I don’t know about you but I don’t have hours to sit and cut coupons. And I definitely can’t afford to have a financial advisor to watch my spending every single day.
- Get rid of unnecessary subscriptions
- Shop off brand for groceries
- Only buy your clothes on sale or go thrifting
- Limit socializing money
- Eat out less
- Turn off lights and heat/ac as much as possible
- House Sit/Mow Lawns or Shovel Snow
- Take Online Surveys
- Sell Your Clothes/Gently Used Items Online
- Sell Homemade Items On Etsy
- Walk Dogs
- Start A Blog (My favorite! You can get a crash course on how to start here)
We all wish we could save more money and we wish we could make more money too. However, many people are unsure of how to do this and merely accept their place in the world.
As you grow older, you want to be financially stable and ensure that you can pay off debt, save up, and use your money for doing what you want to do.
There’s no point lying about it. Saving money in your twenties can be difficult. Especially if your friends have cash to play with, and invite you along like you do too. After all, this is the first time you’ve all had finances of your own.
For a lot of people, the idea of finding yourself stuck without any money at all is probably something you’ve never even considered.
All of those unfortunate circumstances that could happen aren’t exactly something that you want to be thinking about all the time. But sh*t happens and when it hits the fan, you need to be prepared for what steps to take next.
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Be In The Know
Yeah there are tons of things that could pop up out of no where that could cost you money. But being aware of some of these things could ensure you have enough money when the time comes, or even prevent them from happening completely.
For example if you live in an apartment and there’s a fire and you lose all your belongings, does your renters insurance cover it all? Or just a small amount?
Or if you’re in a house and have a bad water connection, having a leak could cost you a small fortune, and you wouldn’t know until the bill turned up.
Even something as simple as an accident at work could leave you struggling to get by, especially if you have to take a long time off.
There are loads of things that could take you from financially stable one minute, to barely making it the next minute. Be aware of the possibilities that could happen and have a plan in place to help you survive the rough patch.
Rainy Day Savings
I’m not talking about having $100 tucked away just in case an emergency arises. I’m talking about having 3-4 months worth of living expenses ready to go so if you need some time to get back on your feet, you’re covered.
Getting a savings this large started without a lot of extra money coming in can seem nearly impossible. BUT if you cut small things here and there it’s totally doable!
These are just a few simple changes that can have a HUGE impact on your finances. If you cut a couple dollars here and there every month, the savings will start adding up in no time!
Get Back On Your Feet
And after all the money madness is said and done, it’s time to think about ways that you can get back on your feet. In a lot cases, simply working hard to avoid spending excess money and saving every penny you can will be enough to get you through a tight spot.
However sometimes the only solution may be increasing your income. And I know 99% of you probably don’t have the time to take on another full-time job. But lucky for you that’s where side hustles come in!
Have you ever been talking to one of your coworkers and they fill you in on how they’ve been able to afford these little extras here and there? It’s side hustles baby! Making some extra cash on the side without sacrificing your 9-5.
These are just a few ideas that you can do while still keeping your full-time job to bring in some extra cash.
Prepare Your Finances For The Worst
When it comes to your money anything can happen. You can be living comfortably one minute and have an accident at work the next minute and be filling out a social security disability application.
Okay that one is not very likely to happen but you get what I’m saying.
You can’t be prepared for everything, but you can do your best to make sure your finances can take a hit if a circumstance arises.
So be aware of what could happen, ALWAYS keep a savings, and have a plan to get back on your feet.