CHARLOTTE — Saving $1,000 might seem like an impossible task, especially if you’re living paycheck to paycheck, but it can be done.
Consumer Advisor Clark Howard has the latest on ways to keep more money in your wallet.
Speaking with Clark, multiple residents say they know how important it is to manage their money. “I do have a budget. It’s a loose budget but we have a budget,” Dave Cohn says.
“I feel like it starts well,” Angelica Crump adds.
“Knowing how to manage your money is essential to living a happy and successful life,” Wanda Dunlap says.
Clark’s first piece of advice – start by saving $2.75 every day. In a year, you’ll have just over $1,000 in your hand.
And don’t just let that money sit there. Clark says to put it in a Roth IRA or a high-yield savings account. That way, you’re putting your money to work for you.
As for groceries, Cohn brought up a different money-saving obstacle. “I went in for three things and I came out with six bags and I’m like, I really didn’t come in for this many bags. I was hungry,” Cohn says.
Don’t ever go into a grocery store without a plan, Clark says – especially don’t go in when you’re hungry.
Make a shopping list based on what’s on sale that week. You can also use an app like Pantry Check that will help you create your list.
Clark highlights other ways to put more money in your wallet like using coupons and cutting back on streaming apps.
When you realize you haven’t watched a show on a particular streaming app in a while, Clark says to get rid of it.
His favorite? Fast, free, ad-supported TV. Those are free streaming services and they are the fastest-growing.
If you’re thinking about cutting the cord to save money, Clark says you can also buy a digital antenna and watch local TV for free.
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