If You Have Less Than $5K in Savings, These 4 Steps Will Get You There
When you log into your bank account, how do your savings look? Probably not as good as you’d like. It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
If you have less than $5,000 in savings, you have work to do. We’re not judging — we don’t roll like that. We’re here to help. We just don’t want you to have to sell those Elvis-Presley-signed velvet pants you inherited just to pay some lousy plumbing bill. Those pants are sweet.
Try these tips to get the ball rolling, and start building up your savings so you can breathe a little easier.
1. Earn Extra Money Delivering Food
Cities around the country are filled with two things: incredible restaurants and busy people.
You can help connect them by delivering food through Doordash.
As a “Dasher,” you’ll work as an independent contractor, setting your own hours and working as much or little as you want, meaning how much you can make is up to you.
You’ll earn a $6 fee for each delivery, plus keep 100% of your tips.
All you need to get started is an insured vehicle or a bicycle and a smartphone. You should be at least 18 years old and have a valid driver’s license.
If you’re interested in becoming a Dasher, you can learn more here.
2. Add $225 to Your Wallet While Watching Movie Previews
If we told you that you could get paid while watching videos on your computer, you’d probably laugh.
It’s too good to be true, right?
But we’re serious. By signing up for a free account with InboxDollars, you could add up to $225 a month to your pocket. They’ll send you short surveys every day, which you can fill out while you watch someone bake brownies or catch up on the latest Kardashian drama.
No, InboxDollars won’t replace your full-time job, but it’s something easy you can do while you’re already on the couch tonight, wasting time on your phone.
Unlike other sites, InboxDollars pays you in cash — no points or gift cards. It’s already paid its users more than $56 million.
Signing up takes about one minute, and you’ll immediately receive a $5 bonus to get you started.
3. Get Paid to Fill This out
We’ve all been there. Netflix drones in the background as you scroll Instagram. What are you even doing?
But there’s a company that will pay you for all that screen time.
Yep. Swagbucks is a reader favorite, because it pays you in free gift cards for taking surveys and other activities right on your phone. You’ll even earn a $5 bonus when you sign up and earn 2,500 points within your first 60 days.
Online surveys won’t make you rich, but if you’re just vegging out on the couch, why not click a couple buttons and earn some cash to add to your savings account?
4. Trade Your Receipts for Cash
At this point, tons of grocery-savings apps have hit the market — and we don’t hate it. But having so many options can become overwhelming, especially for the lazy saver.
If that’s you — the one who just wants to get in and out of the store and save money without doing much thinking — there’s an app we recommend. It’s called Fetch Rewards, and all you have to do to earn rewards is take a photo of your grocery receipt.
No scanning barcodes; no searching for offers; no grocery store limitations.
Here’s what to do:
- Download the Fetch Rewards app. (Pst: Enter the code PENNY to earn 2,000 free points!)
- Create an account with your email address or through Facebook.
- Take a photo of your grocery receipt (must be from the past 14 days).
Fetch Rewards finds opportunities for you to earn rewards for your everyday purchases.
Every time you scan a receipt that includes one of more than 250 participating brands, you’ll earn points — without worrying about matching specific product offers.
If the app does find a match, you’ll earn even more. For example, we recently saw an offer of 2,000 points when you purchase a Suave female hair product. And another for 2,000 points for a 12-pack of Blue Moon.
Once you collect enough points, cash out for a gift card to any of a number of retailers. For example, 10,000 points will get you a $10 Sephora gift card. Or 3,000 points will get you a $3 Panera Bread card.
Go ahead, and start fetching points toward gift cards by downloading Fetch Rewards.
(And, yeah, we somehow resisted the obvious “Mean Girls” reference. You’re welcome.)
Think Small, but Dream Big
It’s tempting to just shrug and say, “I can’t afford to have a savings account.” Sure, you think you’ll plop that $1,500 tax-refund check into savings. But those big windfalls also come with big temptations.
If you can find a way to save just $5 each day, you’ll be $1,825 richer in a year.
Having $5,000 in savings isn’t some magic number, but it’s a great starting point. Use these five tips and you’ll be amazed how fast you can get there. You’ll sleep better knowing you have that cushion.
Then, you’ll start dreaming of $10,000. Am I right?
