5 Ways To Save Money Fast ($300 A Month)

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If you think making money is difficult, wait until you try to save money. The key is to have a strategy in place. By taking a few steps, you can save up to $300 a month.

How To Save Money Fast — Up To $300 A Month

This article is going to show you how to immediately save money so that you can start building up your savings.

  • Automate Your Savings
  • Cut Out Your Coffee
  • Downgrade Your Cell Phone Plan
  • Eat Leftovers
  • Cancel Unwanted Subscriptions
  • Cancel Your Gym Membership

The way you can use this list is to look at your own circumstances to see where you can cut. Make it practical: Going to the extreme will only result in temporary savings.

1. Automate Your Savings

Building a savings account is one thing; consistently contributing to it is another. The simplest method is to utilize direct deposit, offered by most banks and credit unions, to split your paycheck. The idea is to put a portion of your earnings directly into your savings account while the rest goes into your checking account. This way, you can easily designate a specific amount (you decide how much!) to be saved automatically.

Begin by determining the percentage of your paycheck you wish to save. Next, set up automatic transfers. If your employer doesn’t offer direct deposit to multiple accounts, or if you’re self-employed, you can arrange your own automatic transfers from your checking to your savings account. This method ensures your savings grow consistently, earning interest in a secure location, and minimizes the temptation to spend impulsively.

2. Cut Out That Starbucks Coffee

If you’re paying $5 a day for Starbucks Coffee, you’re forking over $25 a week and $100 a month.
As an alternative, brew your own coffee at home and save that $100 for a rainy day.
Monthly savings: $100

3. Downgrade Your Cell Phone Data Plan

Let’s face it, you’ve got Wi-Fi at home as well as in the office. In fact, the average cell phone user only uses 1.6 gigabytes a month, by some estimates.
So you likely could cut your phone’s data plan to bare bones without much impact.
If you’re paying for gobs of data with AT&T or Verizon, you monthly bill is likely $75-$100.
Why not check out one of those pre-paid economy plans that give you unlimited data for $45.
Two plans that come to mind are Simple Mobile (runs on T-Mobile’s network) and Straight Talk.
Monthly phone bill savings: $35-$50.

4. Eat Leftovers

Most U.S. consumers spend $10 a day on food, which is generous for three meals a day — but what if you could cut that in half?
Designate two days a week that you will eat leftovers either for lunch or dinner.
Instead of paying $50 a day for food, save $25 of that amount.
Monthly savings: $100

5. Cancel Redundant Subscriptions

If you can watch and listen to music for free on YouTube and watch free movies on Tubi, you may be able to cut down on a host of subscriptions.
Many people today have a combination of streaming services, which may equal or exceed what they were paying for cable TV.
If you’re paying for them, here are several you should consider cutting:
  • Pandora Premium – $9.99
  • Spotify: $9.99
  • Apple Music — $9.99

 Movie & TV Streaming

  • Netflix: $12.99
  • Disney Plus: $6.99
  • HBO Now: $14.99

Monthly savings: $60

Here’s a streaming hack that lets you watch for FREE!

6. Cancel That Gym Membership

Even if the COVID pandemic wasn’t going on, you shouldn’t be spending money every month to work out in a gym.

You can save more than $360 a year by eliminating your monthly gym dues. As an alternative, look into creating your own home gym for under $60.

Last Word

It may take some effort and self-evaluation but you can keep more of your money if you devote a little bit of time to evaluating where your money is going every month.

As you can see, you can save quite a bit of money really fast if you try some of the things we’ve mentioned. Here’s the truth…

You Can Save $300 A Month

The savings strategies that we’ve outlined are something that you can put into practice right now. This can be $300 in savings each month. That’s $3,600 a year.
You may have some other ways you’d like to save. Let’s hear from YOU!

Interested in other ways to save or make money? Check out our Money Page:

Tee Johnson: Tee Johnson is the co-founder of AtlantaFi.com and as an unofficial ambassador of the city, she's a lover of all things Atlanta. She writes about Travel News, Events, Business, Hair Care (Wigs!) and Money.