3 Strategies to Save an Extra $1,000 a Month

In this video, I’m sharing the 3 saving strategies you should be focusing on—what I call the ‘CEO approach to saving money’—so you can save thousands of extra dollars per month.

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Ramit Sethi is the host of Netflix's "How To Get Rich" and New York Times bestselling author of "I Will Teach You To Be Rich"

[schroedergustav]

Ramit's the best. I used to save 80% of my income by living extremely frugally. It helped me save a ton of money but I was miserable. Now, I still save a lot of money, but I don't hesitate to buy the things that bring me joy :) we never know how much time we have left on this Earth! As Ramit says, "Live your rich life today and an even richer life tomorrow" 💯 thank you Ramit

[Ryany]

My wife and I are automatically putting away $75 per paycheck. That's $3, 900 a year. It's our new vacation fund. First trip with a cruise in 1.5 years

[Allan_A]

Hey Ramit, I did most of what you suggested about getting a raise last month. My manager agreed that I'm doing more than my job description and that I should be paid more. I asked for $15K, he came back with $10K.

We also have a junk removal business on the side 💪

[LucyPooh]

I never thought about the “slow and gradual sustainable way” of cutting discretionary spending. I think this is why Ramit’s method works in the long run — he understands that human psychology and money go hand in hand. Ramit has a way of expressing this that’s relatable and hopeful. Thanks Ramit! 🙏

[salim]

C: Cut Costs : focus on the big wins.
E: Earn More : through 1 getting an arise, 2 finding a high paying job, 3 Side business while working.
O: Optimise the spending: negotiate on the big and medium wins, Allocate the spending more wisely

[ltgemini]

I left a job of almost 15 years. Was told I capped out on salary and left a job of almost 15 year. Next job had a good increase, then was laid-off after about 2.5 months with many others. Dept., then division closed down, NEXT job- Im up substantally from the 15 year job in about 2 yrs time. I try not to think about how my comfort impacted my earnings. Good luck everybody!

[franciscozevallos]

Went from $315 car insurance and $330 home insurance to a $155 car insurance and a $165 home insurance.. so yeap, that works. Now trying to get rid of credit card debt

[zork]

I am in the Air Force reserve and I work with a bunch of guys my age. I know this guy had just bought a 70K new truck but as we were talking one day he was saying something like “Ya I was trying to install this Trailer hitch and the the guy was like it is going to be $150 and I was like dude I am not made of that kind of money” I was just sitting there thinking why does everyone complain about every stupid little cost like it's the end of your world when you just go around and spend an entire year salary on something that has very little value.

[madaboutflowers]

I asked for a reduction in our rent as it was overpriced. when the landlord refused we moved out and the landlord got new tenants. However, I heard from the neighbors that the new tenant wrecked the house and ended up costing the landlord thousands.

[MEATX]

I want to see more 50+ SINGLE people on how to prepare for retirement

[jotusmas]

Started packing my own lunches at work and saved $200 per month

[trackee]

I honestly don’t know how people do it today with 2 cars and an expensive house at 30% of their income! We have no car payments and our mortgage is 8% of our gross income. Every month it always seems to be something - $2k ER visit for one of our kids, $2900 bill for car repair, $1590 to fix a leak in the house…. It goes on and on. We have a good income and low fixed costs - that’s the only way we’re keeping afloat!

[KimMaverick]

I noticed my building offering all sorts of incentives to new tenants, so I negotiated a lower rate for a 2yr lease instead of the usual 1yr.

[jjdub]

I do feel for people on the coast or lower income. I did the math and our P.I.T. is about 12.5%. It's hard to factor in routine maintenance, but even at that level with no car payments, 1 child...money doesn't feel easy so if people are at 30%+ with a family and a car payment or two then I can see how there isn't enough.

[fyermun]

Thank you Ramit. Im putting 10, 000.00 dollars a month in savings. Your strategies have really allowed me to save more. Not only am I saving more money but Ive learned how to wash and fold my own clothes and brew my own coffee at home. Who knew Id be putting more in the bank and gaining life skills at the same time.

[milenasings]

I’m in Europe, I bought my car for €1200 I fixed some stuff up that cost me around €800 and I’ve been driving it for 2 years now. It’s not perfect of course, but it does bring me from point A to point B. And when it stops working it won’t hurt that much, because it paid itself off already. :)

[squished]

I bet that people that are at the stage of struggling to save for retirement have not saved an emergency fund. So it may be effective to save for a much shorter term goal, like an emergency fund. Now "emergency fund" may not be that motivational to a lot of people either. But if we frame it as "job loss safety fund", that may be more helpful. Imagine being able to live for a whole YEAR without having a job and still being able to pay all your bills without worry; that might sound pretty appealing to a lot of people.

[me]

13 years ago I started riding the bus to save money. I’m in a much better place now but I’m never going back to driving.

It’s crazy expensive in both time and money.

[tobinkaestner]

Aiming to cut restaurant spending from 800 to 400 by the end of July. But the biggest win would be to find a higher paying full time job. I've used IWT's guide and still procrastinate all the time.

[andybungert]

14:08 Ramit your passion and fire (along with obviously good advice) is why I keep coming back.