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Saving up an extra thousand dollars can be important for being able to pay bills, taking a vacation, or making a big purchase. It always helps to have some surplus funds in your bank account, just in case there is an emergency or some other unexpected cost. Thankfully, there are some easy ways to do this without stressing too much or taking on a significant amount of extra responsibility.
This is one of the most obvious ways to increase income and now it’s easier than ever thanks to the internet. Ride sharing apps like Uber and Lyft allow you to use your car for additional income, while other common tasks like babysitting, dog walking, and grocery shopping are now outsourced through many applications. Income from side jobs can vary, but you should be able to make at least a few hundred extra dollars a month at minimum if you work consistently.
Things like unplanned food purchases in restaurants and fast food places, or long nights out often end up being huge budget busters. Try staying in more often rather than going out while you are trying to save. For example, if you spend $100-200 a week on things like going out to eat and entertainment, your disposable income can become one thousand in savings over the course of several weeks of cutting back.
This is one option for making extra money that has not changed much over the years. You can either go online or to a local venue like a flea market to sell things you do not need anymore. Items such as clothing and shoes, movies, video games, and books are almost always in demand and some people may have more valuable antiques or collectibles that they can afford to let go when getting extra money becomes a priority.
People often sign up for various monthly subscriptions like a gym membership, premium cable channels, extra services on a cell phone plan, and other recurring charges for things that they rarely or never use. It can be helpful to look through you credit card statements and bank accounts to make sure you are not spending somewhere between ten and a hundred dollars a month on each individual service or subscription, especially if it is something you do not need anymore. Many of these companies depend on the fact that a significant number of consumers forget about their service after the initial transaction, and they constantly get money flowing in through re-billing until cancelled.
A great way to save extra money is to stop paying high interest on your credit card debt. Tens or even hundreds of dollars could be back in your pocket each month. If you need help with debt, don’t hesitate to check out a reputable debt relief service. Companies like Freedom Debt Relief can help you get your debt under control so you can get back to your life. Check out our in-depth review of Freedom Debt Relief vs National Debt Relief to see which is the right fit for you.
Remember, saving an extra thousand dollars doesn’t have to be impossible. You just have to be strategic, using the tips above.