Wouldn’t it be nice to have the security of a cash cushion? To be living on last month’s money instead of counting down the days to your next paycheck? The typical response?
How the heck can I do that? I can barely make ends meet as it is!
It may seem that way to start, but I’m going to provide you with a few money saving ideas (also, some money earning ideas) that will get you to your one month’s expenses in no time.
Ideas are Easy, Implementation is Hard
Alright, let’s get one thing right out in the open: this is not going to be easy. You’re going to really have to get radical in order to pull this off effectively. You cannot expect to reach a whole month’s worth of expenses by just haphazardly putting money away now and again. No way – no how. You need to get INTENSE in your desire to stop living paycheck to paycheck and reach deep down inside your soul for some major resolve.
You’re about to do what 70% of Americans cannot manage to do. Live below their means, save for a rainy day, and get out of the paycheck to paycheck cycle.
I’m providing these money saving ideas for you to implement not mull over! You must ACT on these ideas! ACT!
14 Ways to Save More Money
- Work overtime. If your job allows it, put in as many hours as you possibly can until you get your #1 fund. Remember, this is a temporary fix for a long-lasting solution (no longer living paycheck to paycheck). You may see a bit less of your family for a short time – but that’s okay. What you’re doing for your family in terms of getting your finances in order has a much more profound and far-reaching impact.
- Get a part-time job. You can make a thousand bucks a month delivering pizzas. Do that for three or four months and you’ll have your #1 fund. Be diligent and have a smile on your face (more tips)! Check out possible temp jobs, graveyard shifts, UPS, etc.
- Start a small business. Some people laugh when I share this idea with them. I don’t say it to be funny. I have a cousin that built up a lawn care business in one summer. It’s been a couple of years since he’s put anything into it, and it still makes him money every month. Imagine what it could be doing if he was actively going after it? If you mow 8 lawns for 8 weekends at $20 a pop you’ll have a nice stash. Don’t forget car washing, window washing, dog walking, etc.
- Have a garage sale. That’s right – get rid of the junk you don’t need but think you might. Sell everything you forgot you had. People sometimes make enough from their garage sale to save some major money toward their #1 fund. Typically you make between $500 and $800.
- Ebay. Like a garage sale, but with a wider audience. If you don’t know how to ebay, ask the person next to you. They’ll most likely know how and will be able to help you.
- Car pool. Gas prices are high right now. Sure it might be a bit inconvenient, but imagine if you could cut your gas bill in half!?
- Brown bag it. Don’t eat out – at all. Remember, a short-term solution for long-lasting blessings. Sacrifice. (You’ll probably trim down a bit too – I know I tend to trim up if I eat out a lot).
- Cash in vacation. Sacrifice a few vacation days for your peace of mind. Many employers will allow you to ‘cash out’ of vacation. It’s a great way to get some cash.
- Save all windfalls. You do get windfalls. They happen. Stash ‘em.
- Stop contributing to your retirement. Here’s where I usually get a bit of backlash from people. You are talking to a guy that knows the value of an invested dollar. Trust me. But remember, these money saving ideas are not long-lasting, permanent changes you make to your finances. They are short-term ‘bursts’ of financial feistiness that will get you to your #1 fund that much faster. Once your fund is in place, you can immediately begin contributing toward retirement. Email me if you have a question about this.
- Cut your phone bill. Consider cutting your phone down to the very basics. Do you have a cellphone where you could get out of the contract inexpensively? Remember, short-term solution for long-lasting peace.
- Dont’ buy bottled water. Seriously.
- Don’t go to the mall. Seriously.
- Cancel cable, satellite, etc. Seriously.
These money saving ideas will get you toward building a healthy savings cushion than you can truly appreciate until you have actually lived this.