Here’s your guide to saving 10K FAST

Saving this amount of money is not an easy task, but I will show you how to achieve that financial goal in this post.  Let's do it!

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Have you ever wondered how to save $10K fast? How to get $10,000 in savings? Is it possible to save that much money in less than a year? Money is not everything but it is an avenue to opportunity and many freedoms. 

Whether it is for an emergency fund, a vacation, a new laptop, a new iPhone, or a home, saving money for big and or unexpected expenses can be a huge relief financially and mentally. 

This post will teach you how to save the $10K fast in just 8 steps.

I am almost embarrassed to say that I did not understand the value of saving money until my mid-twenties. 

If you have read any other blog post on this website you know that starting now is better than never starting. 

And so in this blog post, we are going to break down the many different ways you can save your first 10K (or next) fast. Fast can mean many things to different people, and it’s going to depend on your current situation and your financial goals. 

I specifically wanted to save my first 10K in 3 months, I ended up saving it in 7 weeks, and although that sounds like an extremely aggressive plan and ambitious goal.

I no longer wanted to live paycheck to paycheck. 

And so I became laser-focused on the goal of saving that first bucket of money which is going to be funding my first ever emergency fund. 

This blog post is all about how to save 10K in 3, 4, 6, 12 months. Let’s get started crushing your savings goals one blog post at a time. 

Here at taking care of finance, we are committed to teaching you the way of financial literacy, shame and jargon-free.

But most importantly you get the details on how to achieve financial freedom from someone who is currently doing it.  

Now, you might be wondering why $10K is the magic number. Well, it is because that would get me 3 months of essential living expenses. My goal is to have 6 months of living expenses saved up. 

I have two small children so lots of unexpected things can come up and after what happened in 2020 I don’t ever want to feel the sense of insecurity I felt when I lost my job in March of that year. 

Your 10K can look different but before we break down the ways to save that money it is important we first understand the plan to save that money. 

You see, just thinking of saving $10K can feel daunting, intimidating, and impossible even, but what can help with that is breaking down the amount of time you’d like to give yourself to save that money and how much will you need monthly, weekly, or daily to save that by the time you have pre-selected.

Let’s say your goal is to save $10K in one year which will roughly be $833.3 per month, so you now know you need at least that $833.3 saved if you want to stay on track to achieve the $10K saving goal in 12 months. 

I get paid bi-weekly, so I often break down the monthly amount I need into two, so that it does not feel like this incredibly high number. 

Let’s do a quick breakdown of what that will look like, and you tell me in the comments if this makes it less intimidating and scary.

Seeing the numbers broken down really helped me a ton. Now that you have seen this for yourself, what is next? 


Here are some tips you have not heard of before when it comes to saving money fast. 

Unfollowed accounts on social media 

Going through the people you follow on Instagram, TikTok, and being critical of those that have a consumer-based focus (fashion, decor, food, etc), I noticed that I was spending lots of money on fast fashion items, nick nacks I did not even use and food that was not even good for me. So I unfollowed anyone that is constantly showing products for their audience to buy. Don’t get me wrong I think those accounts are amazing and they serve a very specific purpose, but in the journey of saving real money like $10K, I knew I was not going to achieve that goal as fast as I wanted to if I continued to give in to the FOMO I felt when I scrolled and saw something I bought impulsively. 

This does not mean that you can’t follow them again, but at least during the time you are trying to achieve your financial goal and if you are an impulsive spender like I was. 

Also, you have the option to mute the account’s posts if you don’t want to unfollow them.

Eliminated any unused subscriptions 

For this I used true bill for the first 2 months to evaluate which subscriptions I had and which ones I had forgotten about, not used often or were just not worth the monthly payment.

 For example, I had Spotify which was close to $15 dollars per month, and essentially what that subscription does is eliminate the ads while listening to music. 

At this stage of my life, I am not listening to music that much and so the $15 dollars were not justified, and I decided to cancel the subscription and put those $15 towards my monthly savings transfer. 

Again these measures may sound frugal, and I am not about frugal (the extremes) living, but this is a temporary measure for long-term satisfaction. 

I removed my most used shopping app off your phone 

As I was doing an inventory of where I was spending the miscellaneous money every month the top category for me was AMAZON, of course, it was. Anything you could ever want is on that app. 

And so, although one of the toughest things I did during this time, I decided that it would be best to delete the app from my phone as it was such a habit for me to check the app like it was a social media account. 

In that vein, I deleted Sephora and liketoknowit, not that I was spending that much money on those, but I did not want to have the temptation. Again recognize that I am an impulsive buyer and I need to remove all and every temptation.

Tried not to go to the supermarket while hungry
or tired sounds ridiculous right? Well, according to research people that go shopping while hungry tend to spend more money on more than just food. And I experience that myself.

I left the store with a shopping cart so full I could barely push it. It was embarrassing you would have thought I was going to feed a family of ten for like a month. 

So whenever possible my husband does the grocery shopping, one because I hate it and two because I tend to spend more than he would. Also, you can take a look at the services that some stores offer, like delivery pick up or Amazon fresh to get the groceries delivered to your home. 

Pick up an extra job 

I am sure you have already heard this one “embark on a side hustle”, and I used to frown upon that because how was I supposed to take a side hustle when I already work a 9-6 job and have two small children? 

But I gave it a try and in one month I made an extra $2900USD, and only had to work extra 5 hours per week, you can read more about that side hustle in this post. 

I only did that for a month or so because things got busy, but now I am trying to look for other ways to make more monthly income aside from my full-time job. One because I want to teach you more about that and because it could also support the financial goals I want to achieve at a faster rate.

[RELATED POST] Side Hustles to start in 2022

Embarked on a no spend journey 

Even if it is just for a month, I think this can be so eye-opening, if you are someone who is able to live and have extra cash left over from your paycheck, you can be more critical about where and how you spend that extra money and keep a tally of it at the end of the month. 

I did this in the month of February and I was able to chip away an extra $900 because I was not spending on things I did not actually need, that extra money was put towards my monthly debt payment. 

It is the little things that can help you achieve your biggest, most ambitious goals. 

Save unexpected income 

Last year I was fortunate enough to receive three separate bonuses at work, two that I did not expect, one was a holiday/wellness bonus, another was a peer bonus from a co-worker and the biggest one was for performance.

All of those combine added up to $3800USD and I put them directly to the savings account, although I wanted to go for a facial and buy a few other things, I restricted myself from buying those things because I knew my mental health would be in a much better spot if I were to have a much stronger emergency fund in place. 

Set up direct deposit 

If you walk away with anything from this post, let it be this point here. Setting up direct deposit is what made it possible for me to save up $10K in such a short amount of time. 

That money was being accounted for, and it was being deposited into a targeted account which did not allow me to make other plans with that money. 

Also given the busy lifestyle I have, it would be another excuse to not transfer the money because to be quite honest I often go days without checking my accounts since the days just seriously get away from me. 

This is the step of setting it and forgetting it. Automating your finances is the best treat you can give your future self.

Rapid fire tips

Pay yourself first – before you pay any bills, make sure you are putting some money towards your saving goals. 

Create and maintain a budget – you can’t measure what does not get tracked. So take charge of your money by knowing where it is going. 

Review and stay on top of your expenses – be mindful about your bills, are you able to lower some of them? Do you have any big expenses coming up? Have you planned for that?
Be sure to track and celebrate your progress – I am super guilty of just going through the motions when I am trying to achieve one of my goals, but these goals take a lot of effort, time, and dedication, so celebrating even the smallest wins will be so rewarding and extremely motivating to keep going.

Final Thoughts

Saving this amount of money is not an easy task, but think about the feeling when you do finally achieve that goal, it will make all the sacrifices worth it. 

And I can’t even begin to explain how much mental freedom you feel when you no longer have to worry about something going wrong and you not having the necessary financial means to take care of that thing that might go wrong. 

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