This Google search string that landed on my blog yesterday got my attention. I don’t know what article the searcher landed on, but check it out:

how to save 10000 in one year.

Is it really possible to save $10K in one year?

Hmm. If you find ways to save or cut $833 a month or $192 a week out of your household expenses, it could be done:

  • Did you pay off your house? That would do it.
  • Do you have two cars whose loans are now paid off? That would almost do it.

But let’s be honest: Most cost-cutting steps (see my Downsized Budget section) that are realistic for working class and median income southeast Michigan families will have much smaller impacts. The median income in Monroe County is only in the mid-50s to begin with. Cut $10,000 out of that, and a family of four is eligible for some public assistance programs.

If you really want to boost the cash flow difference by $10K a year, I think the direction you want to take is seeking out a better-paying job or a second gig.

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