what's up you guys it's pritham here so first of all i want to say this is something that i'm not
bragging about rather i find out that there is a way that it can be possible so for making it
simple i will say that i choose to save thousand dollar a month that is twelve thousand dollar a
year and if you are new to this channel hi i'm a professional cook who is based in the
united states for past two years and sharing my experience with you guys without further ado let's
dive into the video and do not forget to hit the like button and subscribe my channel for youtube
algorithm so number one is define a timeline for your goal if you want to save thousand dollar fast
then you need to define a timeline for your goal it is not enough just to say one you want to save
money fast what does fast even mean does it mean a week a month two months it's too abstract and
abstract goals don't tend to end well rather a good defined goal should look something like
this i am going to save thousand dollar in next 30 days number two is use your budget to make a plan
once you have a well-defined timeline for your saving goal you will need to develop a plan
to get there and that's where creating and living on a tight budget comes into play
to continue with my previous example let's say that your goal is to save thousand dollar
in 30 days well if you add up every penny of your income that you make and plan out every expenses
then you can easily determine where you will end up at the end of the next 30 days if
after all of your expenses you have less than thousand dollar left over then all you have to
do is cut some more expenses if you are left with a number greater than thousand then maybe you need
to adjust your timeline or increase your saving goal trust me i know it's hard even for me but it
really works when you're really determined about it number three is put your savings first once
you have worked through your budget and determined your spending and saving plan then your next order
of business is to actually move your money into your savings account yes you heard me right you
need to move the money into your savings account before you spend a single penny on anything else
after all you just laid out an exact spending plan with your budget as long as this is accurate then
you can be confident that the remaining amount of money in your checking account will cover
up your other expenses this is known as paying yourself first or safe before you spend method
and it is one of the main pillars of personal finance and with that said hit the like button
if you haven't done that already number four is get a second job if you want to save thousand
dollar faster than you are currently are able then you should consider getting a second job
even working part-time minimum wage job at night can net you a few hundred dollars extra each month
if you pair that extra income with the expenses that you cut from your budget then you can
seriously shorten the amount of time it will take you to reach your goal number five is start your
own side business one of the best ways to make extra money is to start your own side business
and while this might be not the best option if you just need some quick cash in the long run
it can add ongoing fuel to your savings in other words in the short term a side business might not
generate as much income as a part-time job however a year from now if you stick with it and put in
the work it could be generating several thousand dollars per month the best part about running
a side business is that your income is only restricted by your willingness and effort to go
out and do it that what you want to do in fact if you really go all out there is no reason you can't
guarantee a thousand dollar in next 30 days or less you just need a good idea a marketable skill
a product and a fearless attitude if you can keep your startup cost to a minimum and focus on sweat
acuity you can end up earning a serious good income number six is sell your stuff when you
need to save thousand dollar fast and cutting your expenses just won't put you over the top
then selling your stuff is always an option if you have some unused furniture laying around and also
if you have old designer clothes that you no longer wear then you could sell them online to
make some quick buck and subscribe and hit the like button for the youtube algorithm
number seven is carefully track your progress one of the most important things that you can
do when you're trying to achieve any saving goal is to track your progress along the way
this is also where your budget comes in handy if you want to save thousand dollar fast you should
be log every purchase and expenses that your financial life on a daily basis and make sure your
spending alliance with your spending plan when you do this it's easy to see when and where you are
drifting off track and readjust your course plus every time you sit down to track your progress
it forces you to refocus on your end goal which will help you to achieve it faster number eight
is use the 30-day rule the 30-day rule is meant to protect you from impulse spending essentially
every time you want to buy something that you didn't originally include in your budget you
force yourself to wait 30 days before you buy it this does two things first of all
it keeps you from making an emotional purchase by forcing you to take a step back and really assess
if it's something that you need second of all it allows you the opportunity to work it
into the following month's budget should you still want it after waiting that required amount of time
if you still want it then go ahead and buy it like i brought my crocs work shoes and lastly
number nine is set your sights higher if you want to save thousand dollar fast then one of the best
thing that you can do is to set your saving goal higher than thousand dollar why because if you
set your saving goals higher than what you need if you miss it then you will still have achieved your
original goal plus it gives you a slight buffer in case any unexpected expenses pop up and thank you
for watching this video today feel free to follow me on instagram i post pretty much daily there
and don't forget to hit the like button and subscribe my channel until next time