Everyone loves to make a little extra money and while we can’t increase your salary, we can give you a few bits of advice that will help you get a little more from the money you already make. Follow this advice and you’ll be able to pay yourself just a little more this month.

 

1. Stick with a written budget

Are you disappointed that it was something so… obvious? Time (and countless success stories) have proven that those who write down every expenditure for the month IN ADVANCE, and stick to it religiously, spend far less than those who just spend their money until it runs out. Sit down with your family and make a game plan. You’ll be surprised at the end of the month–and not that nasty surprise that an overdrawn account brings.

2. Use the Dave Ramsey “envelope system”

 

We believe very highly in budgeting and that’s simply because we know it works. One of the most common reasons behind a budget failing is due to a lack of discipline. Using an envelope system to store the cash you’ve allotted to each area helps to ensure discipline. If you commit to only spending what you’ve placed in your envelop and use only the envelope that applies to that area, your money will stay with you longer and will go a lot further.

 

  1. Identify things that can derail your budget

 

Every one of us has an area where we’re prone to overspend. These are the things that constantly derail your budget and knock your plan out off schedule. Typically, it’s things such as eating out, activities and entertainment. Keep an eye on these things and you can start telling your money where to go instead of wondering where it went. Use your imagination. Do you make occasional “tiny” or inconsequential purchases online that might add up over the month? Do you fail to plan for expenses like your daily latte or a pack of smokes? If you occasionally go out for pizza for friends, did you plan for that possibility in your budget?

 

  1. Change is good

We aren’t talking politics here. Pay with cash, and put the coins somewhere where they aren’t handy to you. You know what I’m talking about–the change jar! At the end of the month (or wait two), turn in your coins, and you might find that your lucky pennies have added up to an even-luckier night out or even a payment for a bill.

 

Looking for more advice in your financial planning? Our team of certified public accountants can help. We are a Dave Ramsey Endorsed Local Provider located in Joplin, MO and would love to help you and your family in your financial journey. Contact us today to learn how we can help you.