 Parenting
Article
Nine
Ways to Stretch Your Income
by
Susie Cortright
http://www.momscape.com
These
days, many of us are finding ourselves having to stretch the ends
until they meet. And anything's possible. Vicki Robin, author of
Your Money or Your Life lives on the $6,000 that her investments
generate each year.
Here
are some tips for stretching every dollar.
1.
Save a penny, keep a penny.
Dump
your pocket change into a jar each night. Invest it in a
high-interest bearing account at the end of each month.
Woman's Day magazine recently suggested this money-saver, adding
that if a couple puts just one dollar each into the jar every day,
the sum will top $700 at the end of the year. Invested at 10 percent
interest over 10 years, that pocket change will grow into $12,000. I
have a friend who keeps her change in an empty Swiss Miss hot
chocolate container. She calls it her "Swiss Bank Account," and it
has already funded two family trips to Mexico.
2.
Use your computer
You
can save big money by shopping online, if you know where to look.
Couponmountain.com ( http://www.couponmountain.com)
is a nicely organized database of online coupon codes. You can also
purchase an Entertainment Book for local purchases. I use mine all
the time for groceries, oil changes, and dining out. (The coupon
book features lots of 2-for-1 deals at local eateries).
http://www.momscape.com/a/entertainment.htm
And
here's a site that allows you to buy discounted gift certificates to
local restaurants. For example, you can purchase a $50 gift
certificate, in some cases, for $20. Print the certificate at home
and use it for your own family's dining:
http://www.momscape.com/a/restaurant.htm
3.
Write letters.
Whether you love the product or hate it, write the manufacturer a
letter. Customer service is key for companies these days and a
company that receives a complaint is bound to make amends. On the
same token, many companies will acknowledge--and encourage--your
satisfaction with coupons and discounts.
4.
Shop smart.
Look
at the grocery store ads before heading off to the store. Maybe you
can reserve a few items for purchase at a nearby store that is
offering unusual bargains.
5.
Ban impulse buying.
Make
it a family policy: if you see something you like, write it on a
wish list and wait at least three days before buying.
6.
Watch out for "nickel and dime" expenses.
Those
little snacks and coffee stops can easily add up to more than $500
per year.
7.
Shop around.
Research purchases on the internet. Before making a big online
purchase, visit
http://www.dealtime.com and
http://www.mysimon.com.
8.
Refinance your home.
Signing a few papers can save you big money on your mortgage
payment. It's really not as big a hassle as you might think. Ask
your friends and family for the name of a good mortgage broker.
9.
Examine credit card use.
If
you have credit card debt, make a promise to yourself to pay it off.
If you're paying credit card debt, you're paying not just 17 percent
more for your purchases than you need to, you're also missing out on
the money that the sum could earn for you if you had invested it.
Comparison shop cards online with
http://creditcardmenu.com.
Or
simply call your credit card company and let them know you have been
offered a card with a lower rate. Then, ask if there is a way to
decrease your rate. One two-minute phone call recently reduced our
rate by 4 percentage points. That was one call I wish I'd made a
long time ago. The most important thing is to recognize that you
control your finances. Empower yourself with smart spending.
----------------------
About
the Author:
As a
work-at-home/stay-at-home mom, Susie Cortright is able to further
stretch her family income by supplementing it with income from her
own home-based Business, and you can too. Learn more about the
company she chose here:
http://www.momscape.com/business.htm
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