How to Make More Money Each Month While Having a Full Time Job (PART II)

 

Making money Step 1: the right Credit Cards

• Choose a credit card that has a cash back feature check out bankrates.com for a list of credit cards offers (also check with your current back to see what they have to offer)
• Make sure there are NO annual credit card fees (interest rate doesn’t matter too much since you will never pay interest rate if you pay it off each month before the bill is due)
• Ensure that this credit card is linked to your checking account so you can do online payments or payment with your smart phone
• You should use your credit card for all purchases that you make on a regular basis that DOES NOT charge a transaction fee (example: you ask to pay your rent with your credit card and your landlord says that they charge $15 to process your credit card… that’s a good sign NOT to use your credit card to pay your rent)
• SO HOW DOES USING A CREDIT CARD MAKES ME MONEY??? Simple cash back bonuses… most credit card companies give you at least 1% cash back on all purchases made with your credit card. So if you buy a bottle of water for $1.00 you will receive $0.01 back. Doesn’t seem like much at first but think about all the things you NEED (not want) to buy all year: groceries, gas, office supplies, printer paper, coffee*, diapers…… that 1% cash back adds up and could buy you a nice holiday gift at the end of the year (see: Use Credit Cards to Buy Free Holiday Gifts)

Obviously there are stipulations to using your credit card….

• First you must NOT carry any balance on your credit card (you must pay your credit card in FULL each month). In fact pay your credit card off each week.
• Again use it only for necessities not to splurge or buy crap you don’t need (i.e a new phone just because it’s a new I-crap)
• Make sure there are no hidden fees nor any annual fees for having the credit card

According to a www.bls.gov 2013 Economic News Release on Consumer Expenditures the average American spend $7,248 a year on groceries, $1,604 a year on Apparel and services, $9,004 a year on Transportation, $2482 on Entertainment, and $5528 on Personal insurance.

That’s a total of $25,866. Assuming that was all purchased with the same credit card you would have netted about $256 cash back (HEY IT’S FREE MONEY don’t leave it on the table).

Making money Step 2: paying off credit cards debt and other loans

This is a simple one you might have credit card debt or student loans. First with any debt you should be acting like your hair is on fire and try your best to put it out. For example, by getting rid of your student loans you will automatically save 4% each year in interest fees (15% to 25% for credit card). So if you have extra cash put it towards getting rid of debt… once you do you will see how easy it is to save.

 

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Making money Step 3: get more from your bank. Don’t be loyal to crappy banks

If your local saving bank account is paying you 0.01% annually you should probably switch to a online savings account such as ally.com or capitalon360.com. These banks carry the same FDIC insurance as the “name brand” banks you are used to. The different is that they offer better rate currently ally is about 1% that about 10x to 100x times better than what some local banks were giving. I know 1% is not a lot but it sure beat zero percent.

Check out bankrate for high yield checking

Making money Step 4: Get a weekend job delivering and driving

With merger of technology and entrepreneurship services such as UBER, LIFT and DOORDASH you can use your smart phone and vehicle to make extra cash by doing deliveries (doordash.com), providing taxi service (uber.com and lift.com)

https://www.doordash.com/driver/apply/#driver-apply-anchor

Making money Step 4: Have an extra room rent it out on the weekends

Again with technology meeting entrepreneurship we now have the ability to easily operate a bed and breakfast like service out of your own home. With airbnb you can rent a room, a sofa or a tent in you your backyard to travelers. For more information on this go to www.youtube.com and do a search for airBnB

Making Money Step 5: being frugal

1. Bring lunch to work
2. Take public transportation
3. Drop your landline and rely on your cell phone
4. Reassess your savings accounts
5. Make your gifts
6. Make your own cleaning products, like detergent and carpet cleaner
7. Cook more and eat out less often
8. Be aware of bank fees
9. Make a list before grocery shopping
10. Grocery shop at lower-priced supermarkets like ethnic stores
11. Buy generic products
12. Don’t go to the grocery store when hungry
13. Entertain indoors
14. Explore free activities on the weekend
15. Use Credit Cards to Buy Free Holiday Gifts
16. Wait on purchases before buying them
17. Get a home energy audit
18. Seal up air leaks in your home to cut heating and cooling costs
19. Buy generic medicine
20. Use your health benefits
21. Skype instead of making long-distance calls
22. Turn roaming off and rely on WiFi when traveling
23. Know the right things to buy in bulk
24. Reassess your Internet and cable provider and see if you can find a cheaper plan
25. Turn off lights that aren’t in use
26. Unplug electronics when not in use
27. Use cold water to wash your clothes
28. Hang dry your clothing instead of tumbling it in the dryer
29. Hand wash your clothing instead of taking it to the dry cleaner when possible
30. Drink tap water instead of bottled water. Consider investing in a filter
31. Cancel cable and watch your favorite shows online
32. Work out outdoors, play sports, or go to a friend’s gym instead of paying for a gym membership
33. Shop at the farmers market
34. Swap clothes, bags, and accessories with friends
35. Google coupons before buying something online
36. Renegotiate your cell phone plan, find a new carrier, or cancel some features to save money
37. Use a prepaid phone instead of signing up for a phone plan
38. Read books and magazines from the library
39. Make your own coffee at home
40. Return the purchases you need to return
41. Sell your old things
42. Buy used items
43. Automate payments so you won’t forget and be charged with late fees
44. Negotiate a lower APR
45. Upcycle your old items instead of throwing them away
46. Always comparison shop
47. Find a good rewards credit card and use it smartly
48. Book trips early
49. Stock up on holiday decor after the holidays
50. Don’t feel obligated to say yes to every invitation (this includes weddings, dinners, events, etc.)
51. Eat right and exercise and get enough sleep, so you won’t have to pay with your health
52. Pay bills online to save on postage
53. Stop smoking
54. Stop drinking soda
55. Compare gas prices to find the most affordable gas with sites like GasBuddy.com
56. Get beauty treatments from trainee beauticians
57. Keep plastic takeout containers for future use
58. Wash dishes in a full dishwasher
59. Avoid out-of-network ATMs
60. Keep track of your money with a spreadsheet or Mint.com
61. Plan out your meals for the week
62. Refill printer ink instead of buying new cartridges
63. Brush and floss every day and take care of your teeth to prevent pricey dental bills
64. Keep your receipt or take a picture of it in case you want to return an item
65. Vacation closer to home
66. Don’t check in your luggage
67. Check out airbnb  instead of hotels
68. Travel during an off-peak season or time
69. Travel to an underrated place instead of famous tourist spots
70. Use reusable grocery bags
71. Find a place with lower rent or get roommates
72. Join loyalty programs
73. Wait for daily deals for services you like, such as dental cleaning or a massage
74. Feed your pet the right foods and keep it in shape to reduce vet bills
75. Work toward getting a better credit score so you’ll be quoted cheaper rates
76. Review your receipts to make sure you’re not being charged for odd items
77. Check your bank account daily to make sure there aren’t any weird charges
78. Always try to wait for a sale before buying something
79. Don’t use your credit card overseas unless it doesn’t have foreign transaction fees
80. Rent movies instead of going to the theater

Ok that’s it for now. Please like, subscribe to blog, and post comments/suggestions below. I will add more ways to make money in a few for now get started on what’s listed above.

The Ultimate Guide to Get Your Expensive Perfumes and Colognes 40% to 70% Off