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.
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.