I’m trying to save $10,000 as fast as possible and I feel like I’m in a good position to do it, but I want to make sure I’m doing it the smartest way. I make $19.90/hr as a CNA and usually work 50–60 hours a week, which puts me around 100–120 hours per biweekly paycheck. I also get weekend differential pay for Friday–Sunday shifts.
Right now my only bill is my phone ($90/month), and my car insurance is already paid for the year, so I’m in a rare spot where I can really focus on saving aggressively.
I’m looking for any advice on the fastest and most efficient way to reach $10K from here—budgeting strategies, saving methods, or anything I might be overlooking. I’m ready to put in the work, I just want to make sure I’m maximizing it.
Fastest way to save 10k
byu/Mundane-Top-2751 inpersonalfinance
Posted by Mundane-Top-2751
3 Comments
Work as much as possible and spend as little. Meal plan if cook for self and say no to frivolous spending. I would set up a savings account direct deposit from work to a different account than you pay bills out of. Send 70%+ of net there so you “don’t see it as spending money”
You can easily knock your phone bill down to like 15 bucks a month with Mint mobile or something similar. That’s 75 bucks a month right there.
Skip meals out completely. Shop sale groceries at places like Aldi/Lidl etc. Bring a sandwich to work each day, there’s 10-15 bucks a day saved on eating out.
I’d automate transfers to a HYSA. We have SoFi and they are decent, you want your money making money while you save. We were able to save a 100k down payment in about 3 years by doing the little things like this.
Keep an eye on your small daily spending habits. Eating out, Coffee and purchasing items you don’t need. These small things really add up. I used to carry a small notebook and wrote down everything I spent each day. At the end of the month I reviewed everything in the notebook and was amazed at how everything added up after 30 days. I made some changes and was able to add another $350.00 to my savings.