This list will be beyond the popular MLM plan or coupon clipping. Here are the best ways to increase income.
1. Acquire a valuable skill. I strongly support trade schools. You may be a reporter already, so you already have this one down.
2. Decrease your three biggest spending categories: transportation, housing, food.
Learn how to cook well. This one thing will save you thousands. Learn how to store vegetables properly so they last longer.
3. Become a minimalist. Stop buying new everything and duplicates of things that are just not necessary. American women used to just have only 9 outfits, and now we have 30 – one for every day of the month. Many of us have more. It is time to stop. Shopping is an expensive habit to have. There are other ways to find fulfillment or exciting outside of alcohol and shopping – things like yoga, massages, vacations to the beach. You don’t have to cut out pleasure, just measure it and control the category. Vacations and massages and yoga classes do not take up space – they do not add tension to your life and require a storing cost (bigger house).
4. Wait to have kids.
5. Use credit cards! I see so many people advocating to refrain from using credit cards. Unless you have a discipline problem, this advice should be thrown out! I make over $50 a month on credit cards, and when I was buying all my furniture and equipment, I was easily averaging $100 a month in cashback. I have a post on the best cashback credit cards that you should check out.
6. Check to see if something is used before purchasing! Look on eBay. I’ve found 108-inch Pottery Barn curtains on eBay for instance. If you’re on a site, check for coupon codes before clicking order. If you’re on Amazon, about to make a big purchase, use you Prime credit card to get 5% back. 5% return is the best you can hope for with cashback cards!
7. Wait on buying a house, and don’t get a fixer-upper, if it can be avoided. An old house has other issues beyond the cosmetic. For instance, your heating and cooling costs will be more.
8. Always take advantage of your company match! This is free money! Even take advantage of it if you owe for college or a car. You are getting a 100% return on investment. Your loans are only at 6% negative. Most reporters will not have this offered because they are independent contractors, but some captioners have this option.
9. Garden. Save money on vegetables (basil, green onion, tomato) and get exercise and sunshine at the same time. Make sure your space gets enough sun for the desired plant before starting, however. Gardening is better at a house than apartment, so you may want to wait until you own a house.
10. Sign up for websites you always shop on. Get coupons send to your Promotions folder. I get offers from Amazon, Pottery Barn, Bed Bath Beyond – great offers, like 20% off any one item. You can’t get these offers if you’re not in their system.