30-Day Summer Savings Challenge

With summer in full swing, we all have the chance to get out and do more things. Having a fun summer is great, but it can be easy to overspend. Take our 30-day summer savings challenge, and see just how much extra you’ll have at the end of the month! Here’s how you can start stacking up the savings:

Gather All Your Loose Change

Pull out those couch cushions. Clean under the seats in your car. Check every nook and cranny you can find, and start gathering up all that loose change lying around.

Then, grab yourself a jar, and set it by the door. Over the next 30 days, any change you come across or receive should go straight into that jar.

You might just be surprised at how much loose coin you come up with at the end of the summer savings challenge!

Take the No-Spend Month for a Test Drive

One of the best ways to get a good chunk of change going during a summer savings challenge is to put yourself on a no-spend month.

During the 30 days, make sure you’re only purchasing what you absolutely need. This means the trip to the movies is out, the mani/pedi is going to have to wait, and that gallon tub of ice cream that looks amazing but isn’t required to keep you alive will have to stay in the freezer section at the grocery store.

It may seem hard at first, but once you’ve seen how much more you can save when you’re only getting what you need, it will help you prioritize those wants down the road and set you up for financial success as well.

Examine Your Monthly Subscriptions

As monthly subscriptions become more and more popular, you may find that you, too, are paying out small fees each month to one or more service provider for things like television and movies.

But have you stopped to examine just how much those subscriptions are costing you?

Consider letting one of those go, and relish in the extra cash you’ll have for the month. Worried you might not be able to live without Netflix? Stop by your local library and check out their media section. Many offer a large catalog of movies and TV shows on DVD, and all you need is a library card – and those are FREE!

Turn Your Trash into Treasure

Garage sales are a great way to get instant money into your hands, and they also help lighten the load by getting rid of all those things you no longer need or want.

Go through your belongings and include anything you haven’t used in more than two months in your garage sale. Don’t forget to check items that may be stashed away in storage!

Want to increase your profit even more? List your items for sale on sites like Craigslist, VarageSale, or the buy, sell, trade pages on Facebook. Whatever items you have left over from your garage sale now have a bigger chance of turning into cash!

Once you’ve completed your 30-day summer savings challenge, be sure to count up everything you have saved. This way, you’ll be able to quickly see how much it’s allowed you to take control of your finances in just a short time of saving.

Now that you’ve learned ways to increase your savings, consider creating a budget to maximize your cash flow potential down the road. Learn how to create a budget in 5 easy steps.

Be sure to come back and let us know how our 30-day Summer Savings Challenge worked out for you!