How to save $6000 in 6 months

Saving money in a tough economy is hard, let alone $6,000 in six months. But that amount of money can be lifechanging. If someone told you they had a plan that can help you save $6,000. Would you at least be open to it?

This article will go over beginner steps on how to save that amount of money whether for an emergency fund, down payment on a car, or paying off credit card debt.

If you divide $6000 by 6 months, you get $1000/month. It is tough, but doable.

I personally saved double this amount with the steps show you below, so I know if you are consistent and stick to the plan you can do it too.

How can you get more money right now?

The best way to get more money right now is by tracking your expenses. It is the only way to understand how every single dollar is being spent.

Truth is, getting more money is probably right within your own budget. Take a little time to evaluate your current expenses.

Start with your non-negotiable expenses like rent or mortgage. These are set and usually don’t change much. 

Related:14 Semi-passive income ideas for beginners. Side hustles with medium time commitment

Eating out is an area that can be cut down tremendously. Did you look at how much you spend every month going out to restaurants, don’t forget those coffees too; all these expenses add up.

So many people spend, let’s say, $5.00 every day for their favorite coffee. Start here and cut this from your costs. There are about 20 working days per month.

If you save those $5, you’re already saving $100 per month. Buy yourself a coffee maker; they can be less than $20, and make your own cup. Not only are you saving money but so much time sitting in lines. If you want to talk about real savings, living with your parents can be a great way to build a financial foundation..

Save Money Just By Planning

What are some money-saving ideas that really work? How can you get money quickly? These and many more questions are probably entering your mind right now. $1000 per month saved on what I earn and what I currently pay in bills is totally ridiculous.

It’s not even possible. But if you remember my little math problem we went over before about the daily cup of coffee, you are already saving $100 per month! That is 1/10 of the way there. Let’s move to another area, restaurants, groceries and eating out. 

Also Read: How To Budget For Busy People. 4 Different Methods

How often did you notice you were eating out? More than once per week, maybe? Well, let’s make another minor change here. Plan to cook meals at home. This is going to cost more money upfront on groceries but it will still be cheaper than buying most of your food outside.

Some ideas to consider when you want to save money by cooking at home:

  • Planning ahead. Planning not only saves money but also time too. 
  • Make a meal plan. Start with breakfast. If you saw that you were buying your breakfast every day, start here. 
  • Try a new recipe. Make yourself something you like and make a little extra to have it for a few days.
  • Grocery Delivery Services. A great service to consider is using Walmart + grocery delivery or any grocery delivery company in your area.

Many of my clients are amazed how much their grocery budget goes down by planning and taking a little extra time to know what they want to make.

Learn the Envelope Technique

Ever heard of envelope stuffing?

The envelope technique is a money saving method that sets you up to save money monthly.

You start with dedicated envelopes for bills and expenses. Figure out how much money is required to pay for those expenses. In the envelopes you set aside money for these expenses.

The trick is to only spend what is available in these envelopes.

This is a proven way to budget money. Avoiding the temptation to spend the saved money for other luxuries or expenses is half the battle. The goal is to only use this allotted money for your expenses.

Can you do it? Of course, but this is something that you need to stay very focused on and keep excellent notes and accountability on your expenses.

Avoid using credit cards when you are using the envelope technique. Credit cards are convenient but can also get us in lots of trouble. Credit cards are actually borrowing money like a loan. When you are looking for ways to save money, borrowing more money is not the solution.

Related: Stretch your dollars using five simple budgeting basic

Make more by growing your income

The best way to deepen your pockets is by growing your income.

Do you work freelance? Many of us have jobs that pay us when we complete the job.

Let’s say a job takes 6 months to complete. That means you have to wait 6 months to get paid? If you’re working towards a goal, this can get in the way. 

Have you ever thought of having your clients pay in total upfront? Maybe even set up installments at specific time points. You either get paid upfront or have scheduled payments now and have a more substantial cash flow.

These are a few ideas to earn quick money and deepen your pockets. Make your money available sooner. Doesn’t this sound better than waiting for those 6 months to be over before you even see one dollar from your hard work? 

  • Side hustles.  Side hustles are ways to help you get more money faster. 
  • Try helping out a neighbor. Help a neighbor who needs tasks done.  Treat this as work, work requires payment. Neighbors are also friends, be fair and not overcharge them, but you also have a goal and want to reach it fast. Earn quick money now! 

Find tasks that you can do on the side that get you closer to your plan, and save money for the future. Every dollar matters when you have a goal that you want to reach in a limited amount of time. Saving money for the future is not easy. Look for quick money ideas anywhere you can find them. 

Best ways to manage your tech splurges

The best way to manage your tech splurges is to assess what gives you the greatest value, more bang for your buck technique.

Tech items are fun for many of us. Tech items are made to catch our attention on how innovative they are. How they improve the quality and ease of our lives. The price tags associated with many of these tech items is another thing.

Many tech items can be costly.

They seem so valuable and necessary. Think about most of your tech purchases. How long did you actually use it for? Did it end up in a drawer after 2 months? Limiting tech purchases when you are focused on a savings goal will help you reach your goals faster.

If you find a product you like, don’t go overboard on accessories. Instead, buy just what is needed to make your purchase work.

This saves time and money in the long run. Also, check for discounts or refurbished tech.  Be sure that used tech has been certified refurbished. This is another way to get great deals on tech at a discounted price.

Assess your subscriptions

The average person spends $219 a month on subscriptions. For most people, that money is spent without much thought. But it’s easy to cut the cost and save yourself some cash each month by assessing what you need.

How can you save money?

If you want to cut your costs and save money every month, there are a few things you can do.

For example, cancel subscriptions that aren’t needed. Cancel cable or satellite TV channels that you don’t watch regularly. Cancelling magazines and newspaper subscriptions are ways to cut down on expenses.

Some of the best services that you can use that will save you tons each month for TV channels, movies and shows are:

Another tip is to unsubscribe from magazines.

These are all great to read and enjoy, but these really add up when you have a goal and are looking to reach it fast.

Your library has most of your favorite magazines available, accessible to you with your library card.

There is also an online library that you have access to where you can download books, magazines, and so much more for free. Just download the Libby App.

Let’s put it all together

When you want to save $6000 in 6 months, start with your monthly expenses. Decide where improvements can be made.

Build a plan and follow through. Use simple budgeting techniques like the envelope method.

Find as many ways to make your pockets full. and start saving money today. If you need help saving money, follow this blog and learn our secrets on how we paid off $170,000 of debt in just three years.

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