Here’s how to increase your savings without too much effort.
- An extra $100 could give you better emergency protection and more flexibility.
- Earning an extra $100 may be more doable than expected with these tips.
Most of us could use more money – whether to swell our emergency funds or just to give ourselves some extra breathing room. But at a time when inflation is making everything so expensive, finding extra money for our savings accounts can be difficult.
If your goal is to increase your savings by $100 in October, here’s some good news: it really is an achievable goal. Best of all, you don’t have to live miserably to see your savings grow by $100. Here are some relatively simple ways to give your bank account that small but significant boost.
1. Make your own coffee
If you’re the type of person who relies on caffeine to get you through the workday, then giving up your morning coffee isn’t at all sensible. But if you’re willing to brew it at home for a month rather than buy it from the store, you could easily save $100 in the process, especially with so many coffee shops raising their prices in response to inflation.
New: A card with a huge bonus of $300 hits the market
More: These introductory 0% APR credit cards made our top list
2. Prepare your own lunches
Making a sandwich or putting the leftovers in a container on the way out really isn’t that difficult. But it could save you a lot of money compared to what you could spend on buying your lunch most of the time at a cafe or restaurant near your office.
3. Socialize at home for free or at low cost
Spending time with friends often means spending money in the process, but it doesn’t have to be. Rather than isolating yourself for a month to boost your savings, find ways to get away without spending too much. That might mean inviting friends over to watch the latest Netflix series, or it might mean getting together at a friend’s apartment for a potluck dinner where everyone contributes.
4. Take a quick side hustle
You may not have the time or inclination to hold a side concert for months. But you don’t have to. You might find that there’s a quick gig you can sign up for that will put $100 in your pocket. Check your community’s Facebook page for upcoming events and notices. You may find that there is a dog owner nearby who is looking for a single day pet sitting service or a catering business that needs a food server for a Saturday night event.
5. Use your feet to get you where you need to go
Spending less on transportation could easily make you $100 richer in a month. Rather than driving or carpooling around town, try walking or biking to work and social events. And also, try asking to work remotely a few days a week to reduce the amount you spend on gas. Remote work is hardly a strange thing these days, so your employer might embrace it.
An extra $100 won’t change your life – but it’s a sum worth trying to save nonetheless. And if you follow these tips, you might find that adding that $100 to your savings is actually a breeze.
Alert: The highest cash back card we’ve seen now has 0% introductory APR until almost 2024
If you use the wrong credit or debit card, it could cost you dearly. Our expert loves this top pick, which features an introductory APR of 0% until nearly 2024, an insane payout rate of up to 5%, and all with no annual fee.
In fact, this map is so good that our expert even uses it personally. Click here to read our full review for free and apply in just 2 minutes.
Read our free review