You’ve talked about it for years — starting a rainy day fund. But, you’re not making any progress. How do you get started? Here are a few ideas.
Switch Auto Insurance Companies
Craig, Kelley & Faultless, a car accident attorney in Indianapolis, says that many insurers don’t like paying when it’s time to shell out money for a claim. If you’re paying a high premium on top of shoddy service like that, then you’re really getting taken advantage of.
Switching insurers is always an option. Do some basic investigative work to figure out which insurers have the best customer service. Switch to those insurers and move your homeowner’s and other policies with them to get a bundled discount rate on all insurance policies.
You probably have more junk than you need laying around the house. If you find yourself in a bind, you’re not going to need all your stuff. Pair things down until you’re at bare essentials. Hold a yard sale. Don’t hang onto things because you’re afraid of not getting what you paid for it. You’re probably not going to anyway. At least get some money back out of your toys.
Get a Second Job
It doesn’t sound like much fun, but it will bring in extra money when you need some. If you’re struggling to make ends meet, you probably have some time on your hands. Go work for McDonald’s or deliver pizzas on the weekends. Wait tables, or clean houses. Stock grocery shelves at night.
You’re not “too good” for any of these jobs. If you were, you wouldn’t be in a financial bind. It’s a tough pill to swallow, and maybe a little bit harsh of a thing to say. But, you must be brutally honest with yourself about your finances. If you don’t have money, you don’t have money.
Taking up a second part-time job might be the best thing for you right now.
If that part time job pays $10,000 a year, that’s $10,000 you can put towards debts. That can pay down a substantial portion of your bills very quickly.
Work From Home
If you don’t want to go out to get a second job, consider working from home. Offer babysitting services or after-school care for other parents. If you’re good with computers, you could become a virtual assistant. If you’re handy with a sewing machine, you could offer tailoring services.
How To Save Money On Utilities
There are lots of ways to save money. One of the easiest is to modify your utility usage.
If you’re spending too much on air conditioning, water, phone, or cable, consider making cuts. Pay closer attention to how you use utility services at home. If you don’t watch a lot of T.V., consider cutting the cable. If you’re getting a second job, you won’t have time to watch it anyway.
Install LED bulbs or use candles at least one night of the week. Go to bed earlier so that you don’t need to use electronics at night.
Don’t Eat Out
This is tough for most people to do because it’s easier to pay someone else to cook for you. But, cooking at home is almost always cheaper, and healthier. All those quick and easy meals add up to a lot more than what you’d spend if you just did basic grocery shopping and ate at home.
Nicole Bird is careful with her cash, and has learnt to love her budget after many years of loathing it and falling into debt. She shares her knowledge and tips online through her articles.