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How to Save $1000+ a Month | 1 min money talk

 

American households spend an average of about $60K a year according to the 2017 study by the Bureau of Labor Statistics.

 

There are three things that Americans spend most of their money on.

 

  • Housing – $19,884 (33%)
  • Transportation – $9,576 (16%)
  • Food – $7,729 (11%)

 

Focus on reducing the big three expenses instead of minimizing your avocado toast or morning coffee.

 

In the past couple years, I’ve gone from $1,700 a month in housing to $1,350. I got out of my brand new leased car which was about $500 for car payment, insurance and gas to a 2006 used car for $5K cash and bike to work everyday. I also lowered food costs from $500+ to about $250 a month.

 

Through these changes I’ve been able to save about $1,000 a month.

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