5 Ways to Save While on a Strict Budget

Whether you are living off of wages that you feel could be higher, or do not have much leftover due to being on a strict budget, there are always ways to reduce spending so that you can gain a few extra bucks at the end of the month.  Once you have accounted for every dollar that comes in and goes out, you may have to think outside the box when it comes to saving extra money if you feel that you have reached your limit in getting rid of unnecessary expenses.

Pay Off Debt First

It may seem like common sense to pay off dent, and you might be thinking to yourself that you are already doing that but where do you get more money to do that?  Well basically any money that you have besides a necessary expense such as your mortgage, utilities, or food should go towards debt before anything else.  When I say food, I also mean grocery shopping for the necessities, not eating out or impulse purchases at the register.

Look for an Alternative to Daycare

Being a new parent I never paid attention to the prices of daycare until I had to enroll my child into one, and for those of you that do not know, it is ridiculous.  The daycare at my wife’s work is $63 per day which includes food and diapers, but for a newborn, diapers, maybe.  Let’s say this is every work day for a month, that is over $1200 a month.  If you can find a trustworthy family member to do it for say even $40 a day, that is around $800 a day, which gives you an extra $400 a month!

Sell Unused Items

If you are looking for extra money, look no further than what you probably have packed away in your house.  Try coming up with a rule of thumb, if you have not used the item in the past year, sell it, and see how that works.  If you do not have any high-priced items to sell online, then gathering your household items together for a garage sale might be a good way to get some extra cash together.  You can probably scout out items from family members too that they want to get rid of and have you sell.

Three’s Company?

A good way to bring in an extra few hundred a month, not to mention sharing utilities, whether you bring that into the overall cost or not, is getting a roommate.  Sure, you may think you left that behind in your college days, but back then your parents were paying, and now if money is tight it may be a great way to come up with some extra cash.

Trade Down

Take a look at your house and car.  Is your house too big for what you need and can you downgrade to say, a ranch?  Then maybe it makes sense to sell.  For your car, if you need a new car every few years with a lease, can you take a step down that may save a hundred or two a month?

Cosigners or Collateral? Weigh Both Properly When Seeking A Loan

Borrowing money is something everyone has to do at some point. Not everyone, however, presents the same level of credit-based worthiness and risk to a lender. While lenders are in the business of issuing money at interest, the lenders do need to take extra precautions when someone has weak credit. Borrowers are not entirely concerned with the business matters of lenders. They would just like to collect the funds they ask for. Things are not always so simple. Sometimes, extra steps are required to garner an approval.

Two very common approaches are employed by those who may not otherwise be …

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4 Ways to Be More Financially Responsible

If you actually sit down and look over your finances, first adding up how much money comes in each month and then totaling the expenses and spending that occur, it probably will leave you sick to your stomach.  It is never too late to start being a little more financially responsible.

Set Up an Emergency Fund

Experts have said that you should have at least three, even up to six months of reserves sitting in an account just in case you have a sudden need of cash to pay for say an auto repair, or replace a TV or refrigerator, …

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4 Easy Steps to Reduce Payments on Your Debt

This is a guest post from Pauline of investmentzen.com

We have all been there. Debt payments are creeping up, and it is starting to get hard to keep up with them.

Whatever the reason you got indebted in the first place, this is not the moment to blame yourself, or to give up. It is time to take action, to make sure it doesn’t happen again, and you get back on track for a solid financial future.

Paying of debt is tedious. It’s like losing weight. You enjoyed that meal last week, but you don’t really want to spend your …

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5 Things You Should Buy Using a Credit Card

For some may be a little leery about using a credit card, after all, all these years growing up it was always embedded into our heads that putting something on a credit card meant that you did not actually have the money and you were sort of kicking the can down the street, if you will.  That outlook has definitely changed over the years, and not only does putting charges on your credit card mean you do not have to pay until next month (and yes, make sure you pay off the entire balance by the due date to avoid …

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Wise Vacation Investments That Make Travel More Affordable

“Travel is the only thing you buy that makes you richer.” Those wise words came from an anonymous source, but they apply to everyone. Too often people think that buying things will make them happy when in actuality experiences are a much better investment.

Research supports that vacation time provides more happiness and satisfaction than anything else we can buy. Longevity is a key factor. When we buy things the joy quickly fades after the register closes. The memories from experiences, however, usually last a lifetime. Even a short weekend trip is enough to spark a meaningful adventure you’ll tell …

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Avoid These 5 Things to Save a Little Extra Money

It can be tough to have a little extra money left at the end of the month after paying bills, contributing to savings and retirement accounts, while budgeting for grocery, gas, and spending money.  If you are even coming out ahead you are doing a great job, but there are a few, if you think about, really unnecessary expenses that we continue to shell out money of each month, draining our accounts.

Cable TV

If you think about how many channels you pay versus how many you actually watch, and how often you even watch those channels, it can be …

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How to Improve Your Credit Score Starting Now

Your credit score is the first impression of you when it comes to lenders, and it can tell a lot about you, if you are a responsible borrower, or if you do not take your finances seriously.  Whether you already have great credit or you are in need of improvement, you should always strive for the best to take advantage of the best rates on the market.

Take a Look at Your Credit Report

The fastest way to improve your score may just be because of misinformation on your report that needs to be cleared up.  You should at least …

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5 Smart Ways to Use a Tax Refund

Tax time can be a little stressful.  It is when you take a look at all the documents, expenses, and hopefully receipts, over the past year to see where you fall.  The goal would be to have a $0 refund, which meant that you paid enough taxes during the year and received the most in your paycheck, but if you are lucky to get money back, try and spend it wisely.

Home DIY Projects

If you have not already been thinking what you wish you could do around the house if you magically came across some money, well this is …

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5 Hidden Fees to Watch Out For that Could Be Adding Up

As if we do not have enough everyday expenses that add up to huge monthly costs that eat up our paychecks and hold us back from building up that retirement savings.  Sure, it is our own fault it we splurge on spending and not focusing on sticking to a budget, but some are just unavoidable that are not displayed in the beginning, but give a huge shock when the final total is added up, so keep your eyes peeled at some of the common hidden fees.

Event Ticket Purchases

Take it from someone who attends a lot of concert and …

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