Sep 24, 2020
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5 Ways You Haven’t Considered To Save Or Make Money

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With the government shutdown now entering its second month and without end over 800 000 federal workers and contractors continue to head unpaid. In fact The New York Times reported that federal workers are now doing odd jobs to attempt to make ends meet simply by the shutdown. But whether you aren t a federal worker there is still an issue to be made for developing a supplemental source of income for you to accelerate the payoff of credit card debt and student loans or boost your retirement savings


You will be thinking that earning a few dollars here and there won t make a difference but the math is irrefutable. Earning an extra $100 every week will add up to over $5 000 annually a figure that’s nothing to be scoffed at. That sum is enough to make a healthy dent on your debt or give a generous boost for your IRA or other retirement savings


So if you are seeking how to save or make money listed here are 5 ideas to get you started. 1. Don t Be Penny Wise Pound Foolish. Because the saying goes don t work flat out to scrape together a few bucks or save money at the food market if you then go and overspend on your housing or transportation costs which are often the biggest household expenses


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In terms of housing aim to maintain your rent or mortgage expenses at 30% of your take-home pay or lower. If you aren t sure if you re at that threshold you can use this simple monthly rent calculator to check. Being able to diminish your overhead expenses could make a drastic difference because the savings are recurring on a monthly basis


In effect lowering your rent by $200 will add up to thousands over several years. If you love where you reside and aren t willing to relocate you can consider finding a roommate to aid defray some of your living expenses. 2. Donate Your Blood Plasma For Money If you re seeking a way to make some extra money while also helping folks look no further


Consistent with plasma donation enthusiast Melissa Blevins you can earn an extra $300 to $400 per month by donating your plasma for money. Besides the money you ll earn you can rest easy knowing that your plasma can help save the lives of folks tormented by trauma severe burns and other medical emergencies


3. Become A Referee Of Your Favorite Sport If you love sports then officiating games can be a wonderful way to spend some of your free time while also making extra cash. If you do it year-round you can earn up to $5 000 per year. This is because it s possible to earn $50 per game and you can easily officiate 2 games per week


The added bonus here is that you ll even be physically active which is superb for your health and may possibly lead to savings in healthcare costs down the road. Clearly getting paid to exercise and learn how to resolve conflict is possible. You ll must be familiar with the game and its rules in order to qualify but for the sports enthusiast it s hard to think of a more fitting way to earn extra money


5 Ways To Save or Make Money You Haven t Considered GETTY 4. Earn Money When You Shop Earning cash back with your credit card is a perk that has been around for several years. But fewer people realize that sites like Ebates let you earn extra money back (on top of whatever you get from your credit card) at leading online retailers without charge to you


In fact you ll ought to do very little to earn the money you only just begin your shopping journey at their site and voila. The catch is that it s usually a small amount (1-2% of your purchase although it is higher) and it ll take a few months for your check to arrive in the mail


But not utilizing a service like this for your regular online shopping is such as walking past dollar bills laying at the sidewalk. You won t be able to live off of the cash-back rewards but it d be foolish not to earn that money and save it to help you reach your financial goals faster


5. Stop Paying Top Dollar For Contact Lenses If you purchase your contact lenses without checking different prices around the net you’re probably paying way too much. With contact lens price comparison websites like ContactsCompare and ContactsPrice finding the cheapest contacts is simple. The explanation this is essential is because numerous people don t realize that they have got options


Since you need a prescription for contact lenses numerous people assume that the costs are a similar despite the store or that they are required to purchase from their prescribed contact lenses from their optometrist. However prices vary wildly from store to store and it s important to shop around


You wouldn t shop for flights without checking Kayak or another price comparison site first. Contact lenses are not any different. The savings could be substantial since these purchases are usually made on a recurring basis. Bonus Tip 1: Update Your W4 Form To Have The Right Amount Of Tax Withheld If you are used to receiving a large tax refund it simply means that you paid too much tax during the year


Said differently you essentially extended Uncle Sam an interest free loan something you likely wouldn t do for most people. But the excellent news is that there s something you can do to fix that. You can submit an updated 2019 W4 Form for your employer so that the proper amount of tax is withheld from your paycheck


If you experienced any life events like a change in marital status or had children during the year chances are that you ll want to change the amount of federal tax withheld from your paycheck. The last thing you like to do is leave money at the table that may be accruing interest or gaining value


Bonus Tip 2: Learn To Negotiate A Car Lease Pretty much leasing a car is a luxury. If you are concentrated on saving money you re at an advantage by buying a used car. But if you re set on leasing you need to learn how to negotiate a car lease


Knowing how lease math works and understanding what the finest offers available are will save you big but you need to put in the work to do your homework

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