1 In 4 Adults Has No Emergency Savings — How You Can Unlock $1,000 Per Month With Simple Strategies

According to Bankrate’s 2023 emergency savings report, 1 in 3 people (30%) have some emergency savings but not enough to cover three months’ worth of expenses — an increase from 27% in the previous year. 

Nearly 1 in 4 U.S. adults (22%) confess to having no emergency savings at all. Are you among those who feel their hard-earned money vanishing into thin air every month? Picture having an additional $1,000 in your bank account each month — a bonus that could help you achieve your dreams, pamper yourself or build a solid savings cushion. With some simple financial maneuvers, you can make it happen.

Refinance Your Car With Caribou: Unleash Savings From Your Phone

Caribou, an innovative car refinancing app, is your secret weapon in the quest for extra cash. If you’ve been stuck with a high-interest auto loan, you can refinance your car from your smartphone with Caribou’s app. By securing a lower interest rate, you can reduce your monthly payments and save hundreds of dollars each month. You can get a refinance quote here.

Switch Your Cell Phone Plan: Slash Expenses, Boost Savings

Taking a few minutes to research and switch to a more budget-friendly cell phone plan can save a significant amount of money monthly. The extra $50 or $100 may not seem like a lot, but it adds up over time.

Embrace The Power Of Bundling: Combine Services, Cut Costs

Who doesn’t love a good deal? Many providers offer discounts when you bundle services like internet, cable and streaming subscriptions. Instead of shelling out individual payments for each service, bundling can save you big bucks and streamline your monthly expenses.

Dine In, Save More: Cook Deliciously On A Budget

Eating out can be expensive, especially when it becomes a frequent habit. Embrace your inner chef and cook up a storm at home. With the plethora of online recipes and easy-to-follow cooking tutorials, you can create scrumptious meals without denting your wallet. Plus, meal prepping saves time and money while ensuring you never skip a tasty lunch at work.

Hone Your Couponing Skills: Clip And Save

Coupons might seem old-fashioned, but they’re a tried-and-true method to save money. Whether it’s for groceries, household items or entertainment, scouring for discounts can be surprisingly rewarding. Check out coupon websites and apps for fantastic deals, and you’ll be amazed at the money you can save.

Subscriptions Audit: Trim The Excess

Subscription services can be convenient, but they can also be sneaky budget drainers. Take a closer look at all your subscriptions — from streaming platforms to gym memberships — and decide whether they’re genuinely worth the cost. Cancel what you don’t use or need, and watch the savings roll in.

DIY Delights: Tackle Home Repairs And Projects Yourself

Why hire someone when you can do it yourself? From minor home repairs to arts and crafts projects, there are plenty of resources online to guide you. By taking matters into your own hands, you’ll save on labor costs and learn new skills along the way.

Energy-Efficient Home: Reduce Bills, Increase Savings

Replace those old incandescent bulbs with energy-efficient LED lights. By making this switch, households can save approximately $225 in energy costs annually. Talk about a win-win — it’s eco-friendly and wallet-friendly.

Don’t let drafts sneak into your home; seal them to keep your space cozy and your utility bills in check. And when it comes to your thermostat, a conservative adjustment can lead to substantial reductions in energy usage, meaning more money stays in your wallet. 

By making these easy, energy-conscious adjustments, you’ll save money and contribute to a greener, more sustainable environment.