Getting more money to do what you want – travel, open a business, expand your book collection – can seem daunting. Before you apply for a second job or start a time-consuming side hustle, make sure you’re keeping as much of the money you’re earning as possible. Make sure you’re not throwing money away in any of these ways!
1. Finance Charges
Any time you carry a balance on a credit card, you’re paying for that privilege. Dearly. Concentrate on paying your cards off. Then, only use them if you can pay them off in full each month. Once cards are paid off, look at other loans you might have and work on paying those off as fast as possible.
2. Paying for Services You’re Not Using
Unlimited data. 200 television channels. Gym memberships. Anything you’re paying for, but not taking full advantage of, is costing you money that you could be using elsewhere. Take an hour or so and evaluate the things you are subscribed to/members of and make some decisions. If you aren’t utilizing it, downgrade, cancel, or let it expire. Use the money you save for something you really want to do!
3. Your Commitment to Name Brands
Many store brands are made in the same factory as their name brand equivalent. Most are almost identical in taste and appearance. The only difference is that you’re going to pay more for the name brand version. Don’t pay more just because something is in a different box! Work in a few store brand versions whenever you do your shopping. I think the only difference you’ll see is in your wallet!
What are some of your favorite money-saving tips? Tell us all about it in the comments or over on Facebook!