Ways to Stretch Your Paycheck

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In this undying economic crisis, many of us are in a bind for cash. Following these simple tips is a sure way for you to stretch your paycheck, no matter what amount of money you make!

Start small

  • Trim your grocery bill. Many families go overboard at the supermarket, not even realizing how much they actually spend.
  1. Get on a budget! Use a free online budgeting site, such as Mint or Buxfer.
  2. Shop at Trader Joe’s or a warehouse store.
  3. Use coupons! Find them online for free at CouponMom or, for only $5.95 a month, get customized coupons from Shopping Nanny.
  • Cut your cell-phone bill. Review your bill and make sure you actually use all the features you’re paying for. You might even want to switch to prepaid!
  • Boost your deductibles. Raise your deductibles! It’s the easiest way to save on auto and home insurance. If you have policies with more than one insurer, you should bundle up! That way, you’re more likely to get a discount.

A Little Effort

  • Switch your TV package. Now’s the time to shop around for a new cable or satellite package. Competition among providers is running high, and that only means sweet deals for you!
  • Rein in your eating out. Don’t be such a diva! Ditch the morning caramel macchiato for some instant coffee. Your java and mid-day snack could be costing you nearly $10 daily! Brown bag it! You’ll be saving money and cutting back on some calories.
  • Get rid of your stuff. Remember all that old furniture crammed into your garage? Do some late Spring cleaning and sell your unwanted clutter on CraigsList or eBay!

Bigger Payoff

  • Refinance your mortgage. Yes, it requires lots of time and energy, but refinancing has the biggest potential payoff. Interest rates are at their lowest in decades- take advantage! You could save several hundreds a month!
  • Unload your second (or third) car. Just like the old furniture in the garage, there is no need to keep that car you don’t use sitting in your driveway. Sell it!
  1. Find out how much selling your vehicle could put back into your wallet by checking out Edmunds.
  2. Place an ad on eBay and get it off your hands!
  3. If that sounds like too much work, just take your car to any CarMax for an appraisal. You  won’t get your best offer,  but you can sell it on the spot.

What do you do to cut back? Let us know in comments!

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