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Brian Tracy shares five ways to cut spending and boost income: cancel subscriptions you don't use, rent instead of buy, cook at home, pick up freelance work, and sell stuff you don't need anymore.
Brian Tracy shares five ways to cut spending and boost income: cancel subscriptions you don't use, rent instead of buy, cook at home, pick up freelance work, and sell stuff you don't need anymore.
The five Best Ways to Save Money Money's hard to earn and easy to lose. Guard yours with care. Brian Tracy when your finances are limited, stretching your budget further and saving money can sometimes feel like a real challenge. In instances where you are already abiding by a strict budget, saving even more money will require some out of the box solutions as well as some methods of creating more income. With that in mind, here are five helpful strategies that you can use to save and create some extra money. Number one Cancel unnecessary subscriptions These days it seems like every company in the world is offering a subscription service, from the dozens of popular streaming services that exist to gift box subscriptions and beyond. That's a reason though, that so many companies are jumping on the subscription bandwagon. Subscriptions make it easier to get more money out of customers without them noticing. When you sign up for a subscription service, your bank will be charged for the service each month without you having to perform any actions. Over time, these subscription fees can really add up, especially if you are continuously signing up for new subscriptions. To eliminate this hefty drain on your finances, check your bank statement and make note of all the subscription fees you've been charged in a month, determine the subscriptions that you can live without and cancel them for an easy way to save more money. 2. Borrow instead of buying now this doesn't mean taking out a loan. Going in debt to purchase an item is the same thing as purchasing it outright but with interest added on top, and it is always something that should be avoided. Instead, borrow instead of buying is in reference to borrowing things for free. Need a hedge trimmer to trim shrubbery in your yard? Check and see if your neighbors have one that you can use instead of buying a new one. Need a new outfit for an event? If you have a friend that wears the same size clothes as you, you might be able to borrow one from them. In the instances where you can't find a place to borrow something for free, you may be able to rent it for a one time use from a rental service instead of. At any rate, items that you aren't going to use on a regular basis are almost always better borrowed or rented than purchased outright. 3. Eat at home. Whether it is fine dining, fast food, or anything in between, eating out at a restaurant is always going to be more expensive than preparing your own meals at home. There's simply no getting around the fact that purchasing groceries from the store is much more affordable than eating out. Of course, eating out is convenience and a source of enjoyment for many people as well as, and it isn't something that you necessarily have to eliminate altogether. If you are regularly relying on restaurants to prepare your meals rather than fixing them yourself, though, the drain on your savings are sure to add up in a big way. 4. Get a freelance job One of the simplest ways to create more income and increase your budget is to get a freelance job that will supplement your income from your primary career. In the modern world, freelance jobs are more available and wide ranging than ever before, and there is an abundance of online platforms designed to connect freelancers with clients who need their services. The freelance jobs that you will be able to access will depend on your own personal skill sets and talents. If you are a talented artist, then you will have no problem finding work as a freelance graphic designer, while gifted wordsmiths can easily find work as a freelance copywriter. These, of course, are just two examples of the many types of freelance jobs that are out there today. Even if you don't have a specific talent, such as art or writing, you can still find freelance work such as data entry or transcription services or or even rideshare platforms like Uber or Lyft. And finally, number five Sell things you no longer need. One quick and easy way to make an extra buck is to identify items you no longer use or need and sell them. Today, selling unwanted items is easier than ever before. In addition to traditional options such as selling to a friend or putting together a garage sale, you also have dozens of online platforms such as ebay, Craigslist, Offerup, and Let Go that each allow you to sell your items to customers all over the world. In times where funds are limited, finding a few items that you can live without and selling them is a great way to bring some extra cash to help you make it through. Now our question today is which tips can you implement to start saving money today? Leave a comment below and Brian will be sure to follow up with you. Thanks for watching. And remember, as Brian always says, if you want to change your future, take action and take action now.
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