Save $100 This Month

Posted: August 17th, 2023
Updated: December 12th, 2024

Think you can’t save? Then think again! If you are struggling to save money, you are not alone. Inflation is driving prices up faster than wages and many Americans are struggling to live paycheck to paycheck. Saving $100 a month may seem like an impossible task, but it’s not as hard as you may think. The biggest trick is Stop Wasting Your Money, and the best time to start is NOW!

Here are some tips to start you on the path to savings and put that extra $100 cash in your pocket.

Track your spending!

Untracked small expenses like coffee, cigarettes, and snacks add up quickly and are a downfall to your budget even more than large expenses. They can be sneaky!

Food

Cutting your food budget is one of the easiest ways to save. If you eat out at work, think about getting an appetizer and split an entree. You can share with a co-worker or save the leftovers for dinner. Better yet, bring your lunch to work. If you do it for 1 week you’ve saved $50. Do it for 2 weeks and BOOM! You’ve saved $100! Check out our previous blog: Living on a Budget

Gas

Do the gas prices make you do a double take at the pump? It’s no wonder?! Of all consumer goods, gas was hit the hardest by inflation. In March of 2022, the US set a record for the most expensive price per gallon. Just driving around town to work or school can really take a bite out of your paycheck.

Change the way you drive to be more fuel efficient and save more money. Practice driving smoothly. Rapid acceleration, speeding, and sudden braking can cost you around 10-40% more per gallon. Avoid excessive idling. I know it’s tempting to keep your car running in the drive thru or school pick up line but it’ll cost you! Idling uses a quarter to half a gallon of gas per hour. That’s 2-4 cents a minute!

Pay cash for your gas. The advertised price is for cash payments. Using a credit card could cost you 5-10 cents more per gallon. These fees might even apply to debit cards. The difference adds up. Pay cash and save a few bucks. You can sign up for apps like GasBuddy or Waze that finds the cheapest gas near you. Did you know Monday is the cheapest day to buy gas? For more ideas, check out our blog: Frugal Living

Energy

This one is pretty painless. It involves being proactive rather than cutting something out. You know the drill: turn off the lights and electronics when you aren’t using them, switch to LED lightbulbs, adjust your thermostat. Guess what? Bonus points for saving money and helping the planet.

Clothes

Shop for cheap clothing without looking like you do. The average person spends about $1700 a year on clothes. Multiply that by a family of 4 and you’re spending a pretty penny. Shop your closet before you buy. Chances are you have pieces you’ve forgotten about.

When you go shopping, look for clothes you can mix and match with at least 3 items in your closet. More outfits for less money! WIN/WIN!! Want a good deal? Head to the back of the store to the clearance section. Stores put their new merchandise front and center. That equals expensive. You see it, you buy it. Designer white T-shirt? No Way! Put it back, you don’t need it.

Big Box stores are the perfect place for stocking up on t-shirts, socks, and underwear. And by the way, don’t turn your nose up at used clothes. A lot of places sell clothes that are like new. Checkout some online stores like ThredUp or PoshMark. Keep as much of your paycheck as you can.

Bills

Set your bills up on auto pay to avoid late fees. Just be sure to check your account balance regularly to make sure you are not overdrawn. Whoops, another fee!

Coffee

Are you a regular coffee drinker? Start making your coffee at home. If you spend $4 per day 5 days a week, you just drank $1000 worth of coffee this year! You can still go to the cafe for coffee. Just go as a treat and not every day. You’ll save a lot!

Cell Phone

Make sure you are getting the best deal from your cell phone provider. Be realistic about how much data and services you really need. •Save Your Savings- You know when you check out at the store, and they tell you how much you saved on your purchase? Well, immediately transfer that amount into your savings.

Save Your Change

Drop your pocket change into a jar. It’s an old standby, but it works. You may only save $10 a month but hey, that’s $120 a year. Slow and steady.

Cable

Most people use streaming devices for their entertainment, but there are still some who use cable. If you are one of them, consider switching and you could save around $60.

Raise

If you are lucky enough to get a raise at work, pretend like you didn’t and save all or part of it. How about that tax refund check? Save all or part of it too.

Sell Things

It’s not just about cutting costs. Sell some things you don’t need or want to earn some extra cash. Check out some selling apps like eBay or Swap or just have an old-fashioned yard sale.

Change your Mindset!

Using these strategies can easily help you save $100 this month. Start slow and small. Think of the money you save as seeds that will blossom into an extra layer of security. Start those good saving habits today!

Remember, even though you are trying your best, extra expenses or emergencies come up. 3D Financial is here to help when you just can’t make it until your next payday. We offer lots of different services to fit your needs. In a hurry? Go to 3DFinancial.com/apply to get an online personal loan or find a friendly neighborhood store near you.