If you’re thinking about using the cash envelope system to budget effectively, having the right cash envelope wallet is key. A well-organized wallet makes it easy to divide, access, and track your cash, helping you stay committed to your budgeting goals. Without one, managing your envelopes can feel chaotic, making it harder to stick to your plan.

Today we will take a closer look at some of the best cash envelope wallets that will make your life easier while staying in style.

What is the cash envelope wallet system?

The cash envelope system essentially puts you on a cash budget. You can determine exactly how much you’ll spend in each cash envelope category based on your goals.

For example, you might decide that you are able to spend $375 on groceries and $150 on gas this month. Once you’ve determined how much you can spend in each category, you’d then place the cash into envelopes. You can spend the cash out of these envelopes until you’ve reached your limit for the month.

Note:  Your fixed expenses like homeowners insurance and your mortgage shouldn’t be included in your cash envelope system. Instead, you can pay these expenses directly from your bank as you typically would.

The cash envelope system is designed to help you stay on top of your discretionary spending choices. With a cash budget, you may find that you are able to stick to the tangible budget more easily without the temptation of overspending with plastic.

You could also challenge yourself with a cash envelope challenge to save money over a specific period of time!

Why cash stuffing is a good way to budget

If you’ve ever felt like your money disappears the moment you get paid, cash stuffing might be the game-changing budgeting method you need. It’s a straightforward, hands-on approach that keeps your spending in check and helps you build better financial habits.

It creates clear spending limits

With cash stuffing, you divide your income into envelopes labeled for different expenses—like groceries, eating out, fun money, and savings. Each category gets a set amount of cash, and once an envelope is empty, spending in that category stops until the next budget cycle. This method naturally prevents overspending because you’re working with physical cash, not unlimited card swipes.

Spending feels more intentional

Handing over physical cash makes transactions feel more real. Unlike tapping a card or using Apple Pay—where money feels almost imaginary—watching your cash leave your hands makes you think twice about purchases. This increased awareness leads to more mindful spending and fewer impulse buys.

It helps you stay out of debt

Since cash stuffing is all about using money you already have, it helps break the cycle of relying on credit cards or buy-now-pay-later services. By sticking to cash, you avoid accumulating unnecessary debt and interest charges, making it easier to stay financially stable.

It makes saving money easier

Cash stuffing isn’t just for budgeting your spending—it’s also an amazing way to save. Whether you’re building an emergency fund, saving for a vacation, or working toward a down payment, setting aside cash in specific envelopes helps you see your progress in a tangible way. Watching your savings grow physically can be incredibly motivating.

A simple system that works

If traditional budgeting apps or spreadsheets have felt overwhelming, cash stuffing offers a refreshingly simple alternative. It’s a no-fuss, effective system that puts you in full control of your money, one envelope at a time.

17 Best cash envelope wallets and why they are good

Let’s take a closer look at the best cash envelope wallets available. As you pursue the list, look for a wallet that suits your needs – and your style!

Note: This section contains some affiliate links from brands we trust that help us grow Clever Girl Finance! 

1. Divvy Up The Savvy Spender

The Divvy Up cash wallet comes in black with a splash of pink on the front. When you order the wallet, you’ll receive five magnetic cash envelopes to store your cash. Inside the wallet, you’ll find two pouches to hold these envelopes. Plus, twelve card slots for any important cards.

With the removable magnetic envelopes, you have the freedom to add or remove cash categories from your wallet easily. But the removable magnetic cash envelopes add another layer to keep track of. As a $50 purchase, you should consider whether or not you would enjoy the removable cash envelopes before moving forward.

2. Sooez Budget Binder with Zipper Envelopes

Inside the affordable Sooez Budget Binder with Zipper Envelopes, you’ll have space for 12 budget envelopes. Tucked safely inside a waterproof material, you can protect your cash with this wallet.

The envelopes come in tabbed see-through plastic while the wallet is a functional black. it also has customizable stickers for the envelopes.

3. Clever Fox Cash Envelopes For Budget System

Clever Fox offers a large cash budgeting system that provides ample room for cash budgeting. Although it’s not a full wallet, you will be able to store up to 12 separate categories of cash.

The envelopes are very sturdy and come with a cute pouch to keep them together. The pouch is a classic black color, but it lacks standard wallet features such as storage space for cards. At under $20, this cash budgeting system could suit your needs with convenient portability.

4. Dave Ramsey Wallet

As one of the biggest advocates for the cash envelope system, it is fitting that Dave Ramsey offers a cash wallet option. The wallet comes in very basic colors but it offers room to hold up to 8 paper cash management envelopes. Conveniently, you can order replacement envelopes as needed.

Beyond the envelopes, you’ll find a memo pad, receipt storage, debit card slots, and your change. As one of the more affordable options at $24, this could be the right solution for your budgeting system.

5. Savvy Cents Wallet

The Savvy Cents Wallet comes in a wide variety of colors to suit your taste. Most of the options are solid colors, but few patterns are available, such as traditional plaid and eyelet options. The wallet’s vinyl fabric will keep your cash protected from the elements as you navigate your day.

Inside the wallet, you’ll find 5 separate slips with raised divider tabs to store your cash separately. Additionally, you’ll find several card slots to keep important cards safe. At $32, this wallet offers good value. But you will only have five slots to hold different cash budgeting categories.

6. Slim Budget Envelopes Wallet

If you enjoy the raised divider tabs to keep your wallet organized, then the Slim Budget envelope wallet could be a good fit. You’ll find room for 6 cash budget categories in your wallet that you can easily label.

Plus, you’ll have plenty of space to store cards and coins. The $25 wallet comes with RFID technology to protect your identity while you stick to a cash budget system.

7. Expanded Horizons Cash Envelope Wallet

The cash envelope wallet offered by Expanded Horizons offers 10 divided pouches to hold your budgeted cash. Each pouch has a label that you can fill out to match your budgeting categories.

The $30 wallet also offers 6 card slots and RFID technology to protect your information. You can bring the wallet with you as a purse or toss it into a larger bag when you need more space.

8. Mundi File Master Women’s Wallet Clutch

The Mundi File wallet offers three cash sized compartments to keep your cash budget organized. Plus, 13 card slots to keep things neat. If you like the layout, you will find a wide range of color and pattern options.

At $20, this wallet is perfect if you have a small number of cash budget categories to consider.

9. Cash Envelope System Wallet

If you are looking for a wallet that could double as a wristlet or crossbody bag, then the Cash Envelope System Wallet is a great option. Inside the wallet, you’ll have space for 12 envelopes to be stored on a binder clip. Plus, card slots to keep your cards organized.

10. Three Way Cut Store All-in-One Budget System Wallet

The Three Way Cut Store offers an affordable wallet option to store up to 12 paper cash envelopes in one wallet. You’ll find space for 12 envelopes, 12 budget sheets, and a binder ring to keep everything organized.

The envelopes included in this system are laminated to ensure that you’ll get a lot of use out of them before replacements are needed. At just over $20, the wallet is a very affordable way to give the cash budgeting system a try.

11. Bella Taylor Floral Print Cash System Wallets

Bella Taylor offers a good option if you seek a wallet with a quilted floral pattern to hold your cash budget. The wallet can hold up to 8 categories of cash with room for labels to stay organized. Additionally, you’ll have 6 card slots. The wallet is over $40. But the quilted floral patterns may be exactly what you are looking for.

12. Esprite Clear Plastic Binder Envelopes with PU Leather Notebook

Esprite offers a bare-bones approach to the cash budgeting wallet at an attractive price of $13. The wallet is essentially a small leather notebook with binder clips to contain up to 12 clear cash envelopes.

The notebook also contains two cardholder slots and a pen holder. Although this may not be the most stylish option, it could fit the bill while keeping your system extremely well organized.

13. Mou Meraki Genuine Leather Bifold

If you crave a leather wallet that can stand the test of time, then Mou Meraki offers a great option. Plus, it comes in a wide range of colors to meet your tastes. The wallet offers RFID Blocking to safeguard your identity while you are out and about.

Inside the wallet, you’ll find two large pouches that could easily fit cash envelopes. Although you will not find divider tabs to keep things organized, it could be a good fit if you have a small number of cash budget categories. At just over $25, this wallet could fit into your budget easily.

14. Rnairni All-in-One Cash Envelopes Handbag

Rnairni offers a cute cash wallet system that has space for 12 budgeting envelopes for $24. Inside, you’ll find space to hold your cash envelopes and your cards.

Plus, a pen to track your budget on convenient budget sheets. The wallet comes in 6 color options with an attractive touch on the clasp of the clutch.

15. AnconKton 12 Cash Envelope Wallet

This design from Saveyon offers a stylish look. But inside, the wallet holds up to 12 cash envelopes to organize your cash. You can find convenience and style in this $20 wallet.

16. Bella Taylor Microfiber Wrislet

Another option offered by Bella Taylor is a solid color microfiber wristlet. The wristlet has room for 8 envelope slots and 6 cards. The quilted microfiber fabric will offer a long-lasting wallet to help you manage your cash budget for a long time. On the higher end of the price range, this $50 wallet comes in black and blue.

17. All Planets Cash Envelope Wallet System

All Planets offers an affordable cash wallet for under $30. You’ll be able to store 12 plastic envelopes inside this wallet that each has unique designs. The wallet’s exterior is a standard black, but the pops of color on the envelopes can help this option stand out.

Articles related to better budgeting and saving more

If you found the article useful, check out this related content:

• How To Use The Cash Envelope System To Master Your Budget
• 20 Cash Envelope Categories For Your Cash Budget
• Save $5k With The 200 Envelope Challenge!
• How To Use A Digital Envelope System

Check out these best cash envelope wallets!

The cash envelope system can be a great way to help you get your budget on track. With a focused budgeting effort, you can make amazing progress towards your financial goals such as paying off debt or saving for retirement.

As you set up your cash envelope wallet, make sure to consider the strategies that will create a budget that works for you. Everyone’s budget will fit their unique goals and should reflect your values.

As you work with the cash budget system, don’t be afraid to make adjustments along the way. It is okay, and expected, to make adjustments to your budget as your discovery what works best for you.

The post 17 Of The Best Cash Envelope Wallets appeared first on Clever Girl Finance.

Have you been overspending and want to get back on track? Maybe you just want to boost your savings or finally break free from impulse purchases. A no spend month could be exactly what you need!

Even the most financially disciplined people have moments where they spend more than they should. Life happens—unexpected sales, social events, or just mindless scrolling that turns into an Amazon delivery at your doorstep.

But if you’ve noticed that your spending habits aren’t aligned with your financial goals, a no spend month is a powerful way to hit the reset button.

And here’s the best part—it’s not as impossible as it sounds! In fact, you may even find it fun and rewarding once you get into the mindset of spending with intention.

This guide will break down exactly how to do a no spend month successfully, what to expect, and how to make it a challenge you can actually stick to!

What is a no spend month?

A no spend month is a financial challenge where you commit to only spending money on essentials for an entire month.

That doesn’t mean you spend nothing at all—because, realistically, you still have to pay rent, buy groceries, and cover utilities. However, all non-essential spending is put on hold.

Here are some no spend month rules to follow to keep you on track and make it a success.

The basic no spend month rules

• ✅ Spend only on essentials: Rent/mortgage, food, insurance, transportation, and bills are allowed.
• ✅ Follow your existing budget: Stick to your pre-planned necessities and nothing extra.
• ✅ Use what you already have: Finish what’s in your fridge, freezer, and pantry before shopping.
• ✅ Be mindful of subscriptions: Avoid renewing or signing up for new services.
• ✅ Set a savings goal: Decide how much you want to save by the end of the month.

What to avoid during a no spend month

• 🚫 No eating out or ordering takeout.
• 🚫 No new clothes, beauty products, or gadgets.
• 🚫 No impulse purchases or retail therapy.
• 🚫 No borrowing money to spend.
• 🚫 No unnecessary Amazon or online shopping.

In addition to following the basic no spend month rules above, think about any rules that you may want to add.

For example, do you want to use your car less and walk more? Add gas to your list of no spend categories so you can complete two goals at the same time.

I did my first no spend month after a particularly bad period of mindless spending. I was constantly swiping my card for small purchases that didn’t really add value to my life—things like another scented candle, another takeout meal, another online order I thought I needed.

By the end of the month, I had saved over $500, felt in control of my spending, and realized that most of my purchases weren’t as necessary as I had convinced myself they were.

The benefits of a no spend month

A month-long financial detox can result in some fantastic personal finance benefits.

1. Stop bad spending habits

We all have spending habits that add up without us realizing it. Maybe you subscribe to too many services or have a daily coffee shop habit. A no spend month forces you to recognize these patterns and take control.

2. Boost your savings efforts

A no spend month allows you to supercharge your savings in a short period of time. By eliminating non-essential spending, you can use that money to:

• Pay off credit card debt faster
• Build your emergency fund
• Save for a large purchase
• Invest in your future financial security

3. Reduce financial stress

Impulse spending feels great in the moment, but when the credit card bill arrives, the stress can be overwhelming. A no spend month eliminates that stress by forcing you to live within your means and giving you confidence in your financial decisions.

4. Gain financial freedom

Cutting out non-essential expenses frees up cash, giving you more flexibility to save, invest, and reach your financial goals faster. It’s about shifting from mindless consumption to intentional spending.

5. Gets you back on track

We’ve all overspent and regretted it the next day, but it’s how you get your finances back on track that’s important. The very best way to do this is by putting a freeze on your spending for 30 days. You’ll catch up on the money that you overspent last month and create a healthy money mindset for the coming months.

8 tips for planning a successful no spend month

You need to set yourself up to be successful because not spending is a big challenge! Here’s what to do to get prepared:

1. Analyze your spending first

Before you begin, review your last few months of spending. Look at your bank and credit card statements to see where your money goes.

When I did this, I was shocked at how much I spent on takeout and random Amazon purchases—both areas I committed to cutting during my no spend month.

2. Set a personal, realistic monthly goal

Now that you know how much you could potentially save, it’s important to think about what you will do with the money.

To help you set a goal, consider:

• How much you want to save over the month
• What bad spending habits you need to break
• Your longer-term financial goals

Maybe your emergency fund needs a little boost. Or a balance on a credit card needs clearing before the 0% interest period.

Whatever your reason for saving, setting a monthly financial goal will make you more determined during your no spend month.

3. Tell people about it

The more people you tell about your savings challenge, the more likely you are to stick with it.

Why not ask a good friend or family member to join you in a no spend month? Not only does this keep you accountable, but they may even join you!

You can rely on the other person for support when temptation is making the challenge hard and also celebrate each other’s success. It also makes the challenge way more enjoyable.

If people know that you’re not spending money, they are likely to support you by coming up with good ideas on how to spend time together for free instead of splashing the cash on days out.

When I first did this challenge, my best friend joined in, and we kept each other motivated and accountable throughout the month.

4. Plan your meals and essentials in advance

Start by making up a list of everything that you have in your cupboards, fridge, and freezer. Then figure out what meals you can make by using the items that you already have.

Get creative, and you may find that you can significantly slash your grocery bill during your no spend month.

For any household essentials that you need to get, shop smartly. Write a list and stick to it. If you have time, it’s also worth shopping around for the best deals.

It’s a good idea to buy personal hygiene items in advance of your no spend month so you can reduce the number of essentials you need to get beforehand.

Switching to frozen fruit and veg is often a cheaper alternative to fresh and will save you money over time by eliminating waste.

You should also plan days out in advance by researching local events in your area or asking your friends and family to take turns to host an evening in.

5. Remove temptation

It’s not easy to avoid spending temptations, but there are things you can do to make it easier.

Leaving your credit and debit cards at your house and only carrying cash is a great way to spend less. If your eye catches a $30 top during a grocery shopping trip, the temptation is removed because you won’t have access to the funds to buy it.

Other things to do include:

• Unsubscribing from marketing emails
• Deleting shopping apps from your phone
• Avoiding window shopping or browsing online stores

6. Move your money

It’s easy to spend your spare cash if it’s sitting in your checking account. But if you move it to a separate savings account during your no spend month, you are less likely to give into temptation.

So transfer money out of your checking account and into a separate savings account so you’re less tempted to spend it.

Having a savings account that is aligned with your monthly saving goals is also an effective way to track your savings progress.

You can see how much you’ve saved during the month without having to go through all of the outgoings from your checking account.

7. Stay busy with free activities

Boredom leads to spending. So if you’re serious about sticking to a spending challenge, you need to find ways to keep busy that don’t involve spending money. This will stop you from missing the things that you normally spend your money on.

The good news is that there are plenty of free things to do!

Here are some ideas for some fun no spend activities:

• Have a picnic in the park
• Borrow books from the library
• Take a trip to the beach
• Host a home spa day with friends
• Try a local bike trail
• Figure out what events are taking place at your local community center
• Host a movie night
• Try a free sport such as basketball
• Cook new meals at home

It may also help to tell yourself that saving money now will allow you to do fun things in the future.

8. Look ahead and stay motivated

Saving money for the future isn’t just about retirement. The future is tomorrow. The financial decisions you make today will impact you in the short and long term.

A no spend month challenge will get you results in just 30 days. Imagine if the amount you saved during that time allows you to cut the interest on your credit card bill in half. That’s extra money that you will have going forward.

During the month, look forward to your end goal regularly and remind yourself that all your efforts will be worth it.

Expert tip: A no spend month can make you more intentional

A no spend month isn’t just about saving money—it’s about breaking bad spending habits and becoming more intentional with your financial choices. The discipline you build will carry over long after the challenge ends.

Mistakes to avoid during your no spend month

Everyone makes financial mistakes, and that’s ok. But with the right awareness and planning, you can avoid these common mistakes and make your spending challenge a success.

Mistake #1: Not having a reason or end goal

Without a goal, saving can feel pointless.

It doesn’t matter if your goal is as small as saving $50 to pay for a new pair of sneakers or as large as saving $500 to put towards your new car fund. The thing that matters is to have a goal.

Mistake #2: Failing to track your progress

Even when you’re saving over a short period of time, such as a month, it’s still crucial to regularly track your progress.

Why? Because you’ll be able to identify how close you are to meeting your no spend month goal and identify issues early on so you can make changes to get you back on track.

Mistake #3: Not thinking of the bigger picture

Giving yourself time to consider your financial future and the reasons you carefully budget and save is extremely powerful.

Most of the time, whatever is tempting you to spend money unnecessarily is not going to be as important as your end goal.

Mistake #4: Giving up on the first hard day

Saving is supposed to be tough. If you find it easy, it’s likely that you need to set yourself tougher goals.

You may find that you have moments of weakness where you buy yourself something on your banned non-essentials list.

But don’t give up. Refocus your efforts and carry on with your no spend challenge the next day.

Mistake #5: Not rewarding your efforts

During a no spend month, it’s important to recognize and celebrate your progress. Not only will it give you the motivation to carry on good financial habits once your challenge ends, but it will also encourage you to set larger financial goals.

Celebrating your success could be as simple as telling your family and friends that you met your goal, or you could spend a bit of your spare cash on something you want.

Just don’t let yourself get so tied up in your financial goals that you forget to enjoy yourself too.

Commonly asked questions about doing a no spend month

1. How much money can I realistically save in a no spend month?

The amount you save depends on your normal spending habits and how strict you are during the challenge. Some people can save a significant amont by eliminating discretionary spending on dining out, impulse purchases, entertainment, and subscriptions.

If you typically eat out several times a week or frequently shop online, the savings can add up quickly. Even if you only manage to save a couple of hundred dollars, that’s still money you wouldn’t have had otherwise. The key is to track your savings and celebrate any progress—every dollar saved is a step toward financial freedom.

2. What if I slip up and make an unnecessary purchase?

First of all, don’t be too hard on yourself! A no spend month is about progress, not perfection. If you make an unplanned purchase, take a moment to reflect on why it happened.

Was it an impulse buy? Were you feeling stressed, bored, or pressured by social situations? Understanding your triggers can help you avoid similar situations in the future.

Instead of quitting the challenge, acknowledge the mistake and refocus on your goal. Many people find that even if they slip up once or twice, they still save significantly more than they would have otherwise, making the challenge worthwhile.

3. Can I still go out with friends during a no spend month?

Yes! Socializing doesn’t have to cost money. The key is to plan free or low-cost activities instead of spending on dining out, drinks, or entertainment. Consider hosting a potluck dinner, having a game night, taking a hike, or visiting free community events.

Let your friends and family know about your no spend month challenge in advance, so they can support you and suggest budget-friendly ways to hang out. You may even inspire them to join you!

A no spend month isn’t about isolation—it’s about finding creative ways to enjoy life without unnecessary expenses.

4. How do I track my progress during a no spend month?

Tracking your progress is essential for staying motivated and seeing the impact of your efforts. There are several ways to do this:

• Keep a savings journal where you write down the amount you save each week.
• Use a savings tracker or spreadsheet to visualize your progress.
• Transfer money saved from non-spending days into a separate savings account to see the balance grow.
• Set mini-milestones, such as reaching $100, $250, or $500 in savings, and celebrate each achievement.

Seeing the tangible results of your efforts can keep you motivated and encourage you to extend mindful spending habits beyond just one month.

5. What happens after my no spend month ends?

The end of your no spend month is just the beginning of a more intentional financial mindset. Take time to reflect on what you learned—which spending habits were the hardest to break? What surprised you about your needs versus wants? How much did you save? Use these insights to make lasting changes to your financial habits.

Many people find that after a no spend month, they naturally continue spending less, realizing that many of their previous purchases weren’t necessary. Consider setting new financial goals, such as reducing impulse purchases long-term, budgeting more effectively, or continuing a modified version of the challenge where you only allow limited discretionary spending.

A no spend month is a great reset button for your finances, but the true success comes from carrying better spending habits forward.

Articles related to spending less

If you enjoyed this article, check out this related content:

• How To Stop Shopping: 11 Strategies To Succeed
• How To Stop An Impulse Purchase
• 10% Rule: Is Saving 10% Enough?
• What Is The 70-20-10 Budget?

Try a no spend month!

A no spend month is one of the most effective ways to take control of your money, reset your finances, and create better spending habits.

By following the steps in this guide, you’ll save money, feel more in control of your finances, and build long-term financial discipline.

Whether you’re looking to break free from impulse spending, pay down debt, or save for a big goal, this challenge can transform your financial mindset in just 30 days.

Are you ready to take on the challenge? Set your rules, track your progress, and start transforming your financial future today!

The post Try A No Spend Month To Reset Your Finances! appeared first on Clever Girl Finance.

Do you ever feel like your money disappears the moment you get paid? Maybe you have mounting credit card debt or an emergency fund that’s dangerously low. If you want to take control of your finances, break the cycle of overspending, and build lasting financial stability, then a low-buy year could be the perfect reset.

Many people try to cut back on spending but struggle to stick with it. Without clear guidelines and accountability, those small “just this once” purchases start adding up, and before you know it, your financial goals get pushed aside.

That’s where a low-buy year comes in. This structured approach helps you spend less, save more, and become intentional with your money—without feeling deprived.

I’ve done a low-buy year myself, and let me tell you—it was life-changing. At first, I worried I’d feel restricted, but instead, I felt empowered. I realized how much money I was wasting on impulse purchases, and by the end of the year, I had more savings, less financial stress, and a new perspective on what truly adds value to my life.

If you follow the steps in this guide, you’ll finish your low-buy year wondering where all this extra money came from (hint: it came from not shopping!).

No-buy year vs low-buy year? What’s the difference?

Both a no-buy year and a low-buy year focus on cutting unnecessary spending, but there’s a key difference:

A no-buy year

A no-buy year is the most extreme version—you commit to buying only essentials for an entire year. This means no new clothes, gadgets, books, or takeout—only necessities like food, rent, and hygiene products.

A low-buy year

A low-buy year is more flexible—you set specific spending limits and rules to control your spending while allowing some purchases.

For example, in a no-buy year, you wouldn’t buy any new clothing. In a low-buy year, you might allow yourself a $100 clothing budget for the year or one new item per season.

Personally, I found that a low-buy year was more sustainable for me. It allowed me to curb my spending without feeling like I was depriving myself completely.

Now, let’s get into how to set your low-buy rules and actually make this challenge successful.

Creating your low-buy year rules

OA low-buy year works best when you tailor the rules to your lifestyle. The more personalized and realistic your guidelines, the higher your chances of success. Here’s how to set your low-buy rules:

1. Take inventory of your spending

Start by reviewing your spending habits. Look at your last 3–6 months of bank and credit card statements to see where your money goes.

For me, I discovered that food delivery and random Amazon purchases were my biggest spending problems. I justified them by saying they were “convenient,” but in reality, I was just mindlessly swiping my card.

Your turn: Do you overspend on clothes, beauty products, coffee, takeout, or tech gadgets? Whatever it is, identify it—this will help you decide where to cut back.

2. Choose your spending categories

Now that you know where your money is going, decide which categories to limit. Some common areas people cut back on during a low-buy year include:

• Clothing: No new clothes except for absolute essentials (e.g., replacing worn-out shoes).
• Beauty products: No new makeup/skincare unless you run out of something you regularly use.
• Takeout & dining out: Set a monthly limit or eliminate it completely.
• Entertainment & impulse shopping: No unnecessary Amazon/Target purchases.
• Subscription services: Cancel any you don’t actively use.

Personal tip: I made one exception in my low-buy year—I allowed myself one takeout meal per month. This made the challenge feel sustainable while still significantly reducing my spending.

3. Anticipate future expenses

Think ahead to birthdays, holidays, and special events where you might be tempted to spend. Instead of waiting until the last minute and breaking your low-buy rules, plan ahead.

For example:

• Instead of buying expensive holiday gifts, hand-make presents or gift experiences like babysitting, pet-sitting, or home-cooked meals.
• If you normally buy a new outfit for weddings or events, consider renting, borrowing, or restyling something you already own.

I used to spend hundreds on Christmas gifts every year, but during my low-buy year, I made a rule: homemade gifts only. Not only did I save money, but my family actually loved the thoughtful, personalized presents.

4. Create simple, clear rules

This is the most important step of all. If you want to do a successful low-buy year, don’t make any of your rules overly complicated or confusing.

Make sure they are crystal clear and don’t leave you any wiggle room for extra purchases. You want to go into your low-buy year knowing exactly what you can and cannot spend money on.

How to stay successful during your low-buy year

With your rules laid out, you’re now ready to begin your low-buy year! In the beginning, it’s exciting to think of how much money you’ll save.

But, it can also be a little scary. What if it doesn’t work? What if you mess up or give up? Luckily, there are ways to guarantee a successful low-buy year, so don’t worry, you’ve got this!

1. Decide on your “why”

First, decide on your reason for doing this low-buy challenge. You’ll need the motivation to get you through the tough times when you want to cave in and just go shopping already.

Are you super motivated to get out of debt so you can move to a new apartment? Are you concerned that all of the money you’re spending on fast fashion is harming not just your wallet but the environment?

Whatever the reason, decide on your “why” for embarking on a low-buy year and turn to it whenever you need a little motivation. And then write down your reason and put it somewhere visible.

My personal “why” was wanting to build a financial cushion so I didn’t feel stressed every time an unexpected expense popped up. Keeping that goal in mind helped me resist impulse purchases.

2. Remove temptations

Do you get email after email from your favorite stores, offering discounts and showing you the latest things to hit the shelves? If so, unsubscribe from every one of these. Unsubscribe from marketing emails, unfollow brands on social media, and delete shopping apps from your phone.

Don’t worry, these places will all be around when your low-buy year is over, so you can always re-subscribe then (but you might find yourself no longer feeling the urge to online shop after the year is over!).

Likewise, if you have your credit card number memorized, cut it up and ask for a new one. Put up any roadblocks you can to prevent yourself from shopping for unnecessary things.

It could even be that your find yourself watching haul video after haul video on social media. It might be time to limit how much time you spend on social platforms and find other productive things to do.

When I removed Amazon and Sephora from my phone, I instantly stopped impulse shopping because I had to go through extra steps to make a purchase.

3. Track your progress

Create a monthly check-in to see how much money you’ve saved. Seeing those numbers grow will keep you motivated.

I kept a running tally in my notes app of the money I didn’t spend each month. At the end of the year, I had saved over $6,000 just by cutting back on unnecessary purchases.

4. Do it with a friend or partner

Get a friend, roommate, or partner on board to participate with you. Another person will help hold you accountable, encourage you, and it will be fun to do the challenge together.

If your partner doesn’t want to participate themselves, try to get them on board with your rules. This is especially important if one of your low-buy rules involves cutting back on grocery spending or other joint household expenses.

5. Start a gratitude practice

If you don’t already have one, develop a gratitude practice. A daily gratitude practice will remind you of all the things you do have and will make you less likely to feel the need to go out and spend more to feel fulfilled.

During a low-buy year, where your goal is to purchase less, limiting this urge to spend by being grateful for what you already have is a key element to success.

6. Fill your time with other things

Lastly, remind yourself of what you like to do that doesn’t involve shopping or spending money. Sometimes we use shopping to fill a void or because it gives us a rush.

But there are tons of things that are just as fun and don’t cost anything. Reading, catching up with friends, baking, watching Netflix – all of these things are almost free, and you can still enjoy them all during your low-buy year.

Expert tip: Use a low buy to get clear on your values

A low-buy year isn’t about deprivation—it’s about realigning your spending with your values. When you remove mindless spending, you create space for what truly matters, whether that’s financial freedom, experiences, or long-term security.

Alternatives to a low-buy year

If a low-buy year sounded too daunting or intimidating to you, why not start small with a low-buy quarter, low-buy month, or even low-buy week?

Sometimes it’s better to start small and build on that, especially if you’re a big spender or rely on retail therapy to soothe yourself.

By starting small, with just a low-buy week, low-buy month, or low-buy quarter, you can dip your toe into spending less without fully committing to a whole year.

These alternatives also allow you to revisit your rules, revise them, and keep going for another week, month, or quarter. Who knows, by the time you end your first short challenge, you might be ready to go all-in on an entire low-buy year!

Questions commonly asked about doing a low-buy year

1. Can I still buy things during a low-buy year?

Yes! A low-buy year is not about completely cutting out all spending but rather being intentional about what you purchase. Unlike a no-buy year, which eliminates all non-essential purchases, a low-buy year allows for some spending—but within predetermined limits.

The key is to set clear and realistic rules that align with your financial goals. For example, you might allow yourself to replace worn-out essentials (such as shoes or a winter coat), buy pre-planned items within a set budget (such as $100 for new clothes for the entire year), or spend on experiences rather than material things (such as travel or special occasions). The goal is not to feel deprived but to eliminate impulse shopping and ensure your money is being used in ways that truly benefit you.

2. How much money can I save with a low-buy year?

The amount you save will depend on your current spending habits and how strict your low-buy rules are. Some people save thousand dollars by significantly reducing discretionary spending.

For example, if you typically spend $250 per month on takeout, cutting that back to just one meal per month could save you $2,500+ per year. Similarly, if you limit clothing purchases and only replace necessary items, you could easily save $1,000 or more over the year. By tracking your spending and sticking to your rules, you’ll start seeing real financial progress and gain a new appreciation for mindful spending.

3. What if I break a rule?

Nobody is perfect, and breaking a rule doesn’t mean you’ve failed. A low-buy year is about progress, not perfection. If you find yourself making an unplanned purchase, acknowledge it, assess why it happened, and adjust your approach moving forward.

One helpful strategy is to identify your spending triggers. Did you shop out of boredom? Was it an emotional purchase? By recognizing patterns, you can develop better habits. If you slip up, don’t give up on the challenge—just get back on track. The most important thing is that you’re making conscious financial decisions and learning from the process.

4. Can I do a shorter version instead of a whole year?

Absolutely! If a full year feels overwhelming, you can start with a low-buy month, quarter, or even a six-month challenge. A shorter timeframe allows you to test the waters and adjust your rules before committing to a full year.

Many people start with a low-buy month and extend it once they see how much money they save and how much their spending mindset shifts. You can also experiment with specific low-buy categories—for example, committing to a no new clothing rule for three months before expanding it to other areas. By starting small, you’ll build confidence and see firsthand how reducing unnecessary spending benefits your finances and overall well-being.

Articles related to spending less

If you enjoyed this article, check out this related content:

• 21 Realistic Ways For How To Save Money Fast!
• 35 Productive Things To Do Instead Of Spending Money
• 10% Rule: Is Saving 10% Enough?
• What Is The 70-20-10 Budget?

Are you ready to give a low-buy year (or week, month, or quarter) a try?

A low-buy year is a powerful way to take control of your spending and reset your financial habits. Whether you commit for a month, a year, or somewhere in between, the key is making mindful decisions about where your money goes. The more intentional you are, the greater your financial progress will be.

The post How To Succeed At A Low Buy Year And Transform Your Finances appeared first on Clever Girl Finance.

Have you ever wondered if it’s possible to save $100,000 in just a few years—without earning a six-figure salary? I’m here to tell you that it is! In this post, I’ll share my personal money story and break down exactly how I was able to save over $100,000 in a little over three years, starting with a modest salary.

I’m sharing these money-saving strategies not just to highlight my own journey but to inspire and empower you to achieve your own financial goals. Whether you’re aiming to hit the $100k milestone or simply looking for ways to save more effectively, I hope my experiences and tips will serve as motivation.

Why my story matters to you

Many people assume that saving six figures requires earning six figures, but that’s not always the case. I started with a $54,000 salary ($40,000 after taxes) and worked my way up. I didn’t come from wealth, didn’t have an inheritance, and didn’t rely on a partner’s income—I did this completely on my own. Through a combination of strategic saving, smart investing, and disciplined spending, I was able to build my savings account beyond what I initially thought possible.

So, if you’ve been wondering:

• How can I save $100,000 in a few years?
• Is it realistic to save $100k on an average income?
• What steps should I take to reach my savings goals?

You’re in the right place. I’ll break down the exact steps I took—including maximizing my income, cutting expenses, investing wisely, and even starting a profitable side hustle—so you can create your own roadmap to financial success.

The beginning of my journey: How I started saving $100k

As mentioned, when I graduated from college, I landed my first full-time job with a starting salary of $54,000—which, after taxes, worked out to about $40,000 per year. At the time, I was just excited to have a steady paycheck. Saving a large amount of money wasn’t something I had initially planned for, but as I started learning more about personal finance, I realized that reaching a six-figure savings goal was possible with the right strategy and discipline.

Just three and a half years later, I had over $100,000 saved. Hitting this significant financial milestone was a game-changer for me—it reinforced the idea that financial independence wasn’t just for high earners. It was about being intentional with my money, making smart decisions, and staying consistent.

What worked in my favor

While I firmly believe that anyone can implement smart saving strategies, I also recognize that I had a few advantages that helped me reach my goal faster:

I was fortunate enough to have no student loans: Thanks to my incredibly hardworking mother (who paid my college tuition in cash), partial scholarships and campus jobs, I graduated debt-free. This allowed me to focus on building savings instead of paying off loans.

I had a good starting salary: Earning $40,000 after taxes was a solid income for a recent college graduate, giving me room to save while still covering my basic expenses.

My salary grew over time: I received a raise, a bonus, and a promotion each year, increasing my salary to $74,000 ($52,000 after taxes) by the end of 3.5 years. While not a six-figure salary, the steady income growth helped accelerate my savings.

What really matters

Even though I had these advantages, what truly made the difference was my commitment to saving and managing my money wisely. I built habits that ensured I saved a significant portion of every paycheck, regardless of how much I was making:

I saved this money entirely on my own. No inheritance, no financial help from a partner, and no windfall.
I was single with no kids and lived on one income. There was no second paycheck contributing to my household.
I did it without earning six figures. A high salary is helpful, but disciplined saving habits matter more.

How I saved $100k in 3 years: My key strategies

Now that you have some background of my financial journey, let’s dive into the specific money-saving strategies that helped me reach $100,000 in savings in just 3.5 years. These are practical, repeatable steps that anyone can apply to their own financial goals.

1. I Contributed to My 401(k) and took full advantage of my employer match

When I first started working, I had no idea what a 401(k) was or why I needed one. All I knew was that my employer was offering free money through a 401(k) match, and I wasn’t about to leave that on the table.

How I maximized my 401(k) contributions

At the time, my employer matched 100% of the first 6% of pre-tax dollars that I contributed. I started contributing immediately and worked my way up to saving ~15% of my salary.

Over 3.5 years, my contributions, combined with employer matching and stock market growth, added up to about $40,000 in my retirement account.

This was also before a major U.S. recession, so the stock market was performing well, and my investments grew over time. Even though I didn’t max out my 401(k), consistently contributing from the beginning made a huge difference.

What you can learn from this strategy

• Start investing as early as possible: Time in the market matters more than timing the market.
• If your employer offers a match, take it: It’s literally free money that helps you build wealth faster.
• Increase your contributions over time: If maxing out isn’t feasible right away, start small and increase by 1% each quarter or every time you get a raise.

Clever Girl Tip: Investing is a key part of saving money for the long term. If you have access to a 401(k), Individual Retirement Account (IRA), or another retirement plan, start contributing as soon as possible—even if it’s just a small amount. Your future self will thank you.

Want to learn more about investing? Check out my book: Learn How Investing Works, Grow Your Money!

2. I kept my expenses low

One of the most important things I did to reach my $100k savings goal was keeping my expenses as low as possible. Many people focus only on increasing their income, but if you don’t control your spending, it doesn’t matter how much you make—you’ll always feel like you don’t have enough.

After taxes, 401(k) contributions, and other deductions, I had to be strategic with how I managed the rest of my income. My main expenses included my used car payment ($150 at first, then $300 when I upgraded my car), car insurance ($80), and my mortgage ($900). By keeping my housing and transportation costs manageable, I freed up more money to save.

For the first six months after college, I lived at home, which helped me build an initial savings cushion. Once I moved into my own place, I continued to keep costs low by being mindful of my spending and avoided lifestyle inflation AKA lifestyle creep. I rarely ate out, my grocery bill was minimal since I wasn’t cooking much, and I didn’t splurge on alcohol or expensive entertainment. Many of my work lunches were reimbursed due to my frequent travel, and I lived close to my office, so gas expenses were low.

I also avoided expensive shopping habits. While I did allow myself some fun money to plan a vacation and to shop occasionally, I didn’t have any costly hobbies or luxury spending habits at that time. My utility bills, internet, and phone expenses were around $170 combined each month, which I considered reasonable.

What you can learn from this strategy

Keeping expenses low is one of the fastest ways to accelerate your savings. Even if you don’t make a high salary, how much you keep matters more than how much you earn. If you can reduce your living costs maintain a standard of living, you’ll have more room to save:

• Consider living with family or getting roommates temporarily if possible to jumpstart your savings.
• Reduce food expenses by meal prepping, cooking at home, and limiting takeout.
• Cut unnecessary subscriptions and negotiate bills like internet and insurance.
• Avoid lifestyle inflation—just because you get a raise doesn’t mean you need to increase your spending.

Clever Girl Tip: If your goal is to save a significant amount of money, reducing expenses should be one of your first areas of focus. Try living close to work to save on commuting costs, pack your lunches, and cut out unnecessary spending (stick to your necessities). Even small savings add up over time and can make a huge difference in your financial progress.

3. I focused on saving 40% to 50% of each paycheck and anything extra

Reducing expenses was just one part of my strategy—what really helped me build savings quickly was committing to saving a large percentage of my income while I was able to. From the very beginning, I aimed to save 40% to 50% of each paycheck, plus any extra money I received.

After taxes, 401(k) contributions, and deductions, my take-home pay during my first year was around $1,350 to $1,400 per paycheck. I made it a goal to put aside $500 to $700 per paycheck into savings. Since I kept my expenses low, this wasn’t difficult to do, and over time, it became a habit.

Beyond my regular savings, I made sure to save all my annual bonuses (which, after taxes, came to about $1,500 in the early years). I also saved a large portion of my tax refunds instead of spending them.

By being consistent, I was able to save around $18,000 per year in cash from my full-time job. By the end of 3.5 years, I had over $50,000 saved in cash savings (in high-yield savings accounts, a lot of which I would later invest), which was a huge part of my $100k milestone.

What you can learn from this strategy

A big savings goal requires an intentional plan to put money aside regularly. It’s not just about cutting expenses—it’s about deciding to save first and then adjusting your spending around that decision.

• Set a specific savings percentage of your income and stick to it.
• Automate savings so the money moves to a separate account before you have a chance to spend it.
• Save unexpected income like bonuses, tax refunds, and cash gifts instead of treating them as extra spending money.
• If you get a raise, increase your savings percentage before adjusting your lifestyle.

Clever Girl Tip: When it comes to how to save $100k, it’s not just about lowering expenses but being proactive about saving. I made saving non-negotiable by setting up automatic transfers into my my high-interest savings account. By treating savings like a bill I had to pay, I never had to rely on willpower alone.

4. I started a side hustle

One of the biggest boosts to my savings was starting a side hustle. While saving from my full-time job helped me build a strong foundation, my side business accelerated my progress and pushed me over the $100k mark.

In my second year of saving, I developed a passion for photography. What started as a hobby quickly turned into a profitable lifestyle and wedding photography business. To get started, I used some of my savings to invest in an entry-level DSLR camera. I spent time studying my craft, doing free shoots to build my portfolio, and learning from more experienced photographers.

As my skills improved, I began booking paid gigs, and within a few months, my business started growing. I networked with photographers who let me second shoot for them, which led to referrals and more paid work.

By the end of my first year, I had earned around $10,000 from my side business. By my second year, that number had jumped to $30,000, and in the following years, I earned even more. While it required hard work and dedication, my side hustle played a key role in reaching my savings goal.

You can check out my book, The Side Hustle Guide, for all my best tips and advice on building a successful side hustle.

What I did with my side hustle money

I used my side hustle income in three key ways:

1. I reinvested in my business: I upgraded my camera gear, lighting, and equipment to increase the quality of my work. I also took online courses to improve my photography and marketing skills.
2. I saved a large portion of my earnings: This extra income allowed me to increase my cash savings and invest more aggressively.
3. I indulged in a few splurges: I won’t lie, I had a handbag obsession for a while! I later sold many of them, but looking back, I know I could have saved even more if I had been more disciplined with my side hustle earnings.

If you want to increase your savings rate, consider starting a side hustle. Earning extra income—even a few hundred dollars a month—can significantly speed up your savings.

• Choose a side hustle that aligns with your skills or interests to keep you motivated.
• Start small, but be consistent—a few hours a week can add up over time.
• Reinvest in your business wisely, but don’t forget to prioritize saving a portion of your earnings.
• Use side hustle income to pay down debt, boost savings, or invest for the long term.

Clever Girl Tip: A side hustle can be a game-changer for your finances, but only if you manage the extra income wisely. Instead of increasing your spending, use your side hustle earnings to fund your financial goals. It can be the key to reaching your savings goals even faster.

5. I spent money on credit but I was smart about it

Even though I was focused on saving, I still used credit cards—but I made sure to do so strategically. Instead of racking up unnecessary debt, I used credit as a tool to build my credit history, earn rewards, and manage expenses responsibly.

One of the key ways I controlled my credit use was by primarily using a charge card rather than a traditional credit card. A charge card, like the American Express Gold, requires you to pay your balance in full every month, preventing me from carrying high-interest debt.

I was required to have a charge card for work-related travel expenses, and I figured, why not get one for myself too? While I did make a few mistakes early on—spending a little more than I should have at times—the charge card helped me develop strong financial discipline because I had to pay it off in full each billing cycle.

How I used credit wisely

1. I avoided carrying a balance: I paid off my charge card in full every month, which helped me build a strong credit history without accumulating interest.
2. I tracked my spending: By reviewing my statements regularly, I ensured I was staying within my budget and not overspending.
3. I used credit for necessary expenses: I charged work-related travel costs and everyday expenses but always had the cash to pay them off immediately.
4. I monitored my credit score: I checked my credit reports regularly to stay on top of my financial health and ensure there were no errors or fraudulent activity.

Using credit doesn’t have to be bad—if used wisely, it can be a helpful financial tool. The key is controlling your spending and making sure you can pay off your balance in full each month.

• Consider using a charge card instead of a traditional credit card to avoid carrying a balance.
• Always pay your credit card in full to avoid interest charges and debt accumulation.
• Monitor your credit score and credit history to ensure accuracy and protect your financial reputation.
• Use credit for strategic purchases—not for lifestyle inflation or impulse spending.

Clever Girl Tip: No matter what kind of credit you use, always stay on top of your credit report—errors and fraud can affect your ability to get loans, rent an apartment, or even get a job.

Expert tip: It’s about what you keep

The biggest factor in reaching a high savings goal isn’t how much you make—it’s how much you keep. Automating savings, keeping expenses low, and making strategic financial choices will help you build wealth faster than you think.

Commonly asked questions about my $100k savings journey

Is it realistic to save $100k in 3 years?

Yes, but it depends on your income, expenses, and commitment to saving. If you maximize your earnings, keep expenses low, and invest strategically, it’s achievable—even without a six-figure salary.

Can you save $100k without a high income?

Absolutely. My story proves that you don’t need to earn a massive salary to save a substantial amount—you just need to be intentional with how you save, spend, and invest. The key is to start where you are, focus on what you can control, and build momentum over time.

I also want to highlight that self-education played a huge role in my success. Reading personal finance books, learning from experts, and understanding basic investing concepts completely changed how I approached money. That’s why I later wrote my own book series, starting with Clever Girl Finance: Ditch Debt, Save Money & Build Real Wealth—the guide I wish I had at the beginning of my journey.

Should I invest or keep my savings in cash?

A mix of both is ideal. Keep an emergency fund in cash but invest the rest in retirement accounts (401k, IRA) or brokerage accounts to grow your money over time.

What’s the biggest mistake people make when trying to save?

Lifestyle inflation—when you increase spending as your income grows instead of saving the extra money. Avoid this trap by prioritizing saving and investing first before adjusting your lifestyle.

Articles related to saving and earning more money

If you enjoyed this article on how I saved $100k, check out this related content:

• How To Save For Retirement In Your 20s
• How Many Bank Accounts Should I Have?
• 45 Side Hustles For Women That Make Real Money
• How To Start A Side Hustle In 10 Steps

You can save $100,000

These are the exact steps I took to save $100,000 in 3 years, and if I could do it, so can you. While everyone’s financial situation is different, the key takeaway is that saving a significant amount of money is possible with the right mindset, strategy, and consistency.

Even if you’re not in a position to save $100k right now, don’t be discouraged. Maybe you have student loans, credit card debt, or family obligations that make saving difficult. That doesn’t mean you can’t start where you are and work toward a major savings goal over time. Whether you’re saving for a house down payment, financial independence, or just building a solid emergency fund, every single dollar counts.

Remember to:

1. Assess your current financial situation: Take a deep dive into your income, expenses, and debt. Understanding where you stand is the first step to making progress.
2. Set a realistic savings target: If $100k feels overwhelming, start with $10k, then work your way up. Small wins build momentum.
3. Create a saving strategy: Whether it’s cutting expenses, increasing income, or automating savings, make a plan that fits your lifestyle.
4. Stay consistent and patient: Saving money takes time, but staying focused on your goal will lead to real progress.
5. Invest in your financial education: Learning about money management, investing, and wealth-building will help you make smarter decisions.

I know from experience that adjusting your mindset is just as important as the money-saving tactics themselves. Instead of thinking about what you can’t afford or can’t do, shift your focus to what you can control—your spending habits, your income potential, and your long-term goals.

The post How To Save $100K: I Did It In 3 Years appeared first on Clever Girl Finance.

If someone asked what your money values were, would you know how to answer? Or would you find yourself searching for a response and coming up blank?

Our values are a key part of who we are, yet we often don’t take the time to intentionally think about, define, and understand them—especially when it comes to money.

For anyone looking to transform their relationship with finances, figuring out your money principles is a great first step. Let’s explore what money values are, why they’re essential, and how to identify and live by them.

What are money values?

In short, money values are the beliefs and principles that shape your relationship with money, whether consciously or unconsciously. They represent your “why” when it comes to financial decisions—why you save, spend, invest, or give the way you do.

Your money values influence the decisions you make about budgeting, saving, investing, and even giving. When you align your financial choices with these values, your life feels more intentional and fulfilling.

When I first started thinking about my money values, I realized I’d been living by some subconscious habits without ever questioning them. For example, I had a habit of saving aggressively—sometimes to the point of guilt when I spent money on myself. Growing up, my parents often talked about the importance of saving for a rainy day, and I internalized that deeply.

But as I reflected on my values, I realized that while I value security, I also value experiences and self-care. I didn’t want to reach the end of my life with a big savings account but very few memories of enjoying the journey. That realization encouraged me to create a “fun fund” in my budget, so I could treat myself to experiences without guilt.

By aligning my spending with my values, I felt a greater sense of balance and purpose in my financial decisions. It wasn’t just about saving for the future anymore—it was about living a fulfilling life now, too.

Examples of money values

Here are some common money values and how they might show up in your life:

Generosity

You prioritize giving back to others, whether through charitable donations, helping family members, or volunteering.

Freedom

Financial independence is a top priority, enabling you to make choices free from financial constraints.

Security

You value stability, building an emergency fund, and creating a safety net for yourself and your loved ones.

Impact

You aim to make a difference through your financial decisions, leaving a legacy or supporting causes you care about.

Experiences

You’re happy to spend money on travel, events, or hobbies that bring joy and create lasting memories.

Self-Care

Allocating money for your well-being, like therapy, fitness, or personal development, reflects the value you place on self-care.

Simplicity

Minimalist spending habits and living within your means reflect a desire for simplicity and peace of mind.

Why Are money values important?

Money values are crucial because they influence all your financial decisions, whether you realize it or not. When your financial actions align with your values, you gain clarity, purpose, and peace of mind. However, if your spending or saving habits conflict with your core beliefs, you may feel regret, confusion, or dissatisfaction.

Here’s why understanding your money values matters:

• Improved Decision-Making: You’ll make financial choices that feel right for you and align with your goals.
• Avoiding Regret: When your spending reflects your values, you’re less likely to experience buyer’s remorse.
• Goal Alignment: Your values give your financial goals a deeper purpose, making them easier to achieve.
• Decreased Stress: Living in alignment with your values brings a sense of control and reduces financial anxiety.

7 Steps to discovering your money values

If you’re ready to explore your money values, here are seven actionable steps to guide you.

1. Reflect on your early money beliefs

Your childhood experiences often shape your foundational attitudes toward money, even if you’re not fully aware of it. 

Think back to the financial lessons you learned growing up. Were your parents or guardians savers, spenders, or somewhere in between? Did they openly discuss finances, or was money a taboo subject in your household?

These formative experiences play a crucial role in shaping your inherited money values—whether they align with your current beliefs or not.

2. Identify how money impacts your life

Money touches nearly every aspect of our lives, often in ways we don’t immediately recognize. Taking the time to reflect on how money influences various areas of your life helps you connect your financial decisions to their deeper purposes. Start by considering key categories and how finances play a role in each.

For instance, in health, money enables you to afford nutritious food, fitness memberships, and necessary healthcare services. It’s not just about paying bills; it’s about ensuring your physical and mental well-being. When it comes to family, money might provide stability, support loved ones, or build generational wealth to secure a better future for your children.

In your career, financial considerations often guide decisions such as accepting a job offer, pursuing higher education, or starting your own business. Similarly, your lifestyle is shaped by your financial habits, from finding a balance between frugality and enjoyment to indulging in experiences that bring joy, like travel or hobbies.

Creating this list helps you see the bigger picture—money isn’t just numbers in a bank account. It’s a tool that supports your priorities and values in tangible ways. 

3. Set financial goals

Once you’ve identified how money impacts your life, the next step is to set goals that reflect your money values in action. Financial goals give structure and direction to your decisions, helping you turn abstract values into concrete outcomes.

Start with short-term goals, such as building an emergency fund or paying off high-interest debt. These goals provide a foundation of security and stability, ensuring you can handle unexpected expenses or reduce financial stress. For instance, setting aside three to six months’ worth of living expenses in an emergency fund is a practical way to align with the value of security.

Next, focus on long-term goals that align with your bigger dreams and aspirations. This could include saving for a down payment on a home, contributing to retirement accounts, or growing an investment portfolio. 

Remember, effective goals are specific, measurable, achievable, relevant, and time-bound (SMART). Instead of saying, “I want to save money,” set a goal like, “I will save $10,000 in the next 12 months for a down payment.” Clear goals help you stay focused, track progress, and celebrate milestones along the way.

4. Align your money values with your personal ethics

Your personal ethics—what you believe is meaningful and important—are deeply connected to your money values. These guiding principles shape your decisions and influence how you handle finances. By aligning your money values with your ethics, you create a financial plan that reflects who you truly are and what matters most.

Start by identifying your core values. Ask yourself: What traits define me? What causes am I passionate about? For example, compassion, ambition, adventure, integrity, or sustainability may stand out. These principles can inform your financial priorities and decisions.

If you value compassion, you might prioritize generosity through donations or helping others. If ambition drives you, your focus could be on wealth-building or professional development. Similarly, valuing adventure might lead you to allocate funds for travel and meaningful experiences.

Aligning ethics with actions brings consistency to your money habits. For instance, if integrity is key, you might support ethical brands or invest in socially responsible funds.

Finally, connect these values to specific financial goals. If you value adventure, save for a dream trip. If you value integrity, shift your portfolio toward ethical investments. 

5. Determine your priorities

You can’t focus on everything at once, so it’s essential to clarify which values and goals matter most to you right now. Start by reflecting on what brings you the most fulfillment and aligns with your current stage of life.

For instance, if freedom is your top priority, you might focus on paying off high-interest debt, building an emergency fund, or investing for early retirement. On the other hand, if family is your main value, you might direct more resources toward creating financial stability, funding your children’s education, or building generational wealth.

To determine your priorities, rank your values and goals by importance and urgency. Ask yourself: What do I need to focus on in the short term to improve my financial situation? What goals will have the greatest impact on my overall well-being? 

Remember, your priorities may shift over time, so revisit them periodically to ensure they still align with your evolving values.

6. Revisit your values regularly

Your money values aren’t set in stone—they can evolve as you grow and navigate new life stages. For example, early in your career, you might prioritize ambition and financial independence, while later, family or giving back may take precedence. That’s why it’s important to make reviewing your values a regular habit.

Consider setting aside time once a year, perhaps during the New Year or your birthday, to reflect on your financial journey.

Ask yourself: Are my current financial choices still aligned with what I value most? Have recent experiences or changes in my life caused me to rethink my priorities?

This regular check-in allows you to adjust your financial plan as needed. If your values have changed, update your goals and strategies to reflect your new priorities. 

7. Take action

Identifying your money values is only the first step—the real transformation happens when you put them into practice. Start by aligning your financial habits with your values.

For example, if generosity is important to you, set up a dedicated budget for charitable giving or volunteer your time to causes you care about. If security is your priority, focus on building an emergency fund or increasing your retirement contributions.

Actionable steps like creating a budget, automating savings, or cutting unnecessary expenses can help you live out your financial principles in tangible ways. Break down larger goals into smaller, manageable actions to make progress easier.

Consistency is key. Regularly track your progress and celebrate milestones along the way. This not only keeps you motivated but also reinforces the connection between your values and your financial decisions. 

Expert tip: Set reminders to revisit your money values

Regularly revisit your money values and goals—at least once a year or during major life changes. This practice ensures your financial decisions remain aligned with your evolving priorities and helps you stay intentional about building a life that reflects what truly matters to you.

FAQs about money values

1. How do I know if I’m living according to my money values?

Start by reviewing your recent financial decisions and asking yourself a few key questions:

• Do your spending habits reflect what you care about most?
• Are you allocating money to things that truly bring you joy or align with your long-term vision?
• Are there recurring expenses or impulsive purchases that don’t feel meaningful or necessary?

For example, if one of your money values is financial security, check whether you’re actively building an emergency fund or contributing to retirement savings. If your value is generosity, are you giving to causes or helping others in ways that feel satisfying?

If your actions aren’t aligning with your values, don’t be discouraged—this awareness is the first step to making positive changes. Create a plan to adjust your spending and saving habits to better reflect your priorities.

2. What if my money values conflict with my partner’s?

Conflicting money values are common in relationships, but they don’t have to be a dealbreaker. Open and honest communication is key. Schedule time to talk about your values and financial goals in a calm, non-judgmental setting.

Start by sharing why specific money values are important to you. For example, if you value saving for the future while your partner values enjoying the present, you might find a compromise where you save a set amount each month while also budgeting for fun activities.

Consider creating shared goals that combine your values, like saving for a vacation (short-term enjoyment) while contributing to a retirement account (long-term security). Working with a financial advisor or counselor can also help you align your financial journey as a couple.

3. Can money values change over time?

Absolutely! Money values often evolve as your life circumstances, goals, and priorities shift. For example, in your 20s, you might prioritize career advancement and financial independence, but as you start a family, security and stability may become more important.

Major life events—like getting married, buying a home, or retiring—can also trigger changes in your values. That’s why it’s a good idea to reassess your money values periodically, perhaps once a year or whenever you experience a significant life change.

Reevaluating your values ensures that your financial decisions stay aligned with the person you’re becoming and the life you want to build.

4. What’s the difference between money values and financial goals?

Money values are your guiding principles—your “why.” They represent the underlying beliefs that drive your financial behavior, such as valuing freedom, security, or generosity.

Financial goals, on the other hand, are the actionable steps or milestones you aim to achieve, such as:

• Saving $20,000 for a house down payment.
• Paying off $10,000 of credit card debt in 12 months.
• Contributing $5,000 to your retirement account this year.

Think of it this way: Your money values are the foundation, and your financial goals are the building blocks you create on top of that foundation. For example, if you value generosity, one of your financial goals might be to set aside 10% of your income for charitable giving.

Aligning your financial goals with your money values helps ensure that your actions are purposeful and fulfilling.

Articles related to money values

If you found this article on defining your money values helpful, check out this related content:

• 12 Steps For Creating The Life You Love
• Why Do I Feel Guilty After Spending Money?
• How To Clearly Define Your Priorities In Life

Start living in line with your money values today!

Understanding and defining your money values is a powerful step toward creating a life that aligns with your principles. By reflecting on your past, clarifying your priorities, and setting meaningful goals, you’ll build a healthier, more intentional relationship with money.

Remember, your money values are unique to you—there’s no right or wrong answer. What matters is that they guide you toward a fulfilling and purpose-driven financial journey.

The post 7 Steps to Define and Align Your Money Values for Success appeared first on Clever Girl Finance.

Bringing home one baby is a life-changing event, but bringing home two? It’s double the love, double the joy, and—let’s be honest—double the expenses. When I found out I was having twins, I wasn’t sure what to expect financially. I knew that babies were expensive, but two at once? That felt overwhelming. However, through trial and error, I found ways to make budgeting for twins manageable without sacrificing what my babies needed.

If you’re wondering how to save money with twins or looking for affordable twin parenting tips, you’re in the right place. Here are my tried-and-true strategies as a mom of twins!

1. Join warehouse clubs for bulk savings

One of the first moves I made as a twin mom was joining Costco. It was a game-changer for buying diapers, wipes, and formula in bulk. With twins, you’ll go through these essentials faster than you can imagine, and buying in bulk significantly cuts costs per unit.

Don’t forget to compare warehouse prices to other stores during sales. Sometimes, stacking coupons on a sale can beat bulk prices and save you a lot of money. Always do the math to maximize savings!

2. Ask for samples at the Pediatrician’s office

This might feel awkward at first, but it’s worth it. During our pediatric visits, I started asking if they had any baby products, diaper, or baby wipe samples. To my surprise, they often did! Many pediatricians receive promotional products from baby brands and are happy to share them with parents.

These samples were lifesavers, especially when we were transitioning formulas to find the best fit for our babies. Plus, the free packs meant fewer trips to the store.

3. Become a coupon hunter

Before I had twins, I was never much of a coupon person, but parenthood changed that! I learned to embrace couponing and found great deals on baby essentials, baby food and more. I signed up for newsletters from baby brands like Pampers, Huggies, and Similac to receive coupons directly in my inbox. I also joined parenting forums and apps that share deal alerts and coupon codes.

You can combine manufacturer coupons with store promotions for maximum savings. Additonally, apps like Ibotta can also give you cashback on baby items you’re already buying.

4. Use hand-me-downs and preowned items

With twins, you might feel the need to buy two of everything, but trust me, you don’t always have to. I was lucky enough to receive hand-me-down clothes and toys from friends and family. For larger items, like cribs and strollers, I checked out local parenting groups on Facebook for preowned or like-new options at a fraction of the retail price.

You can find things like a double stroller, bouncers and walkers in excellent condition for half the price by shopping secondhand. It’s worth the search!

5. Plan ahead for bigger expenses

One of the best things you can do when budgeting for twins is to plan ahead for larger purchases, like convertible car seats, high chairs, or a food processor. I researched these items early and waited for holiday sales like Black Friday or end-of-season clearances.

Plan to set aside a small portion of your budget each month for these bigger expenses so it doesn’t feel like a massive hit to your wallet all at once.

6. Leverage rewards programs

Many baby name brands and stores offer rewards programs that help you save money over time. I signed up for loyalty programs at major retailers and tracked points on every purchase. Some brands also offer perks for parents of multiples—so don’t hesitate to reach out to their customer service teams and ask.

For instance, the Pampers Rewards app will allow you to redeem points for gift cards and baby gear just by scanning diaper codes.

7. Cook at home and meal prep

With twins, the temptation to order takeout when you’re tired is real, but it adds up fast. I got into meal prepping to save time and money. By batch-cooking meals on weekends (including my own baby food) when I had help, I made sure we always had something quick and healthy ready to eat.

Slow cooker recipes are a great go-to. You can prep them in the morning and have dinner ready by the evening with minimal effort.

8. Don’t buy everything at once

It’s tempting to stock up on every baby product under the sun, but I quickly learned that less is more especiall when budgeting for twins. Babies grow out of things fast, and some items you think you’ll need may not get much use.

Personally, I focused on buying just the essentials upfront, like diapers, a safe sleep setup, and feeding supplies. I added other items later as needed, which helped spread out the costs.

Also if you plan to have a baby shower, you’ll get a lot of what you need for the first few months from there. My advise would be to prioritize adding the core essentials and big ticket items in your gift registry e.g. diapers, wipes, monitors, double stroller, etc.

9. Join a twin parent community

Connecting with other parents of twins was one of the most valuable steps I took. Online groups and local meetups were great resources for sharing budgeting advice, finding deals, and even swapping baby gear.

These communities also offered emotional support, which was just as important as the financial tips.

10. Accept free help from trusted family and friends

One of the best pieces of advice I can give is to lean on your trusted network of family and friends. When I had my twins, I quickly realized that people genuinely want to help—they just need to know how. 

Whether it’s child care for an hour so you can rest, dropping off a meal, or gifting gently used baby items, accepting help can make a world of difference financially and emotionally.

I let close family and friends know about specific ways they could help. For example, I asked a friend who loves to cook if they could make me something to put in the freezer. My mom offered to pick up groceries while running her errands, and my sister-in-law passed down baby clothes her kids had outgrown. These small acts saved us time and money while helping us feel supported.

So don’t hesitate to create a wish list of items or tasks for friends and family who want to help. It makes it easier for them to give in a way that’s genuinely useful to you.

11. Maximize your health insurance benefits

Health insurance can be a huge help when it comes to managing the medical costs of raising twins. From prenatal care to routine checkups, understanding your insurance coverage and taking full advantage of it can save you thousands of dollars.

Before my twins were born, I called my insurance provider to understand what was covered, including hospital delivery costs, well-baby visits, immunizations, and any potential specialist care. I also made sure to add my twins to my insurance plan within the required timeframe after their birth to avoid any gaps in coverage.

Additional tips on health insurance for your twins:

• Choose in-network providers: Always confirm that your pediatrician and specialists are in-network to avoid unexpected out-of-pocket expenses.
• Ask for discounts: Some hospitals offer payment plans or discounts if you pay upfront. It doesn’t hurt to ask!
• Review your bills: After every visit or procedure, double-check your medical bills for errors. Billing mistakes happen more often than you think, and catching them can save you money.

By staying proactive with your health insurance, you can better manage medical costs and keep your budget on track. Twins might mean double the doctor visits, but it doesn’t have to mean double the stress!

Expert tip: Create a detailed monthly budget specifically for your twins’ needs

Include categories for diapers, formula, clothing, and medical expenses. Track every expense during the first few months to identify patterns and adjust your budget accordingly. This proactive approach helps you stay on top of costs and avoid surprises.

Commonly asked questions about budgeting for twins

1. How much does it cost to raise twins?

Raising twins can be expensive, but costs vary depending on your location, lifestyle, and spending habits. On average, it can cost anywhere from $800–$2,000 per month in the first year, including child care, diapers, formula, clothing, and medical expenses. However, using cost-saving strategies like buying in bulk, couponing, and accepting gifted items can significantly reduce this amount.

2. What are the best ways to save money on diapers for twins?

The best ways to save on diapers for twins include:

• Buying in bulk at warehouse clubs like Costco or Sam’s Club.
• Signing up for rewards programs from brands like Pampers and Huggies.
• Using apps like Ibotta for cashback.
• Asking your pediatrician for free samples.
• Watching for sales and combining them with manufacturer coupons.

3. How can I manage childcare costs with twins?

Childcare is one of the biggest expenses for parents of twins. To reduce costs:

• Look into family or friend babysitting swaps.
• Consider hiring a nanny who offers discounts for twins compared to daycare centers.
• Check if your employer offers a Dependent Care Flexible Spending Account (DCFSA) to save on childcare costs using pre-tax dollars.
• Explore local or state programs that provide childcare subsidies.

4. What are the must-have items for raising twins?

Not every baby item needs to be doubled. Focus on these essentials:

• Two car seats (required by law).
• A twin stroller.
• Diapers, wipes, and formula in bulk.
• A safe sleep setup, like cribs or bassinets. For other items like toys and clothing, consider hand-me-downs or sharing between the twins to save money.

Content related to planning for a baby

If you’ve found this article on budgeting for twins useful, check out this related content:

• 5 Main Baby Costs In The First Year To Budget For
• How Much To Save For A Baby + Key Savings Tips For New Parents
• How To Create A Baby Budget: Plus 3 Best Baby Budget Worksheets!
• Should I Have Another Baby? Weighing The Costs
• 21 Best Coupon Sites To Save A Ton Of Money

Leverage these tips on budgeting for twins to create a budget that works for you!

Budgeting for twins can feel overwhelming at first, but with strategic planning and resourcefulness, it’s entirely manageable. By incorporating these tips—buying in bulk, utilizing coupons, asking for samples, and leveraging support from your network—you can significantly reduce the financial strain while ensuring your babies have everything they need.

Remember, successful budgeting isn’t about perfection; it’s about progress. Start by taking small, actionable steps, like meal prepping or joining a rewards program, and adjust as you go. Each saving strategy adds up, allowing you to focus more on enjoying the unique joy that comes with raising twins.

With these practical, personal tips, you’ll be well on your way to mastering how to save money with twins and embracing the rewarding journey of affordable twin parenting.

The post Budgeting for Twins: 11 Tips To Manage Double The Costs appeared first on Clever Girl Finance.

Freelancing is liberating, but without a solid financial plan, it can also be unpredictable. As a freelancer, you juggle not only your craft but also your finances, taxes, and retirement planning. That’s where financial planning for freelancers comes in.

As a freelancer, you’re your own boss, accountant, and financial planner all rolled into one. It’s exhilarating—and, let’s be honest, a little overwhelming. I’ve been there, staring at fluctuating income, unpredictable expenses, and dreams of making my side hustle my full-time gig.

But it’s not just you, nearly 36% of the U.S. workforce is freelancing, and many are navigating these same challenges. That said, here’s what I’ve learned along the way to help you navigate the unique financial challenges and opportunities that come with freelancing.

This guide will help you take control of your finances and thrive, no matter how unpredictable your income might be.

Why financial planning for freelancers is crucial

Freelancing brings flexibility and independence but comes with unique financial hurdles, especially for women. Without a steady paycheck or employer benefits, you’re responsible for your own budgeting, savings, and future planning.

But don’t worry—financial planning is a skill, not a superpower. By breaking it into manageable steps, you can achieve financial stability and even thrive running your own freelance business.

Let’s get into my key tips:

1. Create a realistic budget

Budgeting isn’t just for nine-to-fivers—it’s the lifeline of freelancers. A clear budget helps you handle unpredictable income and stay in control of your finances.

And personally, having a good budget is what allowed me to transition from side hustle into profitable business. Here’s how to craft a solid one:

Calculate your baseline expenses

Start by listing your fixed personal expenses like rent, utilities, and insurance. Then, add in your variable expenses like groceries, transportation, entertainment and subscriptions. These combined expenses make up your baseline budget, the minimum you need to earn each month to cover necessities.

You also need to be aware of your business expenses and set up a specific budget for that as well. Having a personal budget and a business budget will help you gain clarity on how to plan your finances as a freelancer.

Set income goals based on your lowest-earning months

I can tell you first hand that freelance income varies, so plan your budget around your lowest monthly earnings.

For example, if your baseline expenses are $2,500 and your lowest earning month is $3,000, base your budget on this estimated figure and use any extra income to save for future months, to save for your future self or to invest to grow your business

Track every dollar

Stay on top of your cash flow by using simple budgeting app to categorize expenses and monitor spending trends (you can find a ton of highly reviewed apps in your smartphones app store). If you prefer a hands-on approach, a simple spreadsheet is also an effective way to track your finances. Knowing where your money goes is half the battle!

2. Build an emergency fund

Freelancing income can feel like a rollercoaster, which makes an emergency fund essential. It’s your financial safety net for slow months, unexpected expenses, or even personal emergencies.

I always advise people to have a personal emergency fund based on your personal needs and a separate business emergency fund based on what’s needed to keep your business up and running. 

Save for 3 to 6 months of expenses

Calculate your baseline monthly expenses and multiply them by 3 to 6. For freelancers, include both personal and business costs, such as equipment repairs or software fees. Be sure two open separate bank accounts e.g. your personal bank accounts should be separate from your business bank accounts.

Start small and automate your savings

Building an emergency fund can feel daunting, but start with 5 of 10% of each payment. Automating savings by sending a percentage of every invoice to a high-yield savings account makes it easier to stay consistent.

Keep funds separate

Maintain separate accounts for your personal emergency fund and business savings. This keeps your finances organized and ensures clarity about which funds are reserved for emergencies. Keep your personal checking account and your business checking account separate. This would apply to savings accounts as well.

3. Plan for taxes ahead of time

Freelancers don’t have taxes withheld, so it’s up to you to plan ahead for things like income tax and self-employment tax. By staying proactive, you can avoid unpleasant surprises during tax season. 

The last thing you want is a big surpise tax bill for money you owe and not have the money to pay for it. Here are some tips:

Save for taxes throughout the year

Set aside 25 to 30% of every payment you receive for federal and state taxes. Open a dedicated tax savings account to simplify this process and ensure you’re prepared for quarterly payments.

Pay estimated quarterly taxes

The IRS requires freelancers to pay taxes quarterly based on estimated earnings. Use last year’s income as a guide or online calculators to determine your quarterly payments. Paying on time avoids penalties and keeps you on track.

Track deductions year-round

Freelancers can deduct expenses like a home office, internet, equipment, and professional memberships. Tools like QuickBooks or Bonsai make it easy to log receipts and maximize deductions.

4. Plan for retirement

Without a traditional employer-sponsored 401(k), freelancers need to take control of their retirement savings. Starting now—no matter how small—can make a big difference:

Choose the best retirement account for freelancers

Options to save include the Solo 401K, the SEP IRA, the traditional IRA and the ROTH IRA. Be sure to explore the contribution limits as well as the qualification requirements for each.

Automate your contributions

Consistent, automated contributions ensure you stay on track. Aim to save 10 to 15% of your income for retirement, even during lean months. Your future self will thank you.

5. Manage irregular income

Freelance income can feel unpredictable, but these strategies help create consistency and financial stability if you are working with an irregular or inconsistent income:

Pay yourself a steady salary

Transfer a fixed amount from your business account to your personal account each month. This mimics the stability of a traditional paycheck, making it easier to budget. It doesn’t have to be anything elaborate – keep it reasonable so it becomes sustainable each money.

Save more during high-earning months

When you have a lucrative month, allocate the extra income to savings, investments, or your emergency fund to cover leaner periods.

Diversify your income streams

Don’t rely on a single client or type of work. Explore additional revenue streams like consulting, digital products, or online courses to create more stability. This will help you weather difficult seasons.

6. Secure health insurance and other benefits

As a freelancer, securing benefits like health insurance and disability coverage is entirely up to you. Consider the following:

Shop for health insurance

Explore plans on the Health Insurance Marketplace or work with a broker to find insurance coverage that fits your budget. If you qualify, consider a Health Savings Account (HSA) for additional tax advantages.

Invest in disability insurance

Disability insurance protects your income if illness or injury prevents you from working. Look for policies tailored to self-employed individuals.

Budget for ongoing business costs

Set up a dedicated business account to cover expenses like equipment repairs, software subscriptions, or professional development. This keeps your finances organized and ensures your business can operate smoothly.

7. Avoid debt traps

Debt can derail your finances quickly, especially with irregular income. Here’s how to stay in control with these tips:

Live below your means

Base your spending on your lowest earning month to avoid relying on credit during slow periods. Living below your means is key for ensuring success as a freelancer.

Save for big expenses

Plan for significant purchases, such as new equipment, by saving incrementally instead of using credit. Plan out as far ahead as you can and then start putting money aside.

Pay down existing debt

If you already have debt, focus on paying it off systematically. Use the snowball method (paying smaller balances first) or the avalanche method (targeting high-interest debt).

8. Protect your business

Your business is your livelihood, so safeguarding it is a critical part of financial planning:

Form an LLC

An LLC (Limited Liability Company) separates your personal assets from your business liabilities, protecting you legally.

Get business insurance

Leverage business insurance to cover liabilities, equipment damage, or client disputes with a tailored insurance policy.

Use contracts for every project

Clearly outline payment terms, deliverables, and deadlines in every contract to protect your income and avoid disputes.

Secure your digital data and back up your work often

Use strong passwords, two-factor authentication, and encrypted tools to protect client information. Regularly back up your files to prevent data loss.

Expert Tip: Plan ahead!

Planning ahead is essential for freelancers. Establish consistent financial habits, even with fluctuating income. Prioritize setting achievable goals, allocating funds for taxes, and making regular, manageable contributions to your savings and retirement accounts.

These small, consistent efforts are key to being successful with your finances as a freelancer over the long term.

Q&A: Commonly asked questions about managing your money as a freelancer 

How do I save when my income is so unpredictable? 

Start with a percentage-based savings strategy. Save 10 to 20% of each payment, regardless of size. During high-income months, save more to cushion low-income periods. 

What tools can help me manage my finances? 

Simple budgeting apps in your smartphones app store are great for tracking expenses and creating spending plans.

For more comprehensive financial management, consider tools like QuickBooks or FreshBooks, which offer features for tracking income, invoicing, and managing expenses.

Depending on your needs, spreadsheets or even simpler apps can also work well for organizing your finances.

Should I hire an accountant or financial advisor?

 If managing taxes, deductions, and financial planning feels overwhelming, hiring a CPA with experience in freelancing can be invaluable. They’ll ensure you maximize deductions, stay compliant with tax regulations, and avoid costly mistakes.

If you’re looking for broader financial guidance, such as investment strategies or long-term savings plans, a financial advisor can help you create a personalized plan to achieve your goals.

Both professionals can save you time, reduce stress, and ultimately help you keep more of what you earn. 

How do I handle late payments from clients? 

Always have a clear contract in place outlining payment terms and penalties for late payments. Follow up with clients promptly, and consider using invoicing software that sends automatic reminders.

If a client consistently pays late, re-evaluate the relationship or require upfront deposits for future work. 

What should I do if I face a sudden drop in income?

 Assess your current expenses and cut back on non-essentials temporarily. Tap into your emergency fund if needed, and focus on securing additional clients or diversifying your income streams to rebuild stability.

Related content to becoming a freelancer and managing your money

If you enjoyed this article, check out these related topics:

• How To Start Freelancing With No Experience
• 15 Key Tips For Living On One Income
• How To Become A Freelance Writer & Get Paid To Write
• How To Manage Your Money: 19 Tips To Do It Right

Take charge of your freelance finances today!

Freelancing offers unparalleled freedom, but managing your finances effectively is key to thriving. Start with small steps—like building a budget, saving for emergencies, or opening a retirement account—and watch your financial confidence grow.

Are you ready to take control of your finances? Start today, and your future self will thank you!

The post Financial Planning For Freelancers: 8 Tips To Budget And Save appeared first on Clever Girl Finance.

When it comes to saving money, the journey can often feel like a solo mission. Building and maintaining a savings account can be challenging, especially when you’re lacking accountability or motivation. If traditional saving methods aren’t working for you, or you want a more community-driven approach, a Susu might be the solution you need!

But what exactly is a Susu, and how does it work? In this guide, we’ll explore the Susu meaning, its origins, and how it can help you and your community save money together. You’ll also learn practical steps to start one and discover how my own family has used a Susu to reach our savings goals.

What is a Susu or Sou-Sou?

A Susu (also known by different names like Sou-Sou, su-su, Tontine or Ajo) is a West African system of collectivity for savings, where a group of people contribute a set amount of money at regular intervals and take turns receiving the entire sum. It’s a popular way to save within African, Caribbean, and some Asian communities, providing members with lump sums they can use to meet their financial needs. In these communities they are commonly used to fund weddings, funerals, pay for school fees and for business ventures.

The practice of Susu is deeply rooted in the Yoruba term “Esusu,” which refers to collective, community-based savings arrangements. It’s a form of informal savings often used by immigrants and other communities where access to formal banking institutions may be limited.

Each member contributes an equal amount of money, and when their turn arrives, they receive the total amount of the pooled funds, which can be a game-changer for meeting large financial goals.

My mom has been part of a Susu for years, using this system as a way to save for vacations, home improvements, and even to build her emergency fund. It’s not just about the money for her—being in a Susu creates a strong sense of solidarity and encouragement with the other Susu members, making it easier to stay committed to her goals.

The history of Susu

The history of Susu traces back centuries to West Africa, where community savings groups allowed people to pool their resources for collective benefit. Originating from the Yoruba’s Esusu practice, this savings arrangement was essential in helping families and friends work together to achieve financial stability in societies with limited banking access. Over time, Susu spread to places like Jamaica, the Caribbean, and parts of Asia, where it became integral to community saving habits.

In many of these regions, Susu systems helped fund significant purchases, small businesses, or provided emergency cash for urgent needs.

For communities that had little access to traditional banking, the Susu system filled a vital role in personal and communal finance. Today, the principles behind Susu—trust, solidarity, and mutual financial support—remain just as relevant.

How does a Susu savings work?

A Susu is a rotational savings system where members’ contributions follow a fixed schedule. Participants, often a group of family members or trusted friends, agree to contribute a set amount of money at regular intervals (weekly, bi-weekly, or monthly). Each time the funds are pooled, one member of the group receives the total sum, rotating until everyone has had their turn.

For instance, in a Susu with five people each contributing $100 weekly, one member would receive $500 each week until every participant has had their payout. The contribution amount, payout order, and timeline are decided collectively by the group.

In my mom’s case, her Susu rotates monthly. Every month, she contributes her share, and when it’s her turn, she collects the entire lump sum, which she uses to meet her financial goals. This system has been key in helping her save for large expenses without relying on traditional banking alone.

Pros and cons of a Susu savings

Like any financial system, a Susu has its benefits and drawbacks.

Pros

The pros of this approach to savings include:

Accountability

Being part of a group helps keep you disciplined and ensures that you save regularly. The encouragement from fellow Susu members helps you stick to your commitment.

Immediate access to funds

Once it’s your turn, you receive a lump sum of money that you can use for large purchases, paying off debt, or other urgent needs.

Community support

By pooling resources, the group works together, promoting solidarity and mutual financial progress. It’s a great way for savers to stay motivated and work collectively.

Cons

On the other hand, some of the cons to this approach to savings are as follows:

Trust is crucial

The system relies on the trustworthiness of the group. If someone doesn’t contribute, it can disrupt the flow and lead to financial problems for others. Some unscrupulous individuals may even attempt to scam the group, so it’s essential to choose reliable members.

Patience required

Depending on your position in the rotation, you might have to wait a while before receiving your payout. This can be a drawback if you need funds immediately.

How to make a Susu savings approach work for you

If you’re interested in trying a Susu, here’s how you can set yourself up for success:

1. Set clear goals and timelines

Before joining or starting a Susu, define your savings goal and the timeline you’re comfortable with. Are you saving for a big purchase, paying off debt, or building an emergency fund? Knowing what you’re aiming for will help you determine whether the Susu system aligns with your objectives.

2. Choose your group wisely

A Susu thrives on trust. Make sure to select people you trust—whether family members, friends, or colleagues—who will commit to contributing regularly and on time. The success of your Susu depends on everyone fulfilling their obligations.

3. Collaborate on the rules

Decide together on the set amount of money each person will contribute, the schedule for contributions, and the order of payouts. Transparency and collaboration are key to avoiding misunderstandings and ensuring smooth operations.

4. Stay committed to the process

The success of a Susu depends on every member’s commitment. Stick to the schedule and make your contributions on time. My mom’s long-term success with her Susu is a testament to how dedication, trust, and consistency can lead to great financial outcomes.

Expert tip: Be mindful of who you do a Susu with

Before joining a Susu, ensure that every participant is trustworthy and financially reliable. The success of a Susu depends entirely on mutual trust, as it’s an informal savings arrangement with no legal binding.

Always clarify the schedule for contributions, and agree on the rules upfront to avoid potential issues, like missed payments, that could disrupt the group’s flow and cause financial stress. Trust and transparency are the foundations of a successful Susu.

Commonly asked questions about Susu savings

Who should participate in a Susu?

Susu groups typically consist of trusted family members, friends, or colleagues. Trust is essential because each participant relies on the others to contribute regularly and on time.

Is Susu a good way to save money?

Yes, a Susu is ideal for people who thrive in a community-driven savings environment. It provides accountability and access to lump sums of money that can be used for significant financial goals or emergencies.

Can you lose money in a Susu?

While Susu is generally built on trust, there’s always a risk if a participant fails to contribute. If someone drops out before their turn to contribute, others may not receive their payout, which is why selecting reliable members is essential.

Can a Susu be done digitally?

Yes, many Susu groups now use digital platforms like PayPal, Venmo, or banking apps to manage contributions and payouts. This makes it easier to organize, especially when participants live in different locations.

Are Susu savings legally binding?

No, Susu savings are usually informal savings arrangements and are not legally binding. There are no formal contracts, so trust and clear communication are critical to its success.

Can I join multiple Susu groups at the same time?

Yes, it’s possible to participate in more than one Susu, but it’s important to ensure you can manage all your contributions without overextending yourself financially.

Related articles to saving money

If you have enjoyed this article on this savings method, check out this related content:

• Rules Of Loaning Money To Family (And Friends)
• How To Navigate Family Financial Problems
• How To Do a 6 Month Savings Challenge
• How To Set Healthy Boundaries For Your Finances
• People Will Disappoint You: Here’s How To Deal With It

Give a Susu savings a try!

Now that you understand what a Susu is and how it works, you can decide if this savings arrangement is right for you. It offers a powerful way to build savings within a supportive, community-driven environment, particularly if you prefer collective accountability over solo savings.

My mom’s experience has shown me that it’s more than just a way to save—it’s about fostering solidarity and mutual encouragement within the group. If you want to try a new approach to saving, consider giving a Susu a try. You might find that this system provides the structure and support you need to reach your financial goals.

The post What Is a Susu (aka Sou-Sou)? A Guide To Susu Savings! appeared first on Clever Girl Finance.

Let’s face it—staying focused on our goals isn’t always easy. We often wait for the perfect time to start, thinking we’ll be more motivated tomorrow, next week, or at the start of the year. But the truth is, the best time to get started on your goals is right now—and that’s where these 100-day challenge ideas comes in.

I’ve used the 100-day challenge to jump-start progress in several areas of my life, from saving money to fitness, and it’s been a game-changer every time. These challenges are perfect for creating new habits and pushing past your comfort zone to achieve big things. If you’ve got goals—whether financial, health-related, or personal—this is your chance to build momentum and see game-changing results in just 100 days.

What is a 100-day challenge?

A 100-day challenge is a commitment to taking relentless action every day for 100 consecutive days to reach a specific goal. You can apply it to any area of your life—fitness, finances, hobbies, or personal growth. It’s about forming new habits and taking full responsibility for your progress.

Research on habit-building, such as James Clear’s work in Atomic Habits, shows that sustained, consistent effort is essential for forming lasting behaviors. The challenge also draws from the ideas of deadlines, which creates urgency and focus by setting a specific time frame, motivating people to act consistently.

Additionally, it reflects the Japanese philosophy of Kaizen, which promotes incremental daily improvements leading to significant long-term change. Together, these ideas emphasize that small, daily actions over 100 days can lead to transformative results.

Whether you’re an entrepreneur looking to grow your own businesses or someone wanting to save more, this challenge will help you stay focused and accountable. It can be useful for anyone whether you have sales goals, are an athlete or you simply want to take on a proven execution process to achieve your goals.

When I first started using 100-day challenges, I was working on a side hustle that felt stagnant. Committing to daily progress over 100 days helped me break out of my out-dated beliefs about what I could achieve. By focusing on consistent, small actions, I expanded my capabilities and saw significant growth.

Why 100 days?

Why 100 days? Because it’s long enough to make a meaningful impact, but short enough to keep you motivated. Unlike year-long resolutions, a 100-day deadline gives you a sense of urgency while still feeling attainable. You’re pushing yourself for a fixed period, but that’s also enough time to see tangible results.

Personally, I found that 100 days was the sweet spot for me to develop new habits. Whether I was focusing on fitness or finances, 100 days gave me the perfect window to challenge myself, break free of old routines, and step into new growth. It’s doable and not one of those insane things that you might never follow through on!

Why do a 100-day challenge?

The reasons for doing a 100-day challenge are endless. Some people want to create new routines, while others want to tackle specific goals like saving money, or improving fitness. Whatever the case, the benefits are massive!

You’ll get a clear day by day tracker to measure your progress, hold yourself accountable, and use specific tactics to achieve faster response times toward your goals. Plus, the momentum you build over 100 days can lead to exponential growth.

To motivate yourself to start NOW

A 100-day challenge lets you take action anytime—no need to wait until January 1st to start working on your goals. Whether it’s spring, summer, or the middle of the year, it’s always the right time to push yourself.

I used to wait for “the perfect moment,” but then I realized that high-performing people don’t wait. They take action when the opportunity arises. Starting my 100-day challenges mid-year has given me a faster response time in achieving my goals. Instead of waiting for the ideal start date, I created one.

To hold yourself accountable

We’ve all had days where we didn’t feel like working toward our goals. That’s where a 100-day challenge shines. With a daily tracker in hand, you’ll hold yourself accountable, track your progress, and make that commitment tangible.

When I worked on a 100-day running challenge, I needed daily accountability to keep me going. I tracked each day’s run, and seeing that progress on paper motivated me to keep pushing. I also hired a coach to help guide me through the rough patches, which made a world of difference.

To track your progress

Tracking your progress daily keeps you motivated. A 100-day challenge requires you to record your efforts, so you can clearly see how far you’ve come and how close you are to your goal.

For example, I once used a simple app to track my savings challenge. Each day I could see how much closer I was to hitting my target, which kept me going even when the process felt slow. There’s something incredibly satisfying about watching your progress unfold right in front of you!

To achieve your goals faster

The more you show up for your goal, the faster you’ll see results. That’s why committing to a 100-day challenge can be a game-changer. You’ll see the impact of relentless action every day. If you want faster, more dramatic progress, this challenge will help you get there.

When I started my side hustle, I wasn’t seeing much growth because I only worked on it sporadically. But once I made it a 100-day challenge to dedicate time to my business daily, the results were undeniable. By the end of 100 days, I had grown my business faster than I ever thought possible.

100-day challenge ideas to save money

Whether you’re looking to cut back on spending or grow your savings, these 100-day challenge ideas can help you save money fast.

1. Only buy the essentials for 100 days

This challenge will have you buying only the essentials for 100 days—no extras, no indulgences. It’s tough but incredibly effective.

When I did this challenge, I realized how much I was spending on luxury items and non-essentials. By focusing only on what I truly needed, I saved a significant amount of money.

2. Don’t go to restaurants for 100 days

If you love dining out, this is a great challenge to cut back on expenses. Cook all your meals at home for 100 days and watch the savings roll in!

I love trying new restaurants, but I took on this challenge for 100 days, and it was eye-opening. Not only did I save a lot, but I also discovered new recipes and enjoyed healthier, home-cooked meals.

3. Save $10 a day for 100 days

Save $10 each day for 100 days, and by the end, you’ll have $1,000! It’s an easy way to build your emergency fund or start saving for a bigger purchase.

This challenge was one of the simplest but most rewarding. It’s also one of my favorite 100-day challenge ideas. It forced me to prioritize saving each day, and by the end of the 100 days, I felt so accomplished having that extra $1,000 in savings.

4. Try the 100-day envelope challenge

This popular challenge involves filling 100 envelopes labeled with different amounts of money each day for 100 days. By the end, you’ll have saved $5,050!

I took on the 100-day envelope challenge, and I have to say it was fun and effective. The surprise element of picking a random envelope every day kept things interesting, and seeing the envelopes fill up was deeply satisfying.

5. Dedicate time to your side hustle for 100 days

If you’ve got a side hustle, commit to working on it every day for 100 days. Whether it’s freelancing, blogging, or teaching, consistent effort will yield big results.

I can’t stress enough how much this challenge grew my side hustle. By showing up every day for 100 days, I saw amazing growth in both my skills and earnings.

6. Don’t use credit cards or debit cards for 100 days

Stick to cash for 100 days. This helps you become more mindful of your spending and keeps you from overspending beyond your means.

I did this challenge and it was a total game-changer. Without the convenience of swiping a card, I was much more intentional about every purchase I made.

7. Save your $1 bills for 100 days

Save every $1 bill you come across for 100 days. It’s an easy, painless way to save without even noticing it.

This challenge has been one of my favorites because it feels effortless. You don’t think much about saving a few dollars here and there, but after 100 days, you’ll be surprised by how much you’ve stashed away.

8. Make coffee at home for 100 days

Skip the coffee shop and brew your own coffee for 100 days. It’s a great way to save money without giving up your caffeine fix.

As a coffee lover, this one was tough for me, but after 100 days, I couldn’t believe how much I had saved by skipping my daily latte.

9. Save all your spare change for 100 days

Every time you use cash, set aside the spare change for 100 days. At the end of the challenge, see how much you’ve saved!

I found this challenge to be a simple way to build up a little savings fund. By the end of 100 days, I had a nice stash of cash that I didn’t even miss during the challenge.

10. Make a budget every week for 100 days

Commit to making a budget every week for the next 100 days. Tracking your money regularly helps you take control of your finances.

I made a habit of budgeting every Monday, and the clarity it brought to my finances was incredible. This challenge helped me make better financial decisions and stay on top of my goals.

11. Pay off x amount of debt in 100 days

Pick a specific amount of debt and commit to paying it off in 100 days. Whether it’s $500 or $1,000, work diligently each day toward your goal.

I did this to tackle credit card debt, and taking full responsibility for paying it off within 100 days made me more intentional about where my money went.

Expert Tip: Focus on staying consistent and being accountable

The key to succeeding in a 100-day challenge is consistency and daily accountability. Committing to small, manageable actions every day helps you build lasting habits and achieve growth over time. Use a tracker to monitor your progress and stay motivated, and remember that it’s about showing up daily, even when it’s tough. This relentless action is what leads to game-changing results.

Why challenging yourself helps with financial wellness

Taking on a 100-day challenge isn’t just about saving money—it’s about creating long-term financial wellness. When you consistently apply these tactics over 100 days, you build new habits that last. And by staying accountable and tracking your progress, you’ll experience faster, more sustainable growth.

For me, these challenges have helped break through limiting beliefs and pushed me to take full responsibility for my financial future. Each challenge has been a small step toward bigger, more rewarding results.

How to start a 100-day challenge

Ready to get started? Here’s how:

Pick your goal

Identify your new goal clearly. Whether you’re looking to save, pay off debt, or develop a side hustle, write down exactly what you want to achieve.

Make a plan of attack

Decide on the actions you’ll take daily for 100 days. Be specific about what you’ll do, whether it’s saving $10 a day or dedicating time to a side hustle.

Create a daily tracker

Use a tracker to log your progress. Whether it’s a physical chart, an app, or a notebook, tracking your actions daily will keep you motivated and on course.

Take full responsibility

Commit to taking full responsibility for the results. No shortcuts! If you miss a day, get back on track the next day. It’s about consistency, not perfection.

FAQs: Common questions about 100-day challenges

Why is 100 days a good time frame for a challenge?

100 days is long enough to create lasting habits but short enough to keep you motivated. It’s a manageable period for consistent action, giving you enough time to see tangible results without feeling overwhelmed by a longer commitment, like a year-long challenge.

How do I stay motivated during a 100-day challenge?

Staying motivated comes down to tracking your progress and celebrating small wins. Use a daily tracker or app to monitor your progress, and set mini-milestones along the way. Surround yourself with support, whether through friends, a coach, or an online community, and remind yourself why you started the challenge in the first place.

What are some popular 100-day challenge ideas?

Popular 100-day challenge ideas include saving a specific amount of money, like the 100-day envelope challenge, committing to daily exercise, reading a set number of pages each day, or avoiding unnecessary spending. You can also take on personal growth challenges, like journaling or meditating every day, or committing to learning a new skill like dance, coding or even a new language!

How can I track my progress during a 100-day challenge?

Using a daily tracker is the best way to stay on course. You can use a simple notebook, a printed tracker, or apps specifically designed for habit tracking. Recording each day’s progress helps you stay accountable and makes it easier to see how far you’ve come.

How can a 100-day challenge help with financial goals?

A 100-day challenge can be incredibly effective for financial goals because it encourages daily actions like saving, budgeting, or reducing spending. By dedicating time each day to tasks like saving a specific amount or avoiding impulse purchases, you’ll build better money habits and see real results over time.

Can I start a 100-day challenge any time of the year?

Absolutely! One of the best parts of a 100-day challenge is that you don’t need to wait for the start of a new year or month. You can start any day and set your own deadlines based on your personal goals. There’s no need to wait for the “perfect” time—just get started!

How do I choose the right 100-day challenge idea for me?

Choose a challenge based on your new goal and the area of your life you want to improve. Whether it’s fitness, finances, personal development, or learning a new skill, the best challenge for you is one that excites and pushes you outside of your comfort zone.

What results can I expect from a 100-day challenge?

By committing to daily, consistent action, you can expect game-changing results. Whether it’s saving money, building better habits, or developing a new skill, a 100-day challenge helps you make progress faster and with greater accountability. Many people experience not only tangible outcomes but also increased confidence and discipline.

Articles related to 100-day challenge ideas

If you have enjoyed this article, check out this related content on more challenges:

• The 100-Day Envelope Challenge: Save $5000+ In Months!
• 18 Money Saving Challenges To Save More Money!
• How To Do A 6 Month Savings Challenge!
• 10 Habits Of Successful Women

Which 100-day challenge ideas are you going to take on?

The potential for growth is real when you commit to a 100-day challenge. Whether you want to save money, build a side hustle, or create new habits, the results can be life-changing. So, which 100-day challenge idea will you take on? Let us know in the comments, or tag us on social media @clevergirlfinance—we’d love to cheer you on!

The post 100 Day Challenge Ideas: 11 Ideas To Reach Your Goals appeared first on Clever Girl Finance.

Wondering how to save $5,000 in just 3 months? Whether you’re building up an emergency fund, planning a big purchase, vacation, or just wanting to challenge yourself, saving this amount in a short period is totally possible! You might think it’s intimidating, but with a solid plan, consistent effort, and a strategic approach, you’ll be surprised at how quickly you can hit that goal. Let’s dive into exactly how you can save $5,000 in just 90 days!

Why save $5,000 in 3 months?

Before jumping into the plan, let’s talk about why saving $5k in 3 months is a great idea. First, it’s an amazing way to build up your emergency savings. Life happens—car repairs, medical bills, or home emergencies—and having cash on hand gives you peace of mind when these unexpected expenses pop up. Plus, it helps you avoid making rushed and emotional financial decisions that could set you back.

Additionally, having a clear goal like saving $5,000 in 3 months gives you a sense of purpose. It’s motivating to see your efforts move you in the right direction toward a long-term goal like financial security or even early retirement.

No matter your reason, having a well-defined savings goal can be the motivation you need to stay consistent and succeed.

Step-by-step breakdown: how to save $5,000 in 3 months

Saving $5,000 in 3 months might seem like a lot when you look at it as a whole, but breaking it down into manageable chunks makes it a lot easier. Here’s how it looks:

Monthly savings to reach $5,000 in 3 months

To save $5,000 in 3 months, you’ll need to set aside $1,667 per month. This is a great starting point for your savings goal since we often plan around monthly expenses, like rent or bills. By adding your savings goal to your monthly budget, it becomes easier to track and stick to.

Bi-weekly savings to save $5,000 in 3 months

If you get paid bi-weekly, breaking down your savings into smaller bi-weekly amounts can help you plan around your paychecks. There are 6 bi-weekly periods in 3 months, so you’ll need to save $833 every two weeks. Comparing this amount to your bi-weekly paycheck helps you see if you have a realistic goal or if you need to increase your income or reduce expenses.

Weekly savings to get to $5,000 in 3 months

For those who prefer to think in shorter terms, a weekly breakdown can be more motivating. To save $5,000 in 12 weeks, you’ll need to set aside $417 each week. While weekly savings goals are smaller, they also require more frequent action, which can help keep you focused. If you miss a week, you may need to hustle harder to catch up the following week.

Expert tip: Plan your out your savings strategy and track your progress

No matter how you choose to save $5,000, having a plan in advance is key. Start by breaking down how much you need to save each week, bi-weekly, or monthly, and figure out exactly where that money will come from—whether it’s cutting expenses or increasing your income through side hustles.

Breaking your goal into smaller chunks and tracking your progress regularly helps you stay motivated. Set reminders to review your savings every week, and make adjustments if needed. If you fall behind one week, don’t stress—just plan to make up for it the following week. And always remember to celebrate your wins along the way, no matter how small!

Weekly savings chart to save $5,000 in 3 months

Remember, to save $5,000 in 3 months, you need to save about $417 each week.

You can use visuals like the chart below to make it easier.

This breakdown gives you a clear roadmap to your $5,000 goal, making the process more manageable and keeping you motivated along the way.

7 Actionable tips to save $5,000 fast

Now that we’ve broken down the numbers, let’s get into the good stuff: how you can actually save $5,000 in 3 months! Here are seven proven strategies to help you make it happen.

1. Increase your earnings with side hustles

The fastest way to save more? Make more. And a side hustle can be a game changer here. From freelancing to gig work, side hustles are a powerful way to bring in additional income. Here are some ideas:

• Freelance writing, graphic design, or web development: Platforms like Fiverr or Upwork are great places to start.
• Ride-sharing or food delivery: Drive for Uber, Lyft, or deliver with DoorDash.
• Selling handmade goods on Etsy: If you’re crafty, Etsy can help you turn your hobby into cash.

Even if you can only work a few hours a week, this extra income can give your savings a serious boost. Consider dedicating all your side hustle earnings directly to your savings to hit your goal even faster.

2. Use discounts and coupons

Every dollar saved is a dollar earned. Start looking for affordable ways to cut your expenses by using coupons and taking advantage of discounts. Grocery stores often have loyalty programs, and apps like Rakuten help you score deals online.

Another smart move is canceling subscriptions you’re not using. Services like Netflix, Spotify, and gym memberships can add up quickly. If you’re not using them consistently, hit pause and put that money toward your savings.

Also, don’t forget to check with your employer—many offer discounts on things like car insurance, phone bills, or gym memberships. Even small savings here and there will add up fast!

3. Plan ahead when shopping

Impulse buying is your savings’ worst enemy. One of the best and easiest ways to avoid temptation is to plan ahead. Have a grocery budget, make a list before grocery shopping and meal prep so you only buy what you need. You can also try a no-spend month for non-essentials, focusing only on the absolute necessities.

By sticking to a plan, you’ll find that you spend less without even trying. Another helpful tip? Look for fun ways to save, like turning saving into a game. Try setting savings challenges for yourself, like finding how many meals you can cook under $5 or only using coupons for a week.

4. Cut your biggest expenses

To save $5,000 fast, focus on cutting back your largest expenses. For most of us, this means rent/mortgage, utilities, and debt payments. Here are some ideas:

• Refinance your loans: Lowering your interest rate can save you hundreds.
• Cut utility bills: Save on electricity by using energy-efficient practices (like shorter showers or air-drying clothes).
• Negotiate bills: Call your cable, internet, or insurance providers and ask for a discount.

Consistency is key here. Even small tweaks can lead to big savings over time if you stick to them.

5. Declutter and sell for extra cash

This is where you can hit two birds with one stone: declutter your home while making extra cash. Take a weekend to clean out your closet, garage, or attic. You’d be surprised at how much you can sell on platforms like Facebook Marketplace, eBay, or Poshmark.

You can sell items like:

• Gently used electronics
• Furniture or home decor
• Books, clothes, or kitchen gadgets

Decluttering not only helps you create more space, but the cash you earn can go straight into your savings.

6. Follow a budget and open a high-yield savings account

If you want to reach your savings goal, budgeting is essential. Not sure where to start? Try the envelope system or use a budgeting template or app. The envelope method means setting aside cash in physical envelopes for each expense category (like rent, groceries, etc.), which helps limit unnecessary spending.

Another smart move? Put your savings in a high-yield savings account. These accounts offer higher interest rates than regular savings accounts, helping you earn more passively while your money sits there.

Apps like You Need a Budget (YNAB) are also great tools for tracking your spending and staying on track.

7. Automate your savings

Make saving money effortless by automating it. Set up an automatic transfer so a portion of your paycheck goes directly into your savings account each payday. This way, you’re paying yourself first without even thinking about it. You’ll be amazed at how fast the money adds up when it’s done automatically.

If you’re using a high-yield savings account, automate your transfers there to maximize your interest earnings and reach your goal even faster.

FAQs: Common questions about saving $5,000 in 3 months

How can I save $5,000 in 3 months without a side hustle?

If side hustles aren’t for you, focus on cutting expenses, using budgeting apps, and automating your savings. You can also sell items you no longer need on platforms like Facebook Marketplace or eBay for a quick cash boost.

Is saving $5,000 in 3 months realistic on a low income?

Yes! Saving $5,000 in 3 months on a low income is possible, but it requires strict budgeting, cutting unnecessary expenses, and focusing on small, consistent wins. Start by tightening your budget, eliminating non-essential costs like eating out or unused subscriptions, and look for affordable ways to reduce your spending.

Even small daily savings, like bringing lunch from home or using coupons, can add up quickly. Pair this with a side hustle or extra income stream, like freelancing or gig work, to boost your savings. By combining these strategies, you can steadily work toward your goal, even on a tight income.

What’s the quickest way to save $5,000?

The fastest way to save $5,000 is to combine additional income through side hustles with cutting your largest expenses. Pick up quick gigs like freelancing, ridesharing, or selling unused items to bring in extra cash.

At the same time, reduce major costs like rent, utilities, or loan payments by negotiating bills or downsizing where possible.

Automate your savings by setting up direct transfers to a high-yield savings account to keep the momentum going. By aggressively increasing your income and reducing expenses, you can reach your $5,000 goal faster.

Can I save more than $5,000 in 3 months?

Absolutely! If you significantly increase your monthly income through side hustles or freelancing, while also cutting down on your largest expenses—such as rent, utilities, or debt payments—you can easily surpass the $5,000 goal.

Investing your savings in a high-yield savings account or making smart financial decisions with your extra cash can help boost your savings even more. By staying disciplined and finding fun ways to save, you might surprise yourself by exceeding the $5,000 target!

Related posts on how to save $5000 in 3 months

If you enjoyed this article on saving $5,000 check out this other great content:

• Make A Weekly Savings Plan (Or Bi-weekly Savings Plan) That Works!
• How To Create A Biweekly Budget In 5 Simple Steps
• Creating Your Plan For Budgeting Weekly
• New Week New Goals: Ideas To Make Each Week Amazing!
• How To Save $10,000 In A Year! 6 Simple Steps To Take Now

Challenge yourself to save $5000 in 3 months!

Saving $5,000 in 3 months is no small feat, but it’s entirely possible with the right strategy. Whether you’re cutting expenses, hustling on the side, or automating your savings, every small action brings you closer to your goal.

Check out the “how to save $5,000 in 3 months” chart above, and start tracking your progress today. If 3 months feels too tight, don’t sweat it—extend your timeline or adjust your goal.

What matters most is that you’re saving and moving in the right direction toward your long-term goals and better financial decisions!

The post How To Save $5000 In 3 Months: 7 Proven Steps To Fast Savings appeared first on Clever Girl Finance.