Are you ready for a pretty mind-blowing statistic? According to CNN Money, an estimated 69% of Americans have less than $1,000 in a savings account and 34% have absolutely no savings at all.
If you’re one of those Americans who doesn’t have a minimum of $1,000 in your savings account, don’t fret. Instead, plan to fatten up your savings account with these tips:
- Look around your house and find some unused items to sell
- Schedule an automatic transfer from checking to savings each month
- Create a budget and stick to it (add in a monthly savings goal)
- Pick up a side gig
- Plan an at-home date night and put the money you would have spent going out in your savings account
- Download a savings app like Qapital or Acorns
- Redeem your rewards points for cash and put that money in your savings account
- Sell unused gift cards to friends or family
There are lots of ways you can earn some extra cash to build up your savings, but the bottom line is this: if you don’t have a minimum of $1,000 in your savings account, you don’t have enough. Not having enough in savings and living paycheck-to-paycheck will mean going into debt if you have any unplanned expenses. Use some of these tips to build up your savings and plan for the unplanned!