8 Creative Ways to Raise $1,000 in 30 Days
Looking to put quick savings back in your pocket? Try these 8 creative savings techniques.
Bundle your home and auto insurance
This money move gets overlooked far too often, and it shouldn’t, because it’s worth about $500 in annual savings. Research coming out of Onlia shows that whether you’re a tenant or homeowner, placing your separated policies under one company creates savings opportunities. Also according to Onlia, you can supercharge your savings by:
Having a claims-free history
Using winter tires when driving in cold weather
Being ticket-free for three years
Signing up for the Onlia Sense safe driving app
Good news is nowadays you can save money on insurance without compromising quality coverage.
Purge your home
Go room by room, then to the garage and storage shed, to find valuable items that aren’t serving you anymore. From computer equipment, to desks, to bicycles, to clothes, to baby gear. Rather than have these items collect dust, place them for sale on a reputable used goods website like Facebook Marketplace or Kijiji. Compare prices for similar listings so that you’re not off the mark when you set your price, and take a good quality, well lit picture of whatever you’re selling. This money move could easily add $1,000 to your bank account, especially if you’re selling multiple items.
Convert your loyalty points into cash or essential goods
You’ve been sitting on your points hoping to use them for travel, right? Well, with continued pandemic uncertainty around travel, it might just make sense to use these points for other money-saving purposes. Start with these steps:
Lay all your cards on the table -- literally spread them out on a big surface so that you can see what you have -- and don’t forget your digital points, too.
Identify what your point collections can be cashed in for: groceries, money, savings for your investments and so on.
Next, determine what your needs are. If you could use the cash-back on your VISA, convert your points into cash. But, you might be in need of groceries or a replacement vacuum cleaner.
Last, work strategically through your points to use them up.
Research shows this money move could add up to between $100 and $400 in nearly instant savings!
Cancel all but three subscriptions
You’ve accumulated a lot of subscriptions over the past year, right? Fitness apps, streaming shows and movies, music, eBooks and SO MUCH MORE! Has it gotten a bit out of hand? Why not put some of this money back into your pocket by reducing the number of your subscriptions to just three, and ensure you keep the ones you value most. Every month that passes with tiny little charges here and there can add up to over $300 in the course of a year.
Meal plan like you mean it!
Meal planners save an average of $100 per month!!! Yes, you read that right. These folks skip the food waste by ensuring they have a plan for everything they buy. To get started, you can download a meal planning template for free, or make one yourself. Simply map out the meals you’ll make for the week ahead, and create a list of the required ingredients. When you shop, stick to your list... and don’t go on an empty stomach! Hungry grocery shoppers overspend by up to 10 per cent!
Supercharge this strategy by planning to make 90 per cent or more of your meals at home. Save take-out for days when you want to reward yourself, and when you have a coupon!
Quit smoking or drinking... at least for a month
It’s great for your health and your wallet. Smokers spend an average of $200 - $400 per month on cigarettes. And, drinking regularly can rival those numbers. Why not take the next 30 days off of both vices, bank the savings, and see how you feel after the month is over?
Buy from the second-hand market
Whether it’s a toddler bed, bicycle, or work-from-home equipment, what can you find second-hand? This is a terrific way to save money and help the environment at the same time. Here’s a fun fact to motivate you, too. MeVest Founder, Lesley-Anne Scorgie, furnished her first home (1500 sq ft) entirely with second-hand goods for $3,500. When she was finished, her place was featured in multiple house and home media stories always with the angle of how you can have a gorgeous home with a limited budget.
Skip the fees
Take a super close look at banking fees, statement fees, fees you’re paying your telecommunications or internet provider and so on. What can you do to eliminate 80 to 90 per cent of the fees you currently pay? Pro tip here is unless you look super close, you’ll never find these kinds of opportunities to save. This money move should put $45 back into your pocket in just one month...now imagine the savings over the course of a year!
