Ten More Ways to Give Yourself a "Raise"

Chances are, under current economic conditions, if you end up with more money in your checking account, it won't have come from an increase in pay. Many of us (who feel lucky to have avoided the unemployment office) have had our wages frozen.

Unfortunately, our expenses are still increasing each year. There is, however, a way to compensate for a static paycheck.

Here are some steps you can take to keep a little more of your hard-earned pay and, in effect, give yourself a "raise":

1. Consider bundling some of the services you receive. Combining your internet service with your phone service or cable TV service is often cheaper than purchasing each separately.

2. Whether you normally replace your vehicle after three years or five years, consider putting off the purchase for an additional year. The money you'll save (for a year, anyway) includes the sales tax, license plates, interest paid, and higher insurance premiums.

3. Arrange a swap party with your girlfriends. Ask them to bring clothing and accessories (purses, scarves and even shoes) they no longer want to your house and trade them. What a great way to get something new for free and clear out some clutter at the same time!

4. If you know someone who has a child a year or two older (and a clothing size bigger) than your child, ask for first dibs on purchasing their outgrown clothing for big savings.

5. Think about all the money you spend on beverages. If you're truly serious about cutting back on expenses and improving your bottom line, drink water (a free glass of water, not bottled water) whenever you go out. If you can't stand the thought of giving up coffee or soda completely, get in the habit of making coffee at home or buy soda in 12 packs or cases for around $.40 per can. (If you are unable to give up that glass of wine or beer, you have a whole different issue.) Substituting just one restaurant or fast food soda each work day for a can from home could save you $400 per year!

6. Movie tickets and snacks can easily total $50 for a family. Redbox vending machines are conveniently located and rent recently released movies for $1. For a family of four, that's a savings of over $30 on tickets alone. Popping your own popcorn adds to your savings. If you currently go to the movie theater once a month, your yearly savings could top $600!

7. Check your health insurance coverage. Be sure you're paying only for coverage you need. If your family includes non-smokers, make sure you aren't paying smokers' rates. If you are a smoker, quit. (The cost of the cigarettes alone makes this a financially advantageous move!) Don't pay for maternity coverage if there is no chance that anyone in your family will be having a baby.

8. If you drive an older vehicle, check with your insurance agent to determine whether you should drop collision coverage and pay only for liability coverage.

9. Entertain at home. Expensive restaurant meals aren't necessary for a fun evening with friends. You can buy a lot of good food at the grocery store for the price of a fancy meal. To increase your savings on your "evening in", make your event a potluck so you aren't responsible for the entire meal.

10. Stretch it out and save. Can you go seven or even eight weeks between haircuts? Learning how to trim your bangs at home may enable you to go even longer between cuts. How about getting a manicure every ten days rather than once a week? Pedicures can last a month if you purchase a bottle of matching polish to do touch-ups.

I challenge the reader to come up with even more says to save. Strategies for keeping more of your hard-earned money are limited only by your imagination and ingenuity.