This post may contain affiliate links. If you click and make a purchase, I may receive a small commission, at no extra cost to you. I only recommend products and services I use and love. Thanks for supporting The Little Frugal House!
Do you have a purchase you need to save up for? Or just want to increase your savings?
Anytime I have a big purchase to make, I like to set up a savings schedule. This helps determine how much I need to save each week to have enough money in time for the purchase.
Creating a savings schedule helps motivate me to stick with it and challenges me to keep saving.
Since this has been so helpful for me, I wanted to help you save more money, too!
How to Save $500 in 3 Months + FREE Savings Checklist
A great savings goal to start with is to save $500 in 3 months. Think about what you can do with $500.
With $500, you could:
- start an emergency fund
- save for a down payment on a car
- buy a new couch
- replace a broken appliance
- take a weekend trip
You can do a lot with $500, so let’s start saving that money up!
How to save $500 in 3 months:
Saving a little money each week will add up quickly over a few months! Skip eating out, stay home as much as you can, and make saving a priority!
I created this free printable savings checklist to make this easy for you.
To use the checklist:
- Print the checklist here.
- Each week, save the amount listed beside that week.
- Check the box once you saved the money.
- Continue until you have $500 at week 12.
A few savings tips to help you save $500 in 3 months:
Save the money as soon as you get your paycheck.
Put the money aside so you aren’t tempted to spend it.
Related Post: The 4 Bank Accounts You Need to Have
Schedule auto transfers.
Go into your online banking and set up an automatic transfer on the day you get paid. You can specify the amount and the date. This way, you won’t even see the money and it goes straight to savings!
Brainstorm ways to save more money!
Can you stay home more and avoid the cost of eating out? How about cancelling a monthly subscription? Do you have something you can sell that you aren’t using?
Related Post: 77 Things to Declutter & Sell
Saving money doesn’t have to be hard or painful. Start with this $500 in 3 months challenge and think of ways you can save even more.
After this 3 month challenge is over, you will have $500 to make your purchase or $500 more in savings!
You may find you don’t really want to make that purchase after all. In that case, keep saving!
Be sure to grab the free printable to keep yourself accountable and motivated throughout this challenge!
Get to saving! You can do this and you will be so proud of yourself once you finish the challenge and have $500 saved!
If you like this challenge, you have to check out the 30 day money saving challenge to see how much more you can save!