It’s Time To Save Money For An Emergency
When you think about it, there are many ways to save money for an emergency.
Some ways to save those pennies will require some sacrifice, while others will require little before thought.
The point is to be forever mindful of saving those extra pennies and before you know it, you will have saved up a nice sum.
- Spend less money than you earn each week.
- Seek out a higher paying job.
- Keep your job skills sharp and up-to-date so that when a new opportunity comes up, you will be on your toes and first in line.
- Adjust your lifestyle to always spend a little less.
- Create a firm financial budget to encourage saving.
- If you must use credit cards/cut up those you can do without.
- If you must use credit cards, limit yourself to one or two, while paying off the rest.
- If you have credit card debt at high rates, consolidate at once.
- Figure out a way to lower your student loan payments.
- Just say NO to spending money whenever possible.
- Lower your expenses, one by one.
- Stop purchasing items that you can do without.
- Forego purchasing non-essential items.
- Refinance your mortgage or debt at a much lower rate.
- Refinance your car loan at a much lower interest rate.
- Find cheaper insurance rates/then switch over.
- Use coupons to shop with. Don’t purchase without a discount coupon.
- Wait for things to first go on sale before buying. Take advantage of catalog saving certificates.
- Don’t buy an item just because it is on sale.
- Buy generic or non-name brand merchandise as much as possible.
- Wait for prices to fall to a discounted rate before buying (applies especially to electronic items).
- Reward yourself for saving money. Enjoy as your debt shrinks and your investments grow.
- Drive used cars or leases rather than brand new cars, and you can drive a new car every two years.
- Reduce your auto insurance.
- Don’t eat out as much as you’d like to.
- If you do eat out, buy gift certificates for half price meals.
- Buy only discount magazines.
- Do more stay in activities at home.
- Invest the money you save to earn even more.
- Create a plan to save $200 each month (as much as you can manage.) Never miss the monthly savings payment to yourself and try to find ways to increase it.
- Don’t spend money just because you have it.
- Look into getting a better quality education.
- Stay very busy—you will have less time to spend money.
- Find an interesting hobby to occupy your time and stop you from spending money.
- Find a hobby that you can turn into earnings. Start an affiliate website/blog about your hobby if the niche has a lot of rabid fans.
- Stop smoking and bank the savings.
- Go to food pantries to get your groceries. You will save money on food, and your long-term grocery costs should fall dramatically.
- Look carefully at how you spend and save your money.
- Learn how to manage your finances by reading financial publications and listening to financial shows such as RayLucia.com.
- Increase the amount of money you earn through a second job, promotion, new job, investments, etc.
- Don’t try to compete with your friends and neighbors. Be satisfied with what you have.
- Don’t compare yourself to your friends and neighbors. Be happy being you.
- Sell your car and take the bus to work if you can.
- Contribute the maximum each year to your 401K or to an IRA.
- Buy dental insurance before you need it.
- Buy health insurance before you need it.
- Paying down your debt is also a way to save money (it saves you from a debt payment and brings you closer to having money to invest).
- Switch to lower your landline/smartphone bill.
- Lower your cable bill by deleting pay channels or switch to satellite. Better yet, get a “free tv” antenna.
- Practice restraint at all times.
- Be patient when bargain shopping.
- Start saving money today!
- Don’t give up — put just $10 aside, today!
Author’s Info: Tonza Borden is a 20-year finance and digital marketing expert with a passion for coaching and training. She is also an advocate for people with disabilities and the working poor. Visit her website at RuralMoney.com for exclusive community resources and strategies for your financial future. Google+
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