> Step 1 - Evaluate Your Expenses
Make a list of all your expenses. Mortgage/rent, utilities, car payments, student loans, insurance, gas, cell phone bills, groceries, hair salon, sporting events, trips to the movies, etc. Where is all your money going? Anything look like it's just too much?
We recently reevaluated our expenses at home. We realized that our cable bill (internet & cable TV) was too high. The monthly bill just slowly grew with changing rates, fees, taxes, or whatever. We didn't have additional services added or use pay-per-view services. Initially, we made the necessary adjustments, thinking we just needed to budget a little more, but the bill had eventually grown to cost too much. It was no longer worth the price we were paying. We needed to make a change.
> Step 2 - Cut Back
Eliminate unnecessary expenses, and lower other costs that are keeping you from reaching your goals. Call utility companies, see if they can decrease your rates. Are there some services you simply don't need? Cut back on those unnecessary costs! Be cents-able!
You know that rising cable bill I was just mentioning above? When this happened in the past, we simply asked for a better rate. We were able to take advantage of a promotional rate at that time. However, after several months, the rates went up again. (In case you're curious, the bill started at about $89, growing to just over $100 after the promotional period was over. Within a few months it grew, then it grew some more, all the way up to over $140/month!) So at this point, we decided to look for other options. We discovered a satellite dish TV service, basic phone line, and DSL for Internet would provide us the equivalent of what we had before for just $89. Well, after deciding to go this route, we got our last cable bill - it finally surpassed the $150-mark. So by switching to different services, we are now saving $60/month!
> Step 3 - Earn More
Earn more? But I already work 40+ hours per week! You want me to get a second job?
Well, maybe - but not necessarily. How much money do you need, and how quickly do you need it? If you still need a lot after cutting back all you possibly can, than yes, get another job - but think about what it is you can do. Maybe you can just request overtime hours where you already work... in most cases you'll be earning time-and-a-half, which is a fantastic value! Or maybe you can look for other work, tutoring, baby-sitting, pet-sitting, cleaning houses, landscaping, etc...
Though some may not need a regular paycheck for more money. There are lots more options.
Over the years, between college and previous jobs we've had, my husband and I found that we collected a lot of books. We tried selling them at yard sales, which was fine for some books. However, we had a lot of text books and reference books. Those are more valuable. We turned to the Internet and started selling them online. We did it for a while, earning $100 or more extra per month, and even more right before Christmas. However, when we got busy, we just set the business on "vacation" mode - no problem. That's something you can't just do with any old job where other people are depending on you to meet deadlines.
Sometimes, however, you can actually get paid to do things you already do. Did you want to read that statement again to let it sink in? You can get paid to do things you already do:
- Do any of your credit cards have rewards programs? If so, use them to your advantage. As long as you are setting the money aside to pay the credit card bills in full at the end of the month, go ahead and charge everything you can on these rewards cards to maximize your rewards - gas, groceries, and sometimes even utility bills can be charged.
I have a credit card that earns me between 1-5% cash back on purchases. Besides just getting cash back, I could put the reward money toward paying my bill, giving to charities, or increasing the value by getting gift cards - which is my favorite reward. Every few months, I order gift cards for stores or restaurants. Within a couple weeks, they arrive in my mailbox, ready to be used! Sometimes I like to save these for vacations when I know we're more likely to eat out. On occasion, I've also given these out for gifts. - Are you a very opinionated type of person? Try survey websites. You may be able to take surveys and get paid to do them! Just make sure you research them thoroughly first. Here's a few places you can try...
- Opinion Outpost
- Swag Bucks
- MyPoints
- Do you surf the web? Get paid to! That's pretty simple, isn't it? If you join the following programs and use download their search bars, you can earn toward rewards (again, gift cards) just by searching the internet via their search engines!
- Swag Bucks
- MyPoints
