‘Broke’, is this the word that made you read this post? If you are perusing this blog then there is a good chance that you are teetering around the poverty line.
In case you have been finding hard to make your ends meets for quite a while, then you must have grown sour and jaded by pieces of advice on saving money but they just won’t work because they all suggest you to maneuver something outside the box, when you are not in a position to make any stride.
Thankfully, you have come to the right place. Your reliance on us to steer you clear of all troubles won’t go in vain. We understand how it feels to be broke because even we have seen gloomy days (everyone does at some point or other) and that’s why we have produced feasible hacks at your disposal. Hacks which aren’t rocket science but practical enough to see you through your woes and balance out your income and savings.
1. Keep your Savings Aside
It is likely that you must have been a spendthrift and that very delusion of a velvety road has brought you to this point of getting broke. It’s important to learn from past mistakes, all sane people do this. If you look back, you will realize that you never really provisioned any percentage of your income for your savings.
All your life you have hustled with a single checking account. This led you to spend more on things than you could have easily afforded. It’s high time to be putting a STOP to this practice and opening a Savings account. Even if you have two pennies to rub against each other in the name of savings, DO IT!
2. Cut the Crap with Trim
After the technology took over all our spheres of life, we left keeping track of how much we are paying and for what. For instance, your mobile bill, you never really get down to the nitty-gritty and mindlessly pay whatever the tallied sum shows, right?
You should be watchful of what all expenses you are paying. Like iTunes subscription (which even he didn’t know) was soaking up a considerable part of his dispensable income and then there is Hulu, Tidal and all. Then there is this costly gym membership which you bought in New Year fervor; as a part of afflictions that come along with lousy resolutions. You don’t even remember when was the last time that you hit the gym, do you?
Lucky for you, Trim is there to probe into all this unwanted subscription. Trim has many good features like Comcast bill negotiations to canceling out gym memberships to fetching the discounts/rebates for you wherever possible. Trim helps you spare a few bucks wherever possible, and not to mention, Every Buck Counts.
3. Don’t let the Cell Phone Bills take a Bolt
Ever heard of Twigby? The MVNO which is proving to be the biggest disruption of the American mobile service provider market. Twigby offers a variety of prepaid plan from Verizon and Sprint at discounted rates which give it an edge over other service providers in the market.
Moreover, the services Overage protection which doesn’t let the customers slip out of their budgeted plans adds an icing on the cake. No one needs to be in confinements more than you, so go visit Twigby without letting another minute pass by.
4. Round out some Surveys in Free Time
Nothing directly related to savings but earning extra dollars in your free time will definitely help you in balancing out your income and expenditures. This often translates to having more dispensable income and ultimately more savings.
Yes, there is a plethora of sites on the internet where you can get paid for taking surveys without having to spend a single penny. The idea of taking surveys in free time doesn’t only open a door of earning passive income in your spare time, they also stop you from making a cash in your pocket (out of the desperation of trying pancakes from the new bakery down the street). Survey Junkie, SSI Opinion Outpost, Harris Poll US, EBates are definitely worth giving it a shot.
5. Look out for Freebies
You know that you are not really that broke when are spending $10 on a haircut and $15 on a pedicure. If this is the case with you then you are simply not cutting the coat according to the cloth; spending extravagantly because you love to.
Maybe you should try getting a haircut at a local beauty school for free. A coupon from Groupon can come in really handy in things like grooming and there are free workout session passes galore. If this doesn’t intrigue you, we don’t know what will.
6. Rent out that Extra Room
What’s that shaggy, abandoned room in the corner worth for? It was never supposed to be your storeroom (it’s coming off as one), was it? Well, you can register a host on Airbnb and earn passive income by renting it out. As we said, more dollars ultimately means having more to dedicate to savings.
The most convenient part about the process is that there is no stringent criterion about the kind of properties that you list on Airbnb. It could be a shared space, a family cabin, a bed for one or a full-fledged house for the family. Go, explore your options now.
7. Automate your Budgeting
Savings without a budget is like a car without a chassis. Budgeting helps you to strategize your finances and gives you the resilience to get through any unforeseen problem. Budgeting is often not as simple as it may seem so we advise you to automate budgeting via Charlie.
Charlie is a money-saving penguin who finds an abode in your SMS text messages or Facebook Messenger. Besides mapping out the holistic financial picture of your finances, it ensures that you get the best deals around (ahem ahem, overpaying $24 a month on that cell phone bill? What the h…)
8. Remain Indoors with your Bae
Winters are here and it’s probably the best time to enjoy the cozy and comfy interiors with your bae. It’s not that you have to remain tight-fisted and we are professing you the virtues of miserliness. There are many perks of remaining indoors over the weekend.
This could be the time to rekindle your love with your bae; cook together, binge watch series on Hulu, stir up and fry the leftover rice and chicken in the refrigerator and maybe light up the ambiance to soothe your sense with candles. There is no point of spending cash on extravagant beaches when you could have so much fun inside the house.
9. Hone your Skills and go Pro
Again, there is a lot you can be doing to improve your situation instead of self-pitying. The opportunities are countless for the one seeks. If you are an amateur graphic designer or if you feel that your hands on experience in any computer language (programming) have lost its economic viability, then just register on Fiverr and start bidding for the projects.
Savings is not only about money, but it’s also about the right mindset. The American culture is big on spending and the leap from being a spendthrift into a resourceful person is not a cakewalk. Things would seem difficult as you have to check your impulses and once you are on the right road, the mindset shall direct your course from there on.