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You might be surprised where you can find money

Finding extra money is good any time whether it’s one dollar or one thousand dollars. What is surprising is that many of don’t think of all the places we can find a little extra cash. Finding this cash can be little effort but for bigger windfalls, a little more effort might be required.
Where is the first place to start looking for money?
Around the house where you stash all the extra change.  If you always keep your change and use cash quite often, you will be surprised how much you have accumulated. It seems the more we use cards to pay, the less often we use the change we receive when paying with cash.  This tends to be especially true for younger consumers.
Are there other places in the home to look?
Yes, all the half used or unused gift cards that you have in the gift card drawer. It may be a pain to use these partially used cards but they can really add up in value if you have several of them.  Most of these cards don’t charge fees for several years so there probably is still a remaining balance. If you won’t use the card, think about trading it or selling it at a discount to get some of the value back.
What is the most forgotten monetary instrument?
Savings bonds – they were especially popular with the greatest generation and baby boomers. If you are in your 30s or older, you might have one from grandparents for all the major events in your life. Cashing in those bonds could prove to be lucrative.  Depending on the type of bond, most reach their face value in seven to ten years.
These all seem relative easily, what are the more difficult places to find extra cash?
In our daily expenses such as the grocery store, entertainment and our daily habits. It’s harder because you have to make a behavior change to be effective and none of us like to change. The benefits in the amount of money you can “find” are much greater however and almost always worth the effort.
What’s a painless way to save without that much of a change in habit?
The easiest is switching from large to small when buying the gourmet cup of coffee or whatever else it is that can be downsized . You can still treat yourself and save close to $2 per day which could add up to $40 per month. Look at all of these “extravagant” indulgences and see where you can just go smaller instead of completing eliminating.
Do you have to become obsessed with coupon cutting to save significant at the grocery store?
No you don’t.  Using coupons you receive in the mail is a great way to save each week but if you want the easiest approach, use rewards programs from the stores where you shop the most.  Also consider downloading their app to receive coupons to your rewards card, both options are really pretty easy.
If we really want to go big, where can we save the most money?
This might be the most painful step but if you can save a lot of money each month by lowering or eliminating non-essential utility expenses which might include smart phone plans, cable or satellite packages and anything else related to these types of expenses. 

Posted: 6/16/2016 with 0 comments

Categories: Money, Money Matters, Saving

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