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In my last post I shared how you can create a very simple budget. There's a chance after you start living on a budget you'll realize you're actually spending more than you earn. Most people's reaction is either go in debt or cut out saving. Both of these are bad ideas. Let's look at a few different ways you can either cut back or earn more.
1. Say goodbye to Starbucks - If you're spending more than you earn and you're still buying that morning coffee, it needs to stop. Get your coffee fix before you leave home, and stop throwing away your precious cash.
2. Take your lunch to work - Eating out will cost you at least $5 a day. That's $25 a week, $100 a month, and $1200 a year. Let me tell you that bologna sandwich taste really good with an extra $1200 in your pocket.
3. Limit dining out - You and I both know those people who eat out 80% of the time. Then they wonder why they don't have any money. Cut your dining out in half. If your used to eating out 4 times a week, cut it to 2 or even 1.
4. Work overtime or get a part-time job - In this economy overtime may not be an option, but if it is, take advantage of it. If you're working 40 hours or less, consider getting a part-time job. My brother mows yards on the weekend to supplement his income. What can you do to make extra money?
5. Sell something - Do you have an extra car you don't really need? Maybe a boat or ATV. Consider selling it to get rid of the debt. If it's already paid off, sell it and pay on other debts. Have a yard sale. Do anything you can to raise money to pay off your debts.
If you're needing more ideas to save money, check out some of my other posts. You can learn how to save $50 a week, 10 tips to save on groceries, or how to make a side income with Ehow. Also consider a free subscription to my blog in which you'll receive my posts directly to your email. You can sign up on the right side of this page.
1. Say goodbye to Starbucks - If you're spending more than you earn and you're still buying that morning coffee, it needs to stop. Get your coffee fix before you leave home, and stop throwing away your precious cash.
2. Take your lunch to work - Eating out will cost you at least $5 a day. That's $25 a week, $100 a month, and $1200 a year. Let me tell you that bologna sandwich taste really good with an extra $1200 in your pocket.
3. Limit dining out - You and I both know those people who eat out 80% of the time. Then they wonder why they don't have any money. Cut your dining out in half. If your used to eating out 4 times a week, cut it to 2 or even 1.
4. Work overtime or get a part-time job - In this economy overtime may not be an option, but if it is, take advantage of it. If you're working 40 hours or less, consider getting a part-time job. My brother mows yards on the weekend to supplement his income. What can you do to make extra money?
5. Sell something - Do you have an extra car you don't really need? Maybe a boat or ATV. Consider selling it to get rid of the debt. If it's already paid off, sell it and pay on other debts. Have a yard sale. Do anything you can to raise money to pay off your debts.
If you're needing more ideas to save money, check out some of my other posts. You can learn how to save $50 a week, 10 tips to save on groceries, or how to make a side income with Ehow. Also consider a free subscription to my blog in which you'll receive my posts directly to your email. You can sign up on the right side of this page.
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