you’re making a budget is track every single cent that you spend. While you can definitely write this down, having a combination of a journal and app is usually a much easier way to go. There are apps out on most Androids and iPhones that let you connect it to your bank account. If you, like most people in the modern age right now, keep the  majority of your money in a bank account and spend using your card, this will be SUPER easy for you to track all your expenses. Once you’re tracking all of your spending for a month, it’s time to break it down. See where you’re spending and overspending your money and make sure that you make a budget for each grouping of items so that you can make the right decisions. If you want to save a ton of money, it’s important that you’re incredibly strict with your budget so that you can get the work done more easily.

Secondly, after you’ve created the budget and know how much you need to make every paycheck and how much you need to save, you should think of other ways that you can save money. When people track their spending for the first time, they’re generally pretty surprised at the amount of money they spend on things like food. Instead of eating out, which can end up costing you hundreds of dollars a month, opt for meal prepping. Meal preparation is something that you do at the beginning of the week and plan out your meals and make them and then freeze for later use. This is especially useful if you find yourself too busy or drained to cook every meal every deal, which is entirely possible given how busy many people are these days. You should also think of your clothing and what it means to you. Instead of constantly shopping, get good quality clothing that will last from West Marine, and make better decisions for your future.

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