Wednesday, January 25, 2017

Build Your Savings Without Struggling

It's vital when you have a family to have a pot of savings that you can dip into in a time of crisis. You never know when something will come along that needs to be paid for. It could be a school trip, a new pair of shoes, or something more major like fixing the washing machine or a holiday? Having some savings to rely on in this situation is certainly going to make your life a lot less stressful. But how it is possible to get to the point where you have a healthy savings fund if you are already working on a tight budget? Read on to find out.

Earn a little extra on the side

A great way of having some extra money to squirrel away for a rainy day is to take on some low key extra work on the side. It's not about getting a taxing second job, as this can be pretty stressful. Instead look for things that you enjoy, or that aren't too much hassle and try and to monetize those.


For example, you may love to draw or craft in your spare time. Then you could try making greeting cards and small gifts that you can sell at craft markets or on a handmade site like Etsy. Or, maybe you have a talent like playing a musical instrument or sport? Then teaching or coaching kids that want to learn will allow you to do what you love, and get paid for it. You can even join online money making sites like Swagbucks. There you can fill in a few surveys while watching your favorite TV show, or waiting in the supermarket queue and get paid for doing it!

Full Price Is For Fools

Another way you can build your savings is to avoid paying full price for anything. While this may sound a little penny pinching, what is the point of paying more than you have to for the very same items?

Most people aren't aware that it is possible to negotiate a price on many items, especially high-value ones like cars, RVs, and rendering trailers.  At the very least you can often get them to throw in added extra for free like insurance.

Another way to you can avoid paying full price is to check voucher sites like By doing this you can buy an item online at greatly discounted prices, and in some cases, get free shipping too. This means you will then have more cash to sink into your saving fund.

Bye Bye Clutter, Hello Profit

We always hear about how we should declutter our homes, but it can be a struggle to find the time and motivation to do so. But something that will get you motivated is knowing that you could make a little money from your clear-out.

The secondhand market is thriving thanks to auction sites like eBay, and it really does seem like one man's trash is another man's treasure. So try selling some of your higher value items before just sending them to the dump. You will be recycling, and making a profit, which you can use to add to your savings as well.

Have a lot of lower value items, and you can't be doing with the hassle of putting these on an auction site? Then it can be a better idea to have a garage sale. Rather than trying to get the best price for every item, make everything at $1-$2. Then you will be able to move things quickly, and you will have less to get rid of when it's all over.  

Packed Lunches

Also taking your own lunch for work, and for this kids when they go to school, is another fantastic way of saving some serious money. Most of us know that it is way cheaper to buy the ingredients and put together a lunch ourselves. But time pressure and convenience often get in the way, causing us to rely on prepared items, bought on the day instead.

If you are really serious about building that savings fund, work out how much you are spending big on lunches as a family. Then see how much it will cost to make a packed lunch for everyone. By comparing these, you will be able to see how much extra you can put into the saving every month, for just a little more effort.

To make it easier, stick to pre-portioned items and sandwiches which can be made the night before and refrigerated. So it doesn't interfere with your morning routine too much. Remember you need to make it as simple as possible or you won't keep up with it, and that means you will end up loosing the savings you could have made.

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