Seven Ways to Save Extra Cash

If you are looking for ways to save extra money, here are a few good ideas. They have worked pretty well for me and, if you practice them regularly, they should help you save a relatively sizable amount of cash.

Save change. Get an empty bottle or jar and fill it up with pennies, nickels, dimes, and quarters. Better yet, save all of your change. I make it a point when I get change not to spend any of it. Each night, I empty my pockets of all change and it goes straight into the jar. Because my cash runs out quicker, I have noticed I have tended to spend less overall.

Pick a denomination and save it. Every single time you receive a dollar bill of a specific denomination, say fives, tuck them away somewhere and do not spend them. You will be surprised how much this will add up: you may end the month with an extra $25, $35, or $50 dollars or more.

Observe Lent frequently. Every week, give something up just for that week. It could be that end of day beer, or maybe that top of the morning cup of coffee. Each week, pick something to give up and bank the savings.

Subscribe. Commuters especially spend a not-insignificant amount of money on reading material, newspapers, magazines, and even paperback novels. Take a weekend to make a list of everything you might read in a given week, pare it down to the essentials, and buy subscriptions. You will save even more if you start to read the news online, where it is most current, and dust off the library card. But if you simply must read Elle or GQ, avoid the newsstands.

Exile your savings account. If you frequently raid your savings account, move it to another bank across town. If you have to take time out of your day to get your money, as opposed to just heading to an ATM, then you will likely think twice about that impulse buy. Further, distance yourself from your savings account by disabling Internet access and refusing an ATM card. Go back to the old days of paper statements and teller transactions, and you will not get yourself in trouble buying things online.

Instant message more. You can reduce your phone bill radically if you and those friends and family members of yours with whom you speak most resolve to instant message each other rather than burn cell phone minutes or send text messages. It may take a bit of an adjustment, but by reducing your airtime, you may be able to comfortably reduce your monthly plan and save money.