Can you save $1000 in 30 days?

There’s a new challenge going on in the personal finance blog community.  I learned about it from Get Rich Slowly, but it originated at I Will Teach You To Be Rich.  The challenge is to save $1000 in 30 days (the 30 days of November).  Each day, I Will Teach You… will post a new task/suggestion with which to save money.
 
This sounds intriguing.  I’m not going to sign up officially, but I’m going to see how far I can get towards that goal.
 
I already save $500/month, not including what I put into my IRA each month.  I’m not sure I can save another $1000 on top of that.  So I’m going to shoot for $500, for a total of $1000 (again, not including IRA).  If I do better than that, great!
 
The first task, for Nov. 1, was to pack lunches for the rest of the week.  I already do this.  I’m going to be out of town Friday, so I may have to eat out for lunch that day.  Otherwise, I should have no problem packing lunch for the rest of the month.  During a normal month, I probably eat lunch out once, at the school cafeteria.  So packing lunches would only save me $7.00.  I have an alternate idea – don’t spend any more money on making lunch for this month; only make do with what I already have in the pantry.  I should be able to do this.  As a matter of fact, I didn’t have to buy groceries this weekend, so I can challenge myself to eat totally out of the pantry for the rest of the month.  All I should have to buy is milk, eggs, and any staples I might run out of.  I spend about $150 on groceries per month, so I should be able to save about $125 of that.
 
The second task, for Nov. 2, was to turn the thermostat down 3 degrees.  Well, my heating system is off.  I don’t anticipate having to use it all month.  I budget $100/month for electricity.  My bill when the system is off can be as low as $30.00.  Let’s say I can save $65 this month on electricity by not turning on the heat pump.
 
Yesterday’s task was to sell something on eBay.  I’m not sure what I have left to sell; I’ve decluttered and downsized pretty thoroughly.  I’ll look around, though, and see what I can find.  I’ve never used eBay, so that would be a new challenge in itself.
 
Whatever I do save in this challenge will go towards the emergency fund.
 
It’ll be fun to see what each day’s task is.
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One response to “Can you save $1000 in 30 days?

  1. Hi there,

    I’m actually working with Ramit from iwillteachyoutoberich.com at the moment, and he pointed me to this post.Couple of things I wanted to ask you:

    1. Ramit just put out a private video on automating your finances and we wanted to send it to you as a thank-you.

    2. His new book is coming out, and for the people who pre-order the book (it’s about $10) in the next few days, you’ll get 6 chapters by PDF before anyone else, plus entry into a private community with premium content. Can I send you some more info and the link to the video? If yes, please drop me a line as soon as possible — andrewlynch88@gmail.com.

    Thanks a lot,

    Andy

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