3 Ways To Save Your First $10,000

Adam Del Duca
9 min readDec 17, 2021
Photo by Alexander Schimmeck on Unsplash

For most people, saving up $10,000 would significantly improve their financial life. For instance, with that money, they could pay off their debts, cover their tuition costs or start their journey into the world of investing. In short, having access to this kind of money can definitely make life easier. The problem is, for most people, saving up five-figures seems like a near impossibility but I can tell you first hand that with the right savings approach in place it is entirely doable and what I am going to do now is share with you 3 ways you can do just that!

There’s no doubting the fact that saving money is one of the most important financial habits to possess. This is because, no matter how much money you make, if you fail to save any of it then you will never get ahead financially. As such, the advice to save your money is some of the most common advice that is bestowed by parents onto younger generations. However, even with this advice being shared to the masses, there are still millions of people who either ignored this advice, didn’t hear it in the first place, or did hear it but still haven’t managed to put it into action. This is why, recent studies show that the median savings balance of Americans is just $5,300.

I’m sharing this statistic for two reasons. First, it’s to outline how fragile most people’s financial states are. For instance with just $5,000 to your name, you are one bad car repair or broken appliance away from being broke so this is all to say that $5,000 in the bank is not sufficient! The other reason I bring up that stat is to show you that if you follow what I am about to tell you, then you will be well above the mean in terms of savings. Now, is saving $10,000 going to be easy? No, but if you want to be a cut above the rest then it takes the use of discipline and sacrifice but knowing you have cash on hand to cover emergencies, invest or even treat yourself from time to time will definitely be worth it!

With all this being said, let’s get into the three ways you can save your first $10,000 or, if you’ve already saved this amount to date, then your next $10,000 instead!

The first way you can start working towards your next $10,000 in savings is to go on the defensive. As you can probably guess, going on the defensive means that you are going to be aiming to…

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