Here are 7 ways you can acquire an extra $50-100 without any sacrifice. You could use these to, for example, travel an extra day a year. Try working through all of these at the rate of implementing one suggestion a week for 7 weeks.
1. Eliminate all ATM fees easily.
A Charles Schwab checking account will reimburse you for any ATM charges you get for using any ATM anywhere in the world.
If you get caught out a couple of times a month that’s at least $5 in “other bank” ATM charges you’ll be paying, or $60 a year. If your spouse does the same thing, that’s $120 a year you’ll save. There’s also no monthly fee on the Charles Schwab account so if you’re currently paying a monthly fee, you’ll save on that too. Frequent travelers swear by this account.
2. Cancel one recurring subscription.
Most people can identify at least one $5-10 a month subscription, or an under $100 a year annual subscription that they’re paying for but not using. Sometimes it’s only the hassle of canceling that gets in the way of canceling. When every day is busy, it can see like $5 isn’t worth taking that 15 mins to do the cancellation. It’s easy to think “I’ll do it next month.”
3. Sell one unused item.
Virtually everyone has at least one unused item that they could sell for $50-100 second hand. Put that sucker on Craigslist or just do a Facebook blast to your friends to say you have it for sale.
4. Take one less trip a week to the store.
If you can take one less trip a week that costs $1 in gas, you’ll save $50 a year. Try keeping a list in your glove box for a month. Each time you have to take what’s probably an unnecessary extra trip, write it down. Over a month you’ll notice any patterns and any extra trips that could easily be eliminated. For example, by using you bank’s app to deposit checks, or putting an item on an Amazon “subscribe and save” vs running out and needing to go to the store.
5. Renegotiate your insurance.
Spend a few minutes on the phone to try to knock $100 a year off your insurance bill. As a starting point, let your existing company know what you’re trying to do and see if they’ll work with you to find those discounts. Possibilities include things like taking an online defensive driving course, which will cost you around $20 and a couple of hours but will save you around $10 a month typically.
An alternative is to ask your most frugal friend who they’re insured with.
6. Let Other People Contribute
For one event a year where you would invite people for dinner, make it a potluck.
7. Do any one thing that will save you $1 a week.
This suggestion is a bit like the suggestion about taking one less car trip per week. Do anything that will save you $1 a week or $50 a year.
It could be ordering toilet paper online at a discount or buying something you use often in bulk.
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