7 Small Money Moves That Can Add Up to $1,000 by Year-End
Written by
Cynthia Measom
Edited by
Zuri Anderson
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
The holidays are a time of goodwill and cheer, but they can leave behind some serious debt that lingers well into the new year.
However, by making a few small money moves, you can come up with $1,000 by year-end, which can help either pay off the debt or at least put a sizable dent in it.
Cancel Every Subscription You Can Live Without
- Potential Savings: $20 or more
Do a subscription audit and cancel every subscription you can live without. Take a hard look at streaming subscriptions. You might realize you only subscribed to HBO Max for a series you were interested in that’s since been cancelled. Also, reconsider any subscription boxes you receive.
Use Up What’s in Your Pantry and Freezer
- Potential savings: $200 per week for a family of four (used USDA’s weekly moderate-cost plan for food at home for one child ages 6 to 8; one child aged 9 to 11; one adult female 19 to 50; one adult male 19 to 50
It’s no secret that groceries are expensive, but there’s a way to spend less. Take stock of what’s in your pantry and freezer and use up what you have before buying more groceries. If you could get two weeks’ worth of meals from what you already have, you could potentially save $400. According to Delish, there are plenty of recipes that can make use of ingredients you already have.
Commit to a No-Spend Weekend (or Two)
- Potential savings: $100 or more
Depending on your weekend spending habits, you could potentially save at least $100 by committing to a no-spend weekend or two. Even if you do this twice before the end of the year, that’s at least $200 saved.
Plan ahead, though, so you won’t be tempted to pull out your wallet. For example, use restaurant rewards points for food and watch free movies or plan a family game night, pop popcorn and make a snack tray with things you already have in your pantry, fridge or freezer.
Rethink Recent Purchases
- Potential savings: $100 or more
Whether it’s a new pair of expensive winter boots or a luxury appliance you didn’t really need, think about returning it and pocketing the money. Depending on how much you’re prone to impulse purchases, you may find hundreds of dollars’ worth of purchases sitting around that you can take back. But do it quickly because the return window might expire soon.
Cancel Upcoming Auto-Renewals
- Potential savings: $25 to $100
Check to see if you have any auto-renewals coming up by typing “auto renew” into your email’s search bar or checking credit card or bank statements a year prior. If you find any, consider cancelling them. Unless you’re getting a significant price break on something you absolutely need, it shouldn’t be a big deal to let it go — even if it’s temporary.
Start Carpooling
- Potential savings: $100
Check with co-workers who live nearby or who could meet you at a park-and-ride lot and ask if they want to carpool to save money. You could slash your gas bill in half by doing this until at least the end of the year. For example, if you spend $200 per month on gas, you could save $100.
Sell Items You Don’t Use
- Potential gain: $300 or more
You could potentially make hundreds of dollars by selling items that are collecting dust in your home, garage, storage shed, basement or attic. Fitness equipment, bedroom furniture and dining tables are some of the easiest things to sell, per Side Hustle Nation.
More From GOBankingRates
