Savings is a habit, you need to practice and build up the savings muscle frequently. This 7 days savings challenge is easy and applicable to most households.
Day 1: Cancel one subscription
Make a list of all the subscriptions you currently have by reviewing your credit card for the last 90 days. Review: Netflix, Spotify, Disney +, Cable, Food Services, Beauty. Pick just one and cancel the service today. Savings: $10 approx.
Day 2: Create a Rakuten account
Make sure to do all your online purchases via Rakuten for extra cash back. You can use this Rakuten referral link!
Day 3: Grocery shopping with a list
Next time you go grocery shopping, spend 10 minutes beforehand and write down just the things you need from the grocery store. Only buy the things written down on your list. Check out How to cook less and save money with homemade meals.
Day 4: Switch to reusable pads
Savings challenge favourite! Invest a few dollars and buy reusable menstrual pads. Wash them after your cycle ends and never worry again about having to do an emergency drugstore visit because you ran out of pads.
Recommended product from Amazon: Thenco Menstrual Pad Support Set.
Day 5: Wash your own car
Next time your car needs a quick exterior clean, take a small bucket of water and a cloth to do a quick exterior wipe. It may not be perfect, but you’ve saved at least $10!
Day 6: Off peak vacation planning
If you know you’ll be taking some vacation time but you don’t know exactly when; start reviewing hotels and flights with flexible dates instead of using a specific date range. Select the cheapest day or season and then request vacation days off from work.
Day 7: Put your savings in automatic
Can you afford saving $1 a day? This means $30 per month or $365 per year.
Can you afford saving $10 per week? This means $40 per month or $520 per year.
Log into your online banking and set up automatic transfers per week or per month, whatever works for you. This can be the start of your rainy day fund.
Every little counts. Start saving today!