Save another $1,000 in the First Quarter of 2009

In a previous post, I discussed how every American could save at eats $1,000 before Christmas. I want to expand upon those savings with giving advice on adding another $1,000 to your bank account.

Cancel the New Year Celebrations: Don’t go out for New Year’s Eve; Don’t buy fireworks, there are always free fireworks in any major city; and Cancel the College Football party.
(savings = $100-$300)

Cancel the Super Bowl Party: Just watch the game at a sports bar or stay at home with your family and limit the food expense.
(savings = $50-$100)

Give Love on Valentine’s Day: Your spouse, girlfriend or boyfriend will absolutely understand if you do not show up with a diamond rind on February 14th. Just tell them you are planning for “our” future and want to ensure that “we” make it though the crisis unscathed. If that does not work then tell her that you will give her a diamond ring and necklace in 2010.
(savings = $200-$400)

Make Spring Break Wait: Your kids will understand if you explain to them that staying home for Spring Break will help pay college expenses. If they are already in college you convince them that it’s Spring Break or another semester. If they are not in college, you tell them that it is Spring Break or junior college.
(savings = $500-$1,000)

Average savings of $1325.00

Again, some people will save less and some will save more. It all depends on how much you party and travel. Since I can safely assume that unless you are filthy rich you will be doing less of both for the foreseeable future. Place your savings in a 3/6 month CD and watch it grow.


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