Last Updated on February 26, 2025 by Katie
Whether you need quick cash for a purchase or just want to build up an emergency fund, this article will help you out. Today, we’re going to explore how to save $1,000 in a month, even if you’re broke or in debt.
Saving 1 thousand dollars in a single month is an achievable goal with the right strategies.
By making small adjustments to your daily routine and managing your finances wisely, you can reach your savings target and save money on a low income.
However, I understand that it’s not always easy with bills to pay, kids to feed and the constant bombardment of adverts encouraging us to buy this and that!
But, I’m here to show you that saving $1,000 in a month is achievable and I have lots of ideas to help you save in areas you might not have thought about before!
Let’s get started!
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How to Save $1,000 in a Month: 13 Simple Ways that Work
If you’re new to saving money, it can seem like an uphill struggle, especially if you’re broke or in debt.
But, with a little planning, it is possible to save a significant amount, so you feel more financially secure.
I have done it myself, even when I was only working part-time, so I am confident you can do it as well!
Take a look at how to save $1,000 in a month.
1: Create a Budget Plan
Creating a budget is a crucial step toward saving money effectively.
By detailing your income and expenses, you can identify areas to cut back and this approach helps you allocate funds wisely, potentially saving hundreds each month.
Consider these steps to create an effective budget plan:
- Track all your expenses for one month to understand your spending habits
- Categorize your spending (e.g., groceries, utilities) to see where you can cut costs
- Set spending limits for each category and stick to them
- Allocate a portion of leftover funds directly to savings
Frugal tip: Utilize a budgeting app to automate tracking and get reminders when you’re nearing your limits. This constant insight keeps you on track and can help prevent overspending, ultimately leading to significant savings.
Learn more in our guide on budgeting tips for beginners.
2: Take on a Side Hustle
Learning new ways to make money online can significantly boost your monthly income, helping you save $1,000 faster.
Think about taking surveys online where you can get paid between $1 – $50 per survey, just for giving your pinion.
You could also consider selling courses online, reading audiobooks for money or getting paid to text lonely people.
Other ideas include getting a side job or offering paid freelance services such as writing, transcription, proofreading or graphic design.
There are so many ways to make extra money online the side hustle you choose really depends on your skills, passions and monetary goals.
Steps to Make it Happen:
- Identify your skills or assets: Determine if you have a particular skill or resource, like a car, that can be monetized
- Research opportunities: Explore options like delivery services, freelance work, or selling crafts online
- Set a schedule: Dedicate certain hours per week to focus on your side hustle
Frugal Tip: Combine multiple side hustles to diversify income streams and further increase your savings potential.
Further reading: 13 best side hustles you can do from your phone.
3: Sell Unused Items Online
Selling unused items online is a straightforward way to boost your savings account by another $1,000.
Many platforms, such as eBay and local selling sites, provide opportunities to turn clutter into cash.
By offloading items you no longer need, you could potentially save hundreds of dollars each month.
Here’s how to get started:
- Identify items you no longer use: Look for clothes, electronics, books, and other items
- Choose the right platform: Consider eBay for broader reach or local sites for faster sales
- Set competitive prices: Research similar items to determine fair pricing
- Create engaging listings: Use clear photos and detailed descriptions
- Communicate with buyers: Be responsive to build trust
Frugal Tip: Bundle similar items together to encourage bulk purchases and increase your profits.
4: Cut Non-Essential Subscriptions
When learning how to save $1,000 in a month, cancelling non-essential subscriptions should be one of the first things you do.
Many people have multiple subscriptions they rarely use and dropping these can lead to significant savings, potentially up to $100 or more.
Consider gym memberships, streaming services, and magazine subscriptions. By assessing what you truly use, you can keep more money in your pocket.
Follow these steps:
- List all current subscriptions
- Determine which ones are non-essential
- Prioritize which to cancel first
- Cancel subscriptions directly through company websites or customer service
Frugal tip: Re-evaluate your subscriptions every few months to ensure you aren’t paying for services you no longer use or need. This habit helps maintain your budget’s efficiency and prevents unnecessary spending.
5: Plan a No-Spend Month
A no-spend month is a surefire way to save a significant amount of money.
The goal is to avoid non-essential purchases for an entire month and using this strategy you could potentially save upwards of $1,000, depending on your typical monthly spending habits.
We all probably spend way more each month than we realise and by challenging ourselves not to spend, this can highlight areas where we might waste money.
Follow these steps:
- Set Clear Rules: Define what expenses are necessary, like groceries and bills, and what you will avoid, such as dining out or shopping for non-essentials
- Track Expenses: Keep a record of every expense to ensure you stay on track
- Stay Motivated: Remind yourself of the end goal, whether it’s paying off debt or building savings
Frugal tip: Involve friends or family to stay accountable. Sharing your progress can provide encouragement and new ideas to stick to the plan.
Further reading: 13 things to stop buying to save money.
6: Negotiate Your Bills
Negotiating bills is a straightforward way to reduce expenses and save extra money each month.
Many companies are open to discussion, especially if you’re a loyal customer and successfully negotiating your bills can potentially contribute hundreds to your savings goal.
To start, review your monthly bills such as cable, internet, and phone services and contact your providers and ask about possible discounts or promotions.
Do your homework to find out any deals other providers are offering as mentioning competitor rates can give you a stronger position in negotiations.
Follow these steps:
- Identify the bills you want to negotiate
- Gather information on competitor prices
- Contact your service provider
- Politely request a reduction based on loyalty or better offers you’ve found
- Be prepared to discuss alternative options, such as downgrading your service
Frugal tip: Consider using bill negotiation services that save you money by handling the negotiation, often for a fee based on a percentage of your savings.
7: Find Free Entertainment
Thankfully, there is a ton of free entertainment on offer these days.
And, by replacing costly activities with no-cost alternatives, you can significantly cut down on expenses and save.
This might involve taking advantage of local community events, public parks, or free online resources.
Do a general Google search of ”free events” or ”free kids activities” in ”your area” and see what comes up.
You might even be surprised at how much is going on!
Steps to follow:
- Research Local Events: Check community boards or websites for free concerts, festivals, or shows
- Visit Public Spaces: Enjoy parks, beaches, and nature trails for free outdoor activities
- Utilize Libraries: Borrow books, movies, and even participate in free workshops or events
- Explore Free Online Content: Access free streaming platforms, podcasts, or virtual museum tours
Frugal Tip: Swap subscriptions for free public alternatives, like library e-books, to keep your entertainment costs minimal while still enjoying what you love.
8: Use Cashback Apps
Cashback apps are an effective way to save money on purchases you already make.
They allow you to earn a percentage of your spending back, effectively reducing your expenses.
You can find cashback offers on groceries, clothing, or dining in various apps and you can even make money with passive income apps by completing short tasks.
Here are steps to use cashback apps:
- Download a cashback app like Rakuten or Ibotta
- Sign up and link your payment methods
- Browse available offers and activate them before shopping
- Purchase items as usual and earn cashback
Frugal Tip: Combine cashback apps with store discounts or credit card rewards to maximize savings.
9: Meal Prep to Reduce Dining Out
By stopping dining out and making your own meals, you can save at least a few hundred dollars a month.
There are many ways to save money on groceries, so you can eat well, without paying expensive restaurant prices.
This practice not only saves money but also time, as you eliminate daily cooking. Plus, you can make healthy meals for yourself, instead of grabbing quick snacks which are often full of fat.
Here’s how to get started with meal prep:
- Plan your meals for the entire week
- Shop for groceries based on your planned meals
- Cook large batches and portion them into containers
- Store in the fridge or freezer for easy access
By avoiding two restaurant meals per week, you may save at least $60 weekly, adding up to around $240 monthly.
Frugal tip: Utilize versatile ingredients that work in multiple dishes to maximize your meals without breaking the bank.
10: Transfer Spare Change to Savings
Using spare change wisely can help to boost your bank account nicel.
By rounding up purchases and depositing the difference, you can watch your savings grow.
Some apps automate this process, making it hassle-free and typically, this method could add around $20-$50 to your savings each month, depending on your spending habits.
Follow these steps:
- Use a microsavings app or bank service that rounds up purchases
- Automatically transfer the rounded-up amount into a savings account
- Regularly review and adjust the settings to match your savings goals
Frugal Tip: To maximize this strategy, consider setting aside a specific jar at home for loose change. Once full, deposit it into your savings account. Consistency is key to seeing significant results.
11: Avoid Impulse Purchases
Impulse purchases can significantly drain your finances and by eliminating these unplanned buys, you could potentially save hundreds each month.
Start by identifying situations or places where you tend to shop impulsively and avoid them as much as possible.
We’ve all been there when we go shopping for one thing and end up buying something we don’t even need!
Follow these steps to reduce this from happening:
- Identify your impulse buying triggers
- Stick to a shopping list when you go out
- Take a pause before purchasing, like waiting 24 hours
- Set a budget for indulgent items
Frugal tip: Carry only cash for non-essential items; this limits how much you can spend without dipping into savings.
12: Make Coffee at Home
Switching from purchasing coffee at a café to brewing your own at home is a top way to save money each month.
If a daily coffee habit costs around $5, you could save approximately $150 in a month by making coffee yourself.
Here are a few tips to make this happen:
- Invest in a budget-friendly coffee maker
- Purchase quality coffee beans or grounds
- Experiment with brewing techniques to find your preferred taste
- Use a travel mug to enjoy your coffee on the go
Frugal tip: Buy coffee beans in bulk and grind them at home for fresher, more affordable coffee.
13: Only Buy Used Items
Opting for used items is one of the simplest ways to save money.
Pre-owned products often cost much less than new ones, which helps stretch your budget.
Shop online at second-hand selling sites such as Vinted and DePop or visit local thrift stores to rummage through the donated items.
You could potentially save hundreds each month by choosing used over new, whether it’s for clothes, furniture, or electronics.
Follow these steps:
- Assess Your Needs: Identify what items you need and can purchase used
- Research Options: Look for reliable sources such as thrift stores, online marketplaces, or community sales
- Evaluate Condition: Ensure the items are in good condition before buying to avoid additional costs
- Compare Prices: Check prices on new items to see how much you’re saving
Frugal tip: Establish connections in local buy-and-sell groups for the best deals. You can often find gently used items at a fraction of the original cost.
Final Thoughts on How to Save $1,000 in a Month
I hope you’ve enjoyed this guide on how to save $1,000 in a month!
By following these simple strategies, you can be on your way to financial well-being.
Start by planning your budget, then look for ways to cut unnecessary spending and how to increase your income.
And, don’t forget to celebrate when you hit your $1,000 in-a-month savings goal – you have done the hard work and deserve it!
The post How to Save $1,000 in a Month (13 Ways That Work Even if You’re Broke) appeared first on Remote Work Rebels.
* This article was originally published here
