It’s bill time again. This is the week you dread most. Never have you felt like you’ve worked so hard for so little than when your freshly deposited paychecks dwindle. It’s like a lake bursting from a dam, when the rush is over, you’re sometimes left with nothing more than a small puddle or two. Although every pay check isn’t always this bad, once your other normal expenses are taken care of, you don’t have much money to put away for a rainy day. And after what we’ve seen of the recent Hurricane Isaac, rainy days can turn your life upside down with only a few days’ notice. A few days’ notice isn’t nearly enough time to save thousands of dollars to take care of your family. Here are a few tips to help you save when you’re scrapping the bottom of the barrel.
Big name national chains are often loaded with hidden fees and charges. Sometimes you’ll be charged interest for things like not having enough money in your account, depositing a pay check, or not transferring money from one account to another. Switch to a smaller or more reputable bank. Credit Unions are usually great places to store your money, and interest rates are eons ahead of any large bank.
Stop watching TV
For one, having a TV subscription is a want and not a need. You can save a lot of money every year just by cancelling. If you doubt that you can give up your favorite TV shows then don’t sweat it. The internet hosts all of your favorite TV shows just minutes after the episodes end. Why pay for both when the internet can give you what the TV can and more?
Make the gifts you give
Contrary to popular belief, most people do not devalue a gift just because it wasn’t expensive. In fact, they tend to value it more. When you make your own gift, it means a ton more to the person you give it to. It symbolizes that you cared enough for to spend a lot of time in preparation. You remembered the occasion and got ready for it, not just picked something up on the way home. Whether it be something you build/create or something immaterial—like a coupon for a day with dad—whatever you get them will be perfect.
There are countless ways to save money for that rainy day. All it requires is a little thought, creativity, and planning. You can get started today.