How To Save $10,000 In A Year

You’ve got a lofty goal in your sights…save $10000 in a year. Maybe you are saving up for a down payment on a house.

As a general rule, you can save $10,000 in a year by saving $27.40 a day, $192.30 a week, $384.62 every two weeks, or $833.33 a month. It will take discipline, cutting back, and increasing income to make this happen.

How Much Do I Need To Put Away To Save $10,000 In A Year? Instead of looking at the giant amount of $10,000, you should divide it into smaller savings goals according to the calendar or your payday. Then you won’t be facing a five figure number, you’ll have much more manageable amounts to aim for.

Ways To Save $10,000

Remember that you most likely won’t meet your smaller savings goals with just one change…plan on using several of these strategies to save your daily/weekly/monthly amount.

Go over your budget with a fine-toothed comb and start cutting expenses. Look for categories that you can tighten up or even eliminate. If you are trying to save $384.62 every two-week pay period, what expenses can be reduced to help you towards that goal?about your financial goals. This will help you stay motivated and on track.

Reduce expenses to free up money in your budget

Add Income To Meet Your $10,000 Savings Goal

If there isn’t much room in your budget for reducing expenses, adding income is an excellent way to accomplish your goal quickly! Here are some ideas for you.

Work extra shifts/overtime at your current job

Make it known to your employer that you are available for any special projects or overtime. Tell other employees that you are free to pick up shifts if they need it and earn extra money where you are.

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