Single income families, single mom or dad, living from paycheck to paycheck -- these situations can sometimes make it a struggle to save money. Some may even ask, "How can we save money when there's hardly extra money". The truth is, if there's a will there is away. It may be a small and slow process at first but that first step is progress.
" A Journey for a thousand miles, BEGINS with a SINGLE STEP. " -- Lao Tzu
Here are some practical and superb ways to build up your savings account.
How does the $5 Savings Plan work? When a $5 bill comes into your possession, what you do is to put the $5 bill aside and then once or twice a year youdeposit your money into your savings account.Kelsey from Keeping Up with Kelsey saved all of her $5 bills in a mason jar. She saved for five months and was able to put away $200. How smart and easy peasy is that? If you think that $200 is not that much, remember ..that $200 socked away is $200 that you didn't have before. Saved money that you can use for an emergency that you had never expected months before. Of course, the saved amount depends on how often a $5 bills come into possession. If you use mostly cash, more than likely, you will be able to save more! Head on over to Keeping up with Kelsey and read her tips on how she does the $5 savings plan and what she plans to do with it.
Photo credit : Keeping Up with Kelsey
Lena of What Mommy Does is a former CPA turned SAHM, created this way of saving money for Christmas spending. She and I are the same, months before Christmas we already have Christmas spending in mind. I don't know about you but the holidays have ways of breaking into your bank if you are not careful. I too, like to plan ahead. She created the 26-week plan to start in June and ending in December-- have $1001! Wow huh? Head over to her site, this smart momma offers a free printable of 26 Week / $1000 Savings plan.
Photo Credit : What Mommy Does
Do you want to start small? Amee from Real Advice Galhas got you covered. As she explains, 52 weeks savings plan is more realistic because you will start small, $1.You save the amount that corresponds to the number of the week. Let's say week one, you need to save $1, week 2 will be $2, week 3 will be $3 and so on.
Amee is right on the money with this, it is not intimidating that even kids and teenagers can do this. By the end of the savings plan, you'll have $1378. Head over to her site, Madame Deals ..she has a cute printable to get you started.
Photo credit : Real Advice Gal
Automatic Bank Transfer
Call your bank and set up an automatic transfer from your checking account to your savings account. It can be as little as $25 a month. If you tend to forget to put away certain money for your savings envelope, then this is the best option for you. With next to no effort, let it build up and watch your savings grow.
Make More Money
I know that to some, socking away a little money can still be difficult. That phrase, "there is just not enough money " is true for some families. Try making more money. You can make money by going through all of your excess stuff and selling it on eBay. You can make a little money by consigning your gently used baby and kid items ( just make sure that what you are selling is not on recall). How about babysitting or even pet sitting?
I recently wrote about Work From Home Jobs, it is for bloggers and non-bloggers. Are you a blogger or want to start a blog and thinking about ways to monetize your site, check out 20 Ways Bloggers can Earn Money.
How about earning cash back from shopping? From the stores or online stores where you regularly shop! RAKUTEN is awesome on this. As you can see below, I already earned $19.59 from all of my online shopping last Christmas. What stores if you may ask? I shop at Vitacost.com (for vitamins and health foods), Children's Place, Walmart, and Target. I have also earned a cashback from booking a hotel, purchasing a ring doorbell, and buying office supplies. All I did was I installed the add-on and when I visit an online store, it automatically notifies me if a rebate is available through that site and how much the percentage will be. Let's talk about coupon codes! What's amazing with Rakuten is that it also notifies you of any available coupons and you can apply it when you check out! No more coupon hunting!
Read more about RAKUTEN HERE.
How about selling on POSHMARK? If you haven't heard what POSHMARK is about, it is a platform where you can buy and sell items. Their app is so easy to use! I downloaded the app on my Android phone, created a sign=in and profile, snap a photo, describe the item, list a price, and that's it. One of my favorite features is the PoshPost! When you make a sale, they provide a pre-labeled address and a pre-paid shipping label. All you have to do is to print it and just drop it off at a USPS mailbox or post office or arranged a pick-up! How easy is that! You get rid of unwanted stuff in your home so other people can give it a second home and you earn some money. It is a WIN-WIN in my book.
Ready to give it a try? When you download the app, use my invite code ABOUNTIFULLOVE. You get $10 when you sign up and I can (thank you in advance) earn $10 when you make your first purchase.
Selling Stock Photography
Give.
No, I am not crazy. I am really encouraging you to give. Give and I guarantee you that it will do your heart and mind wonders. Don't do this in the wrong belief that when you give, God will bless you more. Do not expect blessings in return by doing "false works". Doing good works to gain God's love is - dead work. He already loves you and gave you an abundance of grace.
" And if by grace, then it is no longer by works, if it were, grace would no longer be grace "
--Rom 11:6
" For it is by grace you have been saved, through faith—and this is not from yourselves, it is the gift of God— not by works, so that no one can boast. "
-- Ephesian 2:8-9
"No one has ever become poor by giving" -- Anne Frank
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