15 ways to find EXTRA money in your budget??

Last week I talked ALL about SINKING FUNDS and how to plan ahead for upcoming expenses like holidays, back to school etc. BUT what if you DIDN’T plan ahead and now it is nearly October and you do not have cash squirreled away for Christmas?? ORRR what if you still have some debt in the back of your mind that you would like to get a jump on?? Or better yet, what if you just want to add some extra cash to your savings?? Here are a few tips and tricks that will help you squeeze some extra cash out of your already tight budget. ORRR just help you start a little nest egg for something you have been dreaming about. The trick is to FIND that extra money in your current budget.

The first and most important step to finding extra money in your budget is to figure out WHY you need/want that extra money. Is it to pay off debt quicker, to fund Easter, to pay back your Mother in law, to pay for a vacation, to start your emergency fund, or to increase your savings?? Whatever your WHY is, you need to make sure you keep that reason in the front of your mind during this time. There will come a point in the process (or a few points) when you want to give up, but JUST KEEP REMEMBERING WHY YOU ARE DOING THIS!!

Once you have your WHY, it is time to find some extra money in your budget!!!

1. Track your spending

The first step to finding your extra money, is to figure out where it is going. Spend some time tracking your spending and REALLY see where your cash is going. I have a whole post about tracking your spending including a free printable spending tracker…so I will not go all in to that here. BUTTTT trust me…it might be an eye opener. IT WAS FOR ME!!!

2. Plan a spending ban:

It sounds sooooo simple, but the easiest way to find some extra money is to STOP SPENDING!! Pick a week and just DO NOT SPEND ANY MONEY. No online shopping, no quick trips to the grocery store, NO SPENDING. To some it may sound tricky…and it CAN be, but it can also save you some quick cash.

Make a plan for the money you save. If you have a WHY before you start, you will be more likely to stick it out. For example, if you are saving for a vacation, just keep thinking…I can do without this ________ right now, so that I can enjoy some time on the beach later. Maybe even put up a vacation picture on your mirror or as your phone screen to remind you WHY you are limiting yourself.

And to answer your questions…yes I still pay normal bills, buy gas, and send money to my kid’s school if necessary. But honestly try to stay away from your money as much as possible. Nothing is more tempting than when it is forbidden:)

BUTTTT the most important part is to take the extra money you find from that week’s budget and use it for something else. You can put it into your sinking funds, pay off debt, put it into savings, add to your emergency fund, start a vacation fund, buy Christmas presents…anything OTHER than just keep it in your bank account and waste it on the NEXT week. Remember your WHY and use that money wisely.

3. Sell household items you no longer use:

We ALLLLL have a few items around the house that we no longer want or need…GET RID OF THEM!! Pop those babies up on FB marketplace or Craigslist and get some cash. EVERY little bit helps. Even if you only sell something for $20. If you sell 5 items at $20 a pop, you will have an extra $100 to throw towards your debt or into your sinking funds. And do you know what else??? Ask your friends and family if they have anything they want to get rid of too. Most people would rather just give you their junk and let you deal with the process of listing and selling it. Grandma’s old table in the garage that nobody wants…list it. Trust me…Grandma would want you to be debt free.

4. Have a yard sale:

If you REALLY want to get serious, have a yard sale. It is a bit of a hassle, people are TRULY annoying, and it can sometimes be awkward to have people rummage through your stuff. BUTTT the goal is to find some extra money…so the hassle can be totally worth it. PLUS as an added bonus, you can get some extra space back in your house and begin to organize. Grab a friend and have a joint sale…everything is more fun and less awkward when you are with your friends. BUT again…do not spend your profits!!! Take that money and put it towards your WHY!!

5. Return recent purchases:

If you are anything like me, you drive around with 2-3 bags in your passenger seat of items that need to be returned. Or you bring things home to think about and then forget to return them and THEN decide you do not like them. One day I made my husband go around to 4 or 5 different stores returning stuff and he legitimately thought I was insane. BUTTT at the end of the day I had $150 in my account that was NOT there when I woke up, so WHO is actually the crazy one??

Just to be clear, I am not talking about returning opened or used items or items that SHOULD not be returned. Just those things that you may have purchased on a whim a few weeks back and have hiding in the bottom of the closet. Or those cute boots you were not sure about that are riding around in your trunk…you know who you are!!

The most important part is to take that return money and put it towards your sinking fund (or whatever your goal is). DO NOT JUST PUT IT BACK INTO YOUR ACCOUNT AND THEN SPEND IT AGAIN!!

6. Simplify dinner:

When you create your meal plans, remember to leave a few days SUPER simple. Maybe a meatless meal or a quick and easy recipe with 3-4 ingredients. Not EVERY meal has to be a 5 course idea. Throw in a grilled cheese night, or eggs and pancakes. Use anything that you have on hand and try cutting your grocery budget by 25% or more. If your normal grocery budget is $150 per week and you cut down by 25%, you would save $150 in a month JUST from your grocery budget. Remember that $100 per person is recommended for a thrifty family grocery budget, so try getting closer to that budget if you are over spending on groceries every month.

Do I even need to say it??? Take that extra money you find and SAVE IT!! If you saved $15 on groceries this trip, put it into a separate envelope or account. Every little bit counts. If you can save $15 on 5 trips to the store, that is $75 dollars to add to your sinking funds.

7. Use what you have:

This goes for ALL the things. Instead of running to the store for EVERY little item, try using what you have. I KNOW pretty much EVERY woman has 47 half used beauty products in their bathroom. Try using up what you have before purchasing something else. Keep your WHY in mind and use that shampoo that ISN’T your favorite. Use cream of chicken soup instead of cream of mushroom (because mushrooms are super gross anyway). Plan your meals around what is already in your fridge and pantry instead of heading to the grocery store.

There is a great resource over at shelfcooking.com that can help you get started on using what food you have already in your freezer and pantry and tackling your enormous grocery bill. I always know that if I am spending too much money…it is USUALLY because I am wasting food and I need to cut the grocery budget.

8. Only buy essentials:

Divide everything up into a NEED or a want, BUTTTTT you REALLY have to get serious with yourself on this one. Eliminate all of those convenience items…anything pre-packaged or pre-cut. Cut out ANYTHING that is not necessary. This is NOT forever, so make some sacrifices. If you are buying a case of pop a week, cut that out of the budget. If you are headed through the coffee line every morning, cut that trip right out. OR if you grab snacks at the gas station every time you stop, start paying at the pump.

Even items that cost very little…like paper plates for example…do you really NEED them??? A lot of what we buy is just to make our lives easier, more fun, and more convenient…but we can do without for a while to meet our goals!! REALLY think about if something is a need or a want. For example, if you are buying ice-cream cones, ask yourself if you could just eat your ice-cream from a bowl. ORRR better yet, could you give up your nightly ice-cream for a few months in order to take your dream vacation?? Once you meet your savings goal…or pay off debt…or fill your sinking funds…then you can add these items back in. ORRRR you might eventually get to the point where you no longer even miss them (obviously not ice-cream though…I would never ask anyone to give up ice-cream!!!).

9. Skip eating out:

We ALLL know that eating out is expensive and that eating at home will save us money. We know it…but that does not mean we LOVE giving it up. Keep your goal in mind and set your mind to it. If you normally eat out once a week, cut that down to once a month and you could save an extra $40 to $100 dollars. Remember that you are saving money now so that you can live the life you REALLY want later. Keep your goals fresh in your mind to take the sting off of having to cook for yourself. Do you want to eat at Applebees today, or eat the best croissant of your life in Paris next year??

10. Earn more money:

Whether it is a part time job, an etsy shop, or dog watching…it doesn’t matter. Just try to find another income stream to help you reach your goals. There are more and more opportunities for side hustles EVERY day; delivering food, driving people to the airport, donating plasma, transcribing, taking surveys, direct sales, teaching English online, ebates…the sky is the limit for what you CAN do. BUTTT remember, once you find that extra money hiding in your budget, SAVE it!!

11. Cash in credit card points:

I love saving my Capital One points for the Holiday season. I can cash them in for gift cards for Target and Walmart and then drop those gift cards DIRECTLY into my sinking fund envelopes. DO NOT use credit cards though if you are not financially responsible with them…the points are NOT worth going into debt for!!

12. Eliminate unnecessary subscriptions:

After I started tracking my spending, I realized I was paying $60 automatically to monthly subscriptions. When I REALLY looked closely, $20 worth was for Amazon programs I didn’t even realize I had. They like to give you the first month free and then BOOM after 30 days you are paying $10 a month for something you don’t even need. And somehow my kids sign me up for ALL sorts of “free” stuff that turns into a monthly expense. Check your bank statements for the previous few months and see what money is being taken DIRECTLY out of your account. I guarantee you will find money leaving for crap you do not even want.

13. Opt out of daily emails:

If you CANNOT ignore the call of the DAILY DEAL emails…un-subscribe!! It can be miserable to try to online window shop when you are on a spending freeze…it is MUCH easier to just delete the emails. You know how to find Old Navy on your own…you do not need an email every day to remind you that you love to shop there!!

14. Plan a daily/weekly/monthly challenge:

Sometimes the best solutions are the simplest. If you are a competitive person or someone who needs a good challenge, creating a challenge for your money might be a good strategy. For example, you could challenge yourself to take ONE dollar per day from your spending money and add it to your sinking fund. You choose which area of your budget that it comes from, just simply transfer it EVERY day. YOU won’t miss just $1, but at the end of the month you will have saved an extra $30. Or what if you saved $3 per day…that would leave you with $90!!! If you saved $1 a day for a year that is $365 extra dollars. Or $3 per day would be $1,095 extra dollars saved after one year. You could fund a fun trip by just putting away $3 each day into an envelope or savings account!!!

15. Cut your budget:

This one seems like a DUH response, but what I mean is REALLY get involved and cut into that budget. Take items that you THINK are firm and try to save a little. Remember this is SHORT term and is supposed to hurt a little bit…or a lot a bit!! Cut out your clothing allowance for a few months, or eliminate your date night budget and watch a movie at home. Take a GOOD long look at your spending tracker and see where your extra dollars are going….and then STOP THEM!!! There are SOOO many extra dollars already in our budgets, but we just have to move them around and make them work.

The hardest part of the budgeting process is getting started. Once you take that FIRST big step in the right direction and get the momentum going, it just gets better and better. Once you save the first $1 and then the first $20 and then FINALLY the first $100, it is such a great feeling. And the easiest way to start something…ONE STEP AT A TIME. Take a step…then another one…and another one. And keep going until you reach your WHY…and then come up with an even better WHY and start all over again!!!

Happy saving!! If you wanna join me, I will be starting a few money saving challenges in October and would LOVE to have company along the way. Subscribe to my email list to get all of the info. Chat soon. Jess

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