Are you trying to figure out how to save money fast for an expense or bill that is coming up really soon? Maybe you have an upcoming car insurance payment that you don’t have enough room in your budget for. Maybe you just want to pay for your schooling strictly in cash. There are so many possibilities for things that have the potential to bust your budget into pieces, so having options to shave your budget quickly is always important.
There are many ways to save money fast. While not everything will result in you saving tons of money, every little thing helps and can help you reach your goal. You can save hundreds of dollars every month if you set your eye on the end goal.
1. Cancel things you don’t need
As long as there is no cancellation fee, or if it’s very low (if it’s $150 or something, then I’m going to guess that it’s not worth it), then cancel it for now! You might even find that you don’t even need it.
Don’t need all of those extra channels on your TV? Cancel them. My cable company does not charge me anything if I want to lower my package. So even though cancelling it altogether would cost a lot, maybe just try lowering and cheapening your package. This could save you a quick $50.
Also, if you can’t cancel it, see if the company will allow you to put in on “hold” and not have to pay it for a couple of months. Many places such as your gym will probably allow this. They might charge a $5 administration fee, but if your monthly fitness expense is $50 a month, then it is probably worth it to put it on hold. It’s even more worth it if you aren’t using it. However, if you’re not using it then maybe you should weigh the cost of the cancellation fee and think about cancelling it altogether.
2. Sell stuff
I’m sure you have stuff in your closet and house that you can sell. Try Craigslist, eBay and your local consignment stores. You can probably make at least a couple hundred dollars from this. Just look through and weed out anything that you don’t need or wear anymore.
You might only get a couple bucks per clothing item, but if you have any unused electronics or furniture items, then try selling them quickly. These will most likely net you more money.
3. Use the library as your entertainment
There are a lot of things to do at the library. You can borrow books and movies instead of going to the movies, renting movies or buying books.
4. Bring your lunch everyday
Bringing your lunch to work everyday can save you hundreds of dollars in one month. Even a $5 fast food meal can add up over the course of a month, so bring your food. You will save money and most likely lose any unhealthy pounds that you might have added on.
What do you do when you need to save money really fast?
If you’re already doing the things on this list, then what are YOU doing to save money quickly?
Michelle Schroeder is the founder of Making Sense of Cents and Diversified Finances, a personal finance and lifestyle blog about budgeting, traveling, life, and student loans. Read further on her story and life.