Bringing in extra cash can help make ends meet or pad savings accounts regardless of the current economy, but adding more work to the day might reduce the time you spend with family. What if you could hang out with your partner while bringing in the extra dough? Side gigs make optimal use of skills and resources in many cases. Let’s look at three interesting side gigs you might start and run as a couple.
Tag: savings
3 Things To Consider When Starting an Emergency Fund
Building an emergency fund into your budget can protect you from financial disaster and crushing debt from unforeseen circumstances, such as a car breakdown, unemployment, or a health crisis. Experts recommend saving enough to cover up to six months of expenses. That number might initially seem daunting, but focusing on these three key aspects can help you succeed.
Need a Simple Budget? Try Using Envelopes
Setting up a budget is essential to getting finances in order and keeping them there — as long as you stick to the plan. Using a spreadsheet to outline line-by-line expenditures might work for some people, but there’s a simpler way to keep track of inflows and outflows. The envelope method is an effective way to track physical cash.
What Is a Sinking Fund and Why Have One?
A sinking fund is a tool to save money over time for a big purchase in the future. You create a line item in your budget for the expense, like a vacation, car, or down payment on a house. You “sink” a bit of cash into the fund when you get paid. Eventually, the money accumulates, and before you know it, you’ll have the means to afford the planned item without experiencing a massive impact on your monthly financial obligations.
3 Ways To Save on Your Grocery Budget
Everyone’s budget contains two types of expenses: fixed and variable. While you might have little control over bills set in stone, the others are a bit more flexible. Groceries provide a great example of an expense with considerable wiggle room. Here are several ways you can get the most out of your shopping trip while saving money on food.