Cutting down on a few purchases and becoming aware of where you needlessly spend money can bring about surprising results. Instead of hoping for a raise from your employer you can actually increase your disposable income without any suffering.
Here's a sample list to demonstrate. The estimated monthly savings is shown in brackets.
- Coffee $2 work days ($40) (drink water or bring coffee from home)
- Magazine ($5) (use the public library)
- Lunch out weekly $10 ($40)
- Trip planning for gas savings of at least $2.50 weekly ($10)
- Turn off all electrical when not in use for savings of at least $2.50 weekly ($10)
- Dry laundry 10 minutes in dryer and then hang to dry ($20)
These simple changes show how you can increase the amount available monthly for you by $125. This is a whopping $1,500 per year. Over five years that is $7,500!
More Ideas to Increase Your “Raise”
- make your own dog cookies (lots of recipes on the Internet)
- do your own home renovations - you save money and get exercise
- do you own painting and save thousands on labor (have a painting party); most major hardware stores offer free How To sessions
- Do you own landscaping - it's hard work but you get free exercise and the satisfaction of doing it yourself - How To articles on the Web can be useful and use the library. A little research can save you a lot.
- Read the grocery store fliers and stock up on food on sale that you eat regularly
- Use coupons
- Look up freecycle.org in your community - people post items they no longer want for free
- Buy roasts on sale and cut up for stew and freeze
- Buy ground beef on sale and package into 1 or 3 pound packages. Flatten with a rolling pin and freeze. They stack nicely in the freezer and thaw out quite quickly.
- Freeze leftover coffee in ice cube trays and transfer to a freezer bag when frozen. Find a Starbuck's Frappacino recipe on the Internet and save lots by making your own iced coffees at home.
- For a treat surf the Internet for copycat restaurant recipes and make them at home rather than going out and spending a small fortune
- Check out barter services on the Internet
- Visit a used book store to sell your books and buy your reading material at half the cost of new books
- Check the public library for a meter that allows you message the watts used on appliances in your home. Knowledge is power.
Scrutinize your home and your habits and you are sure to find ways to cut back a few dollars each month without feeling deprived.
Remember:
One hundred pennies make a dollar and you need to start with a penny to make a dollar.
