How I’m Saving $1,000 a month

When you have a money flow (aka budget) that really works for you, it can make all of the magic happen. It is meant to be a guide so you can adjust your numbers to work for you and your goals. Like banks of a river. But here’s the thing - If you want to start making your money work for you, you have to actually know what your money looks like. What is coming in and what is going out? If we don’t do that, you’re likely to create a bandaid budget. And we don’t believe in that! So, to inspire you to find your flow, I’m going to share with you adjustments I’m making to my budget.

I like to start the New Year by being curious about the last year and beginning to daydream about the next 12 months.  And that daydreaming is usually what motivates me to peep my numbers and get them into alignment. 

For example: I want to go to Hawaii for my birthday this year and so, I want to find that money! 

5 Ways I’m Saving Money On My Budget

Assessed my subscriptions: Estimated savings - $105 per month

This may seem like a no brainer but I can be totally guilty of letting some subscriptions slide even though I don’t use them. The reasons vary from wanting to support friends to FOMO if I cancel it. But, like clothes - if you are going 6 months to a year and you aren’t wearing the item (or using the subscription) it’s time to send it on it’s way.  The subscriptions I decided to cancel were a fitness program, a make-up brand and some vitamins I never seem to make. I can always start them back up again, but I’m going to see how it goes through March. 

Curbing the Alcohol: Estimated savings - $150 per month

I can be a bit of an ebb and flow drinker. I’ll go weeks or months without drinking and then other times I hit a nightly glass of wine stride. If I look back on my budget, I’d spend on average about $60 per month on buying alcohol. But I don’t want to just pay attention to that, I also want to curb drinking when I’m out to dinner. Honestly, I’m not a big drinker but challenging myself to really ask if it sounds good and to not drink just because everyone else is…I like it. So if we look at the eating out budget, this is where I feel like you can save a lot by not drinking. Two drinks is easily $30.  Do that once a week and you are hitting $120 a month! I challenge you to think about how often you drink and give yourself an average cost of $10-$15 and see how that number feels to you. 

Pet cost adjustments: Estimated Savings - $50 per month

Now this one just kind of occured because I needed to shift Pink Lady’s food. And it just so happened that I chose one that she likes and it is about $30 cheaper per month. On top of that, I started to curb her treats. She’s a hungry hippo ALL.THE.TIME and lordy those treats get pricey! So, I’m still buying high quality treats, just not as many. I’ve made some other adjustments that I’m hoping work - like shifting to some holistic approaches to her joints etc to help costs on her monthly medicine, but I’m not in a spot yet where that could be a savings. Also - I only buy her a new toy when she’s hit level 5 - aka eyes gone and stuffing guts revealed! For Pinky - If I want a toy to have any chance of lasting a bit - I have to buy the $20 Tuffy toys. And ya’ll, when I first got her, I was in bliss buying her ALLLL the things and she had a toy bin of misfit toys to prove it! Dogs love your love…something I have to remind myself!

Groceries: Estimated Savings - $100 per month

Ya’ll I know you are feeling the squeeze of this inflation. Eggs anyone? For me, I found that I could get into a habit of buying certain things that weren’t necessarily as cost effective and just getting into a groove of buying things without planning. You know - like that $9 jar of yummy jalapeño stuffed olives.  I love me some Uncle Rao’s pasta sauce ($9 a jar), but I will only buy it if it is $3.00 off per jar and then I allow myself to buy $30 worth.  I know that seems weird, but give yourself some thresholds. The biggest factor in this savings is simply eating what I have. I often replace things before I need to. Now, that’s easy for me living on my own, I know that can be more challenging with a house full.  I used to spend $500-$600 per month on groceries. I’m aiming to do $400-$500. To do that - I’m totally looking to some of my cheaper recipes. I don’t feel like I’m missing out, because that goal of Hawaii is VERY alluring!

Moved: estimated Savings - $600 per month

For many of you, you’ve adjusted all you can of the variable items in your budget and the only things left are larger decisions.  Rent in Denver is bananas and I was ready to find a place that was under $3,300 (nope, not a typo), was one story and had a little backyard for Pinky. Now on this saving move, I also had to consider the cost of moving and the overlap of my leases for 1.5 months. The bigger savings with this move comes after month 6. I signed an 18 month lease. So after month 6, I’m looking at a yearly savings of $7,200.  That’s a fully funded Roth IRA and some travel. I also sold a bunch of stuff that paid for my movers.  So for me, this move was stressful AF (Ya’ll it was my 3rd move in not even 3 years. woof), but totally worth it. I knew I wasn’t willing to move back into an apartment or get a roommate, BUT I knew those were options if I absolutely needed to do that. And I think that is a good exercise to go through: What am I willing to do if my finances required it? You will discover your threshold, which can be motivating to stick to your numbers and at the same time - feel a bit of safety that there are still other options to save.

Grand total - just over $1,000 a month.

NOW, I have to stick to it but honestly, I don’t think it will be much of a stretch because a lot of the adjustments are just that - adjustments. There isn’t one thing on my list where I’m doing a 180. 

THAT is the magic spot for a money flow. Never going diet mode and trying to go too far too fast. Why? Because those budget numbers are actually habits. 

So, if you are creating your budget, you might need to ease into it. Maybe you try to save $50 and see how that feels for a bit. Focus on the progress and how you FEEL! I don’t feel like I’m in sacrifice with these moves. And that’s important because when we feel that, we run the risk of running out of willpower and shifting back to old habits. I feel like it will be slightly challenging, and for me, that is a good spot to be in.

Looking for guidance on your money flow and more money knowledge? Peep Fierce Finances. I’ve opened up my first Live Round since April 2022. You don’t want to miss it! It’s magic for your money. Your options: Apply for the LIVE round, or join self-guided!

I’m rooting for you!

xoxo - Bri