How I Saved My First $500
I once found my self in a situation where I only had bank overdrafts. I was always broke and just could not understand it. You can imagine a scenario where you have 2 jobs and you still do not have any money in your bank account.
Living without any money is not fun and after I realized that all my paycheck was going towards paying for the bank fees, I had to find a drastic solution to that. I was both lucky and surprised at how quickly I was able to save my first $500 in my bank account.
1. Tax Refund
It seems obvious at first, but I know I am not the only one who used to take my tax refund to another beer drinking spree or buying new clothes. A tax refund is lump sum and can go a long way towards paying any bank fees that you may have. I managed to pay off a large part of my bank fees and started looking towards paying off some of my credit cards
2.Ebay
Ebay has been good to me. When I realized I could get rid of stuff I never needed and make money at it, I was excited to say the least. Now add Craigslist to the list and you can always find a source to sell all those old systems that you never ever use. By the time I was through selling my old items in my room, I was hooked on ebay and craigslist.
3. Saving My Change
Once you realize how much money you can save with a piggy bank, you will never be without one. I now have a habit of even collecting change in the streets.I know you will say that is nasty but until one of you pays my bills this month, I will continue collecting my coins. It is very liberating knowing that even when I get pennies in change, they actually do add up at the end of the month.
4. I Bought Nothing
To finish up the $500 , I decided not to buy anything for that month. When I say buy nothing, I mean I only bought the necessities. I only bought food I was going to eat that day, I did not eat out, I did not spend on anything that I did not need to survive. By the time the month was over, I had saved $1000 and felt much better .
Try it, you will be surprised at the things you will never need and the amount of money you will be able to save for yourself.
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