Inside: Saving your first $1000 can feel impossible — especially when you’re starting from scratch or juggling debt. These are the exact steps that helped me save $1000, build momentum, shift my mindset, and eventually save tens of thousands.
When I first started paying off my consumer debt, I knew I needed a quick win — the slog of debt repayment was brutal.
Working four jobs (full time office job, part time weekend job in a shop, bar work for events and casual babysitting) just to make loan payments was exhausting, but I decided to start saving, even if it was just $10 at a time.
Each week, on my bank visits to pay off credit cards, I’d tuck away a small amount into a high-interest savings account.
At first, it felt pointless; I had no goal other than to see something positive in my account to balance out the debt. It took months before I felt like I’d made any progress.
As my debt shrank, I gradually increased my savings — $20 here, $35 there — and made rules like putting all babysitting income straight into savings.
Once a loan was fully paid off, I bumped my savings deposits up while continuing to chip away at remaining debts.
Even though the interest I earned on savings was less than what I was paying on loans, that growing balance gave me peace of mind.
Having a savings habit already in place meant that once debt was gone, I could immediately focus on building my savings — redirecting the money I’d used for repayments into my savings account and adding more when possible.
Why $1000?
Before we dive into the how, let’s talk about why this goal matters so much:
- It’s achievable – Even if you’re on minimum wage, you can save $2–$10 per week and get there in time.
- It’s empowering – Reaching $1000 makes you feel in control. It’s a major mindset shift.
- It builds habits – Once you’ve saved $1000, you’ve proven you can save $2000… or $10,000. The systems are in place.
When I finally saw $1000 sitting in my account, I felt invincible.
That money gave me options — and the confidence to keep going.
10 Realistic Steps to Saving Your First $1000 (From Zero)
Here’s how to get started, no matter your income or financial situation.
1. Open a Separate Bank Account (That You Can’t Easily Access)
This is the very first step I took — and it made all the difference.
Set up a savings account with a separate bank, ideally one that takes at least 24 hours to access the funds.
That small delay makes impulse spending less likely. Out of sight = out of temptation.
You’re creating friction between you and your savings — which is exactly what you want when you’re building discipline.
2. Start Small — Just $10 a Week
Like I did, make a rule to deposit a small amount regularly – ideally on payday.
It doesn’t matter how little — just start and be consistent.
Those tiny deposits add up and build momentum.
3. Add a Savings Line to Your Budget
Treat savings like a non-negotiable bill.
Adding it to your budget and paying yourself first will keep your saving habit on track.
4. Cut One Small Daily Habit
For me, dropping my daily raisin toast from the coffee and raisin toast combo I had each morning saved $6.50 a week without sacrificing my much-needed coffee.
Pick one habit to cut that’s easy and painless and transfer the money you save into your savings account.
5. Meal Plan to Cut Your Grocery Spend
Meal planning saved me $30–$50 weekly. Start with two weeks planned and repeat to buy in bulk and waste less.
I have some good tips to start meal planning here.
6. Sell Something This Weekend
Even if you don’t think you have much to sell, look around — old clothes, books, gadgets — and list them.
It’s quick cash and less clutter. And remember to put the proceeds in your savings account.
7. Take On a Side Gig — Even a Small One
At one point, I juggled four jobs. Whether babysitting, dog walking, or weekend shifts, extra income can boost your savings faster.
These articles detail more side hustles depending on where you are located:
- 39 Side Hustles to Make Extra Money in New Zealand
- 50 Side Hustles to Make Extra Money in Australia
- 30 Ways to Make Extra Money in the US
- 44 Ways to Make Extra Money in the UK
- 25 Side Hustles to Make Extra Money in Ireland
8. Use Free Gift Cards to Boost Your Balance
Survey sites like Octopus Group, Opinion World and online focus groups like Respondent pay you in gift cards for surveys and other small tasks.
It won’t replace a job but can add small top-ups to your savings.
9. Give Every Dollar a Job
Assign every dollar a purpose. When I was paying debt, 90% of side earnings went to loans and 10% to savings — building the habit early.
For example, if I’d earnt $40 from babysitting – I would pay 90% of $40 = $36 towards debt and 10% of $40 = $4 towards savings.
10. Track Your Progress Visually
Use a savings tracker or chart to colour in as you go.
It makes progress fun and motivating.
Remember to immediately deposit any extra funds you’ve earned or saved directly into your savings account – don’t let them linger in your everyday account or wallet – you’ll be tempted to spend them and we don’t want that!
Saving Money and Paying Down Debt Can Coexist
Most people think they have to wait until all their debt is gone before they’re allowed to save.
I disagree.
Even while paying down thousands in loans, I saved just a little each week.
And once I became debt-free, those savings habits were already in place — so I could build fast.
That first $1000 changed my life. From there, I saved $10,000 to backpack Europe for two months.
Later, my husband and I saved over 50% of our income for years, bought investment properties, and built real financial freedom.
But it all started with ten bucks a week and a high-interest savings account.
