Saving money isn’t easy, but it’s essential to achieving financial security. Earlier this decade, people tapped into their home equity and credit cards to keep up with their spending habits. Now, slumping home values and a credit crisis have caused people to find other cash sources. That’s a good thing, because too much debt isn’t a good thing!
So let’s talk about saving some cash. You need to establish an emergency fund to take care of unexpected events. Don’t know if you’ve noticed, but unexpected events occur each month…..so there’s no big revelation here on the need for this fund. Setting a goal to establish a balance of $1,000 in only one month might seem like a tall order, but once you get started and stay committed, you’ll find that it’s not as bad as you might think.
To make it happen, you’ll need to go beyond the obvious savings path of cutting back on the latte’s and dumping all your movie channels in order to make good on your commitment to save $1000. Call it your Mad Dash to Stash Cash.
There’s a lot you can do to trim expenses, but how about finding additional cash? Could it be that those much needed dollars are just sitting there, waiting to be stuffed in your pocket?
It’s time to sell some things & do a few odd jobs.
Sell Things
A garage sale is a great option, but it doesn’t have to be your only one. By selling things today, you can easily add to your emergency fund. It couldn’t be easier these days with websites like eBay or Craig’s list, which is a free service. Sell some of the things you just don’t use anymore – they’ll be useful to someone else that will gladly pay you to take them off your hands. Some suggestions follow:
- You might have needed the latest and greatest techno gadget, but if you bought a new camera it is time to sell the old one.
- Your aunt bought you a sewing machine that has only one accomplishment: collecting cob-webs. Auction it off on e-bay so some lucky seem-stress.
- Have the rims, but can’t afford the tires? Post them on Craig’s List and get your money back out of that garage ornament.
- Time to end the shoe fetish or purse addiction. Sell ‘em off.
- Got some sticks in the garage that don’t see the fairways? Give them up and save on green fees.
- Old bicycles, gym equipment, tools…..you name it. It’s probably sitting there waiting to be turned into cold, hard cash.
Odd Jobs
Look at your skills and think about how you can use them to earn some extra income. Think about what you are good at, enjoying doing, fits your schedule and your current job; or is an absolute need in my area? People are looking to save money these days and you could be the answer by offering personalized discounted services. Here are a few suggestions:
- Good at Honey-Do’s? Become the local handyman/woman with simple marketing. Drive around the neighborhood and offer to paint shutters, stain the fence and clean the gutters. Do a great job and the referrals will keep coming.
- Love animals? Start a dog walking service or dog sitting service.
- Love kids? What parent wouldn’t want a more experienced sitter than their 15 year old neighbor?
Many things you like doing can be turned into a small business that will earn some extra dollars on the side.
{ 7 comments… read them below or add one }
All of the above are wonderful ways to make a little extra cash. In the first part of the Frugality Game, I was able to start making and selling some hats. I had many trims and fabrics in my cache left over from older projects and a friend also generously gave me leftovers of hers to work with. The result? I started a tiny little “business” of a few hats here and a few hats there. Hence, a tiny little bit more cash and a tiny little …… Granted it isn’t much but at least all those lovely trims and fabrics have not gone to waste and those who got my hats got a new look along with a bargain.
That’s great! What an awesome way to earn more money using your talents!
The Craig’s list thing really works. I sold my Wii and a large screen TV for extra cash to pay to get my car fixed. The Wii was a gift to me and I never used it. I plan to sell more. I have been going through the house and simply setting aside anything I have not used in a year.
We take out a certain amount of cash each week for all our expenses – groceries, gas, entertainment, etc. That’s it – no charging. Then, we keep it in a cup in the kitchen and only take out as we need it. When the week is over, we put any leftover money into an envelope and use it for vacation. One year we saved over $700!!
Before I moved back home to Northeastern New York I had my own business as a psychic. I never really charged for my services, if you could afford it, it was $20, if not and you could afford to bring me a bagof dry cat food a pack of smokes some dish soap and bread, whatever I needed at the time. Once it was hangers, I needed extra hangers,lol! Never had a complaint about my prices or my services! Maybe, just maybe I should think about reestablishing myself An add in the daily paper and one in thePennysaver and that should be all it takes. I did start when I moved back here, but never followed thru seriously, I just wanted to rest, needed spiritual personal growth time. Now I am ready to get back in the water and start swimming. I have the reputation, (I’ve been known to make $300 in a night for a special occasion), the skill, the confidence, the spiritual support I require, I can do this! I certainly am going to give it a go. I’ll let you know how it works.
Maureen
Having a garage sale is an excellent way to make extra money. i had one about 2 weeks and made over $200.00 dollars! Can’t wait until the nest one. This time I will list it in the pennysaver.
That’s great! Way to go.