Saving $1,000 seems downright unreasonable when you’re barely covering your expenses. I’ve been there. Several years ago with little ones at home, my husband and I could barely pay our small condo mortgage and garage sale prices seemed extravagant. None-the-less, we never wanted our finances to be in control of us. Deep down we had confidence that God was in control, not our money (or lack of it). So, we diligently saved. I don’t want to make it sound like it was easy, because it wasn’t, it rarely is.
We added to our savings using every angle. We always got the best savings rate in our bank account, used coupons and promo codes, shopped the lowest prices, ate out less than most, got cash back using credit card rewards, and used a fan when it was hot. When it came down to it we mostly just did without truly meaningless purchases. One savings method we’ll likely remember to do when eating out is not to order drinks and to order enough food for that sitting. That alone can save a family of four about $1,000 a year. We accepted the looks of disapproval when we only ordered a side salad to share at group dinners, had our children share a kid’s meal and then asked for our own check. We never kept a balance on our credit card; we actually made money from using it by never paying interest and earning cash through the rewards program. Slow and steady, today we have not only $1,000 in savings, but the equivalent of 3-6 month of income as well.
Like I said, it’s not easy, it’s not fast, but you CAN do it with hard work and trusting in the truths that God has for you. Proverbs 21:5 (NIV) The plans of the diligent lead to profit as surely as haste leads to poverty.
If you don’t have a savings plan, start one today. To get a head start, check out this information on how to save $1,000 in just one month: http://www.daveramsey.com/blog/save-1000-in-one-month.
If you already have at least $1,000 set aside, take it a step further. Secure a great interest rate and help ministry at the same time with ECCU's Money Market Savings.