How to Save $10,000 in a Year
Finding ways to make and save an extra $27.40 a day might seem difficult at first but once we got into it, we were surprised.
We’ve been doing it for a month now, with the money kept in a high interest savings account separate from the rest of our finances.
Here is how we made the extra money this month.
Online Surveys
We cashed out 3 times this month, which is more than normal for us.
With a couple of longer surveys, we easily hit the $27.40 a few times through Octopus Group, the highest paying online survey site.
It is not the best use of my time but when I feel braindead already, it is ok.
Cash Back
Shopback is my preferred cash back site and this month, I got a few payments. Getting money back on things you have to spend money on anyway feels great.
Coupert is another cashback program that also scans for extra discounts for you.
Bank Bonuses
Some banks offer sign up bonuses and referral bonuses. Up Bank offers $21 instantly to new customers, they are backed by Bendigo, are online only and have been around for years.
There is nothing else you need to do with the account to get the bonus either. Simply sign up for free.
Sales
I sold a few items I no longer needed and bought a few items to resell as part of my $1 to $1,000,000 project.
Reselling isn’t something I want to do much but it works.
Cancelled Subscriptions
Netflix and Spotify were the first to go, each worth over $27.40 for the month. Since they are cancelled, that is now a savings every month too.
Compared Bills
All insurances, electricity, internet, mobile phones, everything were compared and better deals sought.
Freebies
We were fortunate to get free food in a variety of ways from friends and family, all of which was put to good use and delicious. It saved us over $100 this month.
Gift Cards
We went on a gift card hunt and found a few we were able to use for groceries and transferred the money.
Cash For Cans
We were collecting them for a while and cashed them in this month. We have cans from a few friends and neighbours too, those cans are not only from what we drink.
What Is Our Focus for Next Month?
It was fairly easy to find ways to make or save at least $27.40 a day in our first month.
Not everything we did can be repeated in month two, although some things were subsciptions so we could technically count them again in month two if we wanted.
Instead, our focus in month two is to create a few more income streams or experiment more with side hustles and increasing money rather than savings.
Frugality is great and we will continue to look for ways to save money but since there is only so much we can cut back, focusing on making more seems smarter.
