12 Easy Ways For Couples To Save An Extra $5,000 This Year
Month 3: Consolidate Your Debt to Lower Your Bills
OK, so this one won’t necessarily help you make money to save. But it could substantially lower the overall debt you’ll accumulate from high interest rates and help you save more money over time.
Most of us are being crushed by credit card interest rates that are north of 20%. If you’re in the same boat, it might be worth seeing if you can consolidate and refinance your debt.
A good resource is Even, which allows you to compare rates from several lenders and then borrow up to $35,000.
If you do decide to consolidate your credit card debt, be sure you don’t close your old accounts. A huge part of your credit score revolves around the length of your credit history and closing active accounts can definitely hurt it.
Savings vary, but reader Julie Fulesday consolidated some of her student loans before refinancing them and was able to save between $10,000 to $12,000. While this is an extreme example, consolidating debt could help you get out from under it faster.
Can you knock your monthly payment down $100?
Balance: $205
Month 4: Let Someone Borrow Your Place for the Night
Have a spare room? Might as well use Airbnb to make some money by renting it out.
If you’re a good host with a desirable space, you could add hundreds — even thousands — of dollars to your savings account with Airbnb.
Taking a few simple steps can make the difference between a great experience and a less-than-satisfactory one.
Here are a few tips:
Make your space available during high-demand times in your area. Think: concerts, conventions and sporting events in your area.
Be a good host, and make sure your place is stocked with the toiletries you’d expect at a hotel — toilet paper, soap and towels.
Be personable. A lot of travelers turn to Airbnb for the personal touch they won’t find at commercial properties.
Here’s the link to sign up as an Airbnb host.
(Hosting laws vary from city to city. Please understand the rules and regulations applicable to your city and listing.)
If you can rent your place for $100/night just five times this year, you’ll bank a cool $500 this year.
Balance: $705
Month 5: Sell All Your Stuff With These Apps
Are your closets and shelves packed to the brim with stuff you never use — or even look at?
You can sell virtually anything on letgo. This intuitive app lets you snap a photo and upload your item in less than 30 seconds. Not only does it remove a lot of the hassle of selling things online, it’s 100% free to use.
But there are also apps for selling more specific stuff to people who might actually be looking for it.
Have a bunch of movies or CDs collecting dust on a shelf? Decluttr will pay you for them!
Decluttr buys your old CDs, DVDs, Blu-rays and video games, plus hardware like cell phones, tablets, game consoles and iPods. Plus, enter PENNY10 at checkout to get an extra 10% for your trade-ins!
For old books from college, you can use Bookscouter. Just type your book’s ISBN into the search bar and the site will connect you with more than 25 of the best-paying and most reputable buyback companies online.
Set a goal to make an extra $100 decluttering your place this month, and add it to your bank account — every little bit helps!
Balance: $805
Month 6: Lyft Your Way to an Extra $2,400
Need a fun, flexible way to earn money this month? Try driving with Lyft!
Demand for ridesharing has been growing like crazy, and it shows no signs of slowing down. To be eligible, you’ll need to be at least 21 years old with a year of driving experience, pass a background check and own a car made in 2007 or later.
We talked to Paul Pruce, who’s been driving full-time with Lyft for over a year. He earns $750 a week as a driver.
Best of all, he does it on his own time. You can work days, nights or weekends — it’s up to you!
Work 40 hours a week for one month, and you could bank up to $2,400.
Balance: $3,205
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