How to Save $1,000 FAST!

This video is designed to help you save $1000 fast… and you can keep using these money saving strategies to save even more!

Why $1,000? According to Bankrate’s Financial Security index survey, 61% of people in the United States would not be able to cover an unexpected $1,000 expense.

Years ago, when I was getting back on my feet after losing my home to foreclosure and going bankrupt, I read Dave Ramsey’s Total Money Makeover Book, and he recommended starting to lay a firm financial foundation by putting $1,000 aside in a separate emergency fund as soon as possible.

Until I read Dave Ramsey’s book, I knew I “should” have an emergency fund or reserve fund, but trying to save up 3-6 months of living expenses was overwhelming so I had a hard time making progress.

When he suggested starting with $1,000, I thought “I can do that!”

There’s a good emergency fund saving tip right there…

There’s something powerful about having a clear, specific and reachable goal… that alone can help you generate ideas and see opportunities to save money.

So I created this video to help YOU save $1,000 FAST, specifically so you can start your emergency fund, if you haven’t already done that, but obviously, you can use these tips to help you reach any financial goal, like if you’re saving for a car or saving for a house… or coming up with extra money to invest.

My first emergency fund saving tip is to create a separate savings account that’s specifically designated for the financial goal you’re working towards. Maybe you call this your Emergency Fund.

Once you’ve set up a separate savings account, Step 2 is to look for money leaks in your current spending patterns.

This is Saving Money 101, but it’s a super powerful emergency fund saving tip that also works if you’re saving money for a car, saving money for a house, or saving money towards any financial goal.

Once you’ve seen where all your money is going for the last 3 months, then the fun starts.

You can approach this like a treasure hunt and look for money leaks… places where you’re spending money that aren’t necessary and don’t give you a lot of joy of fulfillment.

Once you’ve scanned your current spending for big, obvious money leaks, take another pass and see where you can cut back on little money leaks that add up.

Step 3 is to generate more income. Again, this is saving money 101, but it works!

One of the easiest ways is to sell your lazy assets.

Or could you host a garage sale?

In addition to selling lazy assets, you might have lazy assets that you aren’t going to sell, but you can still monetize!

For example, if you have a spare room in your house, maybe you could rent it out on Airbnb.

If you own your own business, you have SO MANY options for generating more income quickly!

The easiest route is usually to reach out to current clients and past clients, people who already know you, like you and trust you and offer them a special deal.

There are a bunch of ways to boost your income from driving for Uber or Lyft to tutoring your friends’ kids to taking on some short term contract work. Any of this can help get you to $1,000 fast.

Here’s a bonus tip… you can check to see if you have any unclaimed money.

This may or may not work, but it only takes a few minutes, and if you DO have unclaimed money, you’re that much closer to your $1,000!

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How I Lost $6,000,000 in Real Estate

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The Top 5 Best High Yield Savings Accounts in 2021

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UNCLAIMED MONEY SEARCH: Are Sites to Find Unclaimed Assets Legit? (How to Find Money Owed to You)

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LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (valued up to $1850):

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NOTE: Penelope Jane Smith will receive an affiliate commission or referral bonus from some of the links and other products that appear in this video. Penelope Jane Smith is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[lizclark]

Turning a major stressor into a minor inconvenience - everyone needs that!!

[mamaahu]

This choice to be able to declare "I am a saver". Such a different feel.

[fearlesswealth]

Right on Penelope. The behavior is more important than the amount.

[lisajenni]

This is a great reminder of small actions that can make a big difference. I often overlook the little things i could be doing while i have my sights set on big goals. Thanks Penelope!

[theresatreecretella]

I so appreciate this tip Penelope! I was one of these people who had an unexpected car repair when I was trying to go out of town. $750 and it was stressful having to find someone to borrow $ from

[successwithstacee]

Saving $1000 when you're broke sounds like a difficult task but you make it easy! This was such an informative and entertaining video.

[bobjacobson]

Thank you Penelope! You have been a great help and inspiration for us over the last 9 months! We now have a reserve fund and our business is thriving.

[reginac]

Great ideas! I want to watch the video again and take notes next time!

[SinclairWellness]

Your shares are so valuable and practical.

[figarolechat]

Penelope, I love your energy and so many easy to follow tips - in addition to the Big Picture ideas -Thank you!!

[AndrewCrocker]

I think this is my favorite outfit yet :). I also love that you seem to really wanna help people with a simple tip such as how to better manage money.

[jankamelasova]

Thank you Penelope for your very valuable tips. And who doesn't want to have stress free life?

[AnnWagnerLive]

thanks for always providing great financial info!

[renniegabriel]

Wonderful guidance on starting the emergency (spend later) fund. I did not see a link to your video about the mistakes you made that led to a $6m loss of real estate, so others can avoid the same fate.