Financial Tips
How to Save Money : Putting Needs Before Wants
Money flows into your household and money flows out. If you’ve been cutting expenses but still experiencing debt management issues, maybe you need to bring more money in.
Don’t automatically think big. If you’ve been able to cut some expenses, even a little extra income could make the difference with debt management. Keep your day job, but look for ways to make more money in your spare time. Here are some creative suggestions from the experts at Credit Counselors:
De-clutter and make money. We all accumulate stuff we don’t need, everything from furniture and toys to sports equipment and video games. Sell it! Have a yard sale, put it in the classified ads, or, if it’s a reasonably valuable item, consider one of the local shops that handle items for online auctions.
Cash on wheels. Do you need your car, or all your cars? They’re a big drain on your household budget. Consider public transportation or car-pooling. If that’s not a good option, trade for a cheaper, more fuel-efficient car.
Find part-time or seasonal work. Businesses are often seeking part-time help, especially during the holidays. If you live in an area with seasonal attractions, such as the beaches or skiing, those may be opportunities for part of the year.
Use your talents. What do you do well? If you can bake, sew, or take pictures, those all are skills that can be turned into cash. Parents always need reliable babysitters; house-sitting and pet-sitting are growing needs, too.
Housecleaning. Many people don’t like housecleaning and would be happy to find reliable help. Take only as much work as you can handle, and the hours are flexible. The same applies to home maintenance, such as cleaning out gutters and putting up storm windows.
Lawn maintenance. Like housecleaning, many people don’t enjoy doing this. With the willingness to work hard and a minimum of equipment, you can make good money at yard work. The same goes for clearing snow from driveways in the winter.
Tutoring. Consider tutoring students for extra money if you have the qualifications. Check with a tutoring service to find out what they need.
You can earn extra money with any of these, or come up with an idea of your own. There are millions of people and businesses looking for help with all kinds of needs. Post flyers if necessary at your grocery store or church, or place classified ads.
Professionals at Clearpoint Credit Counselors have a suggestion: When that extra money does start coming in, put it towards debt reduction or bills, don’t buy more stuff!
