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How do you save money when you do not make enough? How do you build up a nest egg when you have very little money to spare? How do you pay off debt when your budget is in the red?
The answer is hustle.
I know, I know, no one wants to work that darn hard to save a penny but truthfully it is the only way to really save. Saving money, paying off debt, and great accomplishments only happen when you hustle. It will not matter if you make a zillion dollars or if you make pennies an hour, you will not achieve your money goals without hustle.
Step One: Budgeting
The first step to hustle is budgeting, as without budgeting you will not know how much money you have or do not have to hustle. Setting up a budget that works can be as simple as tallying up your expenses for the month along with your monthly income. Then you can subtract your income from your expenses.
If you are in “the red”, meaning you have more expenses than you do income every month, it may be time to hustle to step number two.
Step Two: Cut
The second step to hustle is to cut the unnecessary spending from your budget. Things to consider cutting from your budget are; cable/satellite, data on your phone, monthly subscription services, and even banking fees. (You really should not have to pay bank fees and if you are, find a bank that will not charge you or call your current bank and explain to them that you do not want to pay the fee anymore and are looking for a new bank. This will usually work in getting your fee removed, but if it does not, simply change banks. You cannot afford to keep paying a bank to make money on your money.).
You can reduce your monthly bills by calling and comparing quotes for insurance and calling your utility providers to ask about discounts or fixed rates. By doing this you can potentially save yourself up to $500 a year!
Step Three: Side Hustle
The last step to hustling is to work the side hustle. The side hustle is where you work to earn money outside of your regular job. You can side hustle by working a part time job on the weekends or after your regular workday ends. You can earn extra money through Swagbucks and InboxDollars and you can earn a side hustle from overtime worked at your regular job (if you are paid for overtime).
Still think the hustle is impossible or that it will not work? I am living proof that does work. At 21 years old, I was almost bankrupt and was so deep in the red I honestly did not know how I was going to keep myself from starving. The hustle works so long as you work. It will not be easy but if you need to bring your budget back in the green, hustle is the answer.
How do you hustle to save your family money?
Reader Interactions
Comments
Aja saysSide hustle is key! It’s what got us out of debt!
- Verity says
Freecycle instead of buying. Negotiate with utilities when to pay and how much. Haggle debts down. Get rid of the TV and only watch catch up saving £145 a year on a TV tax/license. Grow my own veg collecting and using seeds from groceries as well as re-growing from veg for example you can regrow celery from the cut off base. Salvage. Buy second hand from charity shops, carboots and jumble sales. Use a swap and borrow group. Borrow generally (not money just things I need temporarily). Forage. Cash neutral; get rid of things to raise funds for essentials I do need. And so on.
- Lissa says
I joined local coupon sites on Facebook. They show to cut coupons and match the coupon to the sale. I save about 30%, which doesn’t sound like a lot, but when you have a one hundred dollar bill and get $30 back instead of nothing, it all adds up.
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