Financial Zip

I have been thinking of ways lately that some of my readers can help themselves get a little extra cash flow in their lives.

Clueless

The first problem really with saving is you don’t have a clue what your money philosophy is or really what you earn or spend. So you need to get the picture in view.

How much discretionary income do I have? How much do I spend on debt every month? How much am I over spending in other area’s? If you don’t have a plan related to these questions it is time to get on the horse and get one.

Some questions that you might ask yourself as well

• Who am I? What’s my current financial picture?
• How do I want to live? How do I want to use my money?
• How can I make the best use of my money?


Managing money needs to be taken very seriously you need to make it a chore that you do every day, week and month to keep on top of things. A family is for all intents and purposes a business so if it helps you think of it that way and helps to get you moving on your family finances do it.

Here are some drastic ways to earn and save money in the process whether it is saving money for long term use or for a specific goal.

Buy Used Stuff. Do your shopping at consignments stores or second hand stores you can generally save about 25% off things than spending it or buying it from name brand stores. My mom loves Nordstrom’s and she bought a dress there for about $150. I saw the same dress at Burlington Coat Factory for $50.


Hold a Garage Sale. Everybody has junk and if you say you don’t you are in denial and might be a hoarder. Anyway, garage sales are great ways to earn a little cash and get rid of stuff you don’t want; if you have a lot of stuff you can earn a lot. A friend of mine held one and she was able to pocket about $1500 bucks.


Quit the driving addiction. This is a big one now a days and especially since gas has gotten to be $4 a gallon. If you live close to work it might be good idea to get a bike or walk. It promotes good exercise and saves you some money. If you commute to work and public transportation is available take that option or car pool with some people.


Quit Smoking. Pack-a-day habit? In Washington state, that’s easily $5 a day — or about $1,800 a year — that can go right into your savings, not to mention what it saves you on insurance and health care.


Cut your housing expenses. While a move across the tracks may save some money, moves are expensive in themselves. Consider renting out a room. The average housing costs per person in 2000 were just over $13,200. In metropolitan areas such as Seattle, rooms easily go for $400 a month. Figure about $20 of that goes to increases in utility costs, and you’ve still got an annual savings of more than $4,000 before any income taxes.


Cut up your credit cards. Credit cards could cost you as much as $1,100 a year in interest alone. So that should be enough incentive to cut them up and pay them down. Not to mention all the fee’s that you might end up paying.