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Fredric is a web developer based in Chicago who hopes to one day start a foundation to support young, Black males in programming and computer science.

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Save $1000 in 30 days

November 11th, 2008 • Related • Filed Under

Before all of this election stuff, we at the Guide used to regularly post about frugality and ways to pad to your savings. In these tough economic times, after the euphoria slowly transitions into pride, our wallets and bank accounts still need attention.

Over at I Will Teach You to Be Rich, Ramit Sethi has started the Save $1000 in 30 days challenge.

Financial Peace Junior
Creative Commons License credit: Matt McGee
Save Baby, Save

Going beyond the sometimes unreasonable advice of don’t eat for one day frugality, Ramit has come up with some pretty neat ways of saving money. At the time of this blog post, he has outlined 7 steps. By the end of his challenge, however, I think he’ll be extending it to 10. They include:

  1. Pack lunches for the rest of the week
  2. Turn your thermostat down 3 degrees
  3. Sell something on eBay today
  4. Involve your friends in your savings challenge
  5. Optimize your cellphone bill
  6. Use gas prices to become your own hedge fund
  7. Create a “No Spending” day once a week

Kimberly and I are trying a few of these out ourselves. We all know that forming regular habits are the key to making a big impact on your debt and IRA, so why not try some of his techniques? Pick up this great site’s RSS feed, digg up these tips, and see how far they take you!

Peep the video below, a message from Ramit, himself.

There Are 2 Responses So Far. »

  1. Pingback by Flickr Treats | Matt McGee on 13 November 2008:

    [...] the last photo find is from an article called Save $1000 in 30 days, on YBP Guide, which used my semi-recent photo of the Dave Ramsey Financial Peace Jr. set [...]

  2. Comment by PS3 on 22 November 2008:

    Does turning your thermostat down 3 degrees really make that much of a difference?
    I will have a go at this and see how much i can save!