How To Add $5,000 To Your Savings Account (Even If You Never Have Any Spare Cash)
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  1. #1
    Registered User Contrary Housewife's Avatar
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    Default How To Add $5,000 To Your Savings Account (Even If You Never Have Any Spare Cash)

    "Saving money is more than clipping coupons and opening a savings account. There are hundreds of hacks that can help you to squeeze a couple more dollars out of your earnings. Here are some of our favorite and most creative ways to save money."

    https://www.themoneymanual.com/save-money/

    Most of these have links to apps or online services, but you don't need to use them in order to save money or reduce spending.
    Stop trying to organize all of your family’s crap. If organization worked for you, you’d have rocked it by now. It’s time to ditch stuff and de-crapify your world.

    If you're not using the stuff in your home, get rid of it. You're not going to start using it more by shoving it into a closet.

    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

    A clean house is a sign of a wasted life. ~unknown

  2. #2
    Registered User KathyB's Avatar
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    Has anyone actually done any of the phone app games you are supposed to make money from? I am a bit suspicious of them. I looked at one once, but the reviews were pretty bad. You had to play quite a bit just to get a tiny bit of money. And some people claimed they did not get the payouts the game said they earned. Of course, like most app games there were in app purchases you could buy to boost your scores.

    What would the app designer get out of this? Sometimes someone will write a totally free app just because they want to help people. But most apps have some kind of money generating component. Free apps generally have advertising and in app purchases to make money. No one would make an app that they loose money off of.

    I wonder if the person writing this actually played the games. I feel like they probably just searched for apps and put down ones that sounded good.
    KathyB

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    Registered User CPA-Kim's Avatar
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    I think many people fail to assign a value to their time. Some spend hours to save a few bucks. I think once you assign a monetary value to your time, other things fall into place.
    Kim
    The Lord will provide

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  5. #4
    Registered User Spirit Deer's Avatar
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    I was thinking the same thing.

  6. #5
    Registered User KathyB's Avatar
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    I agree that you should value your time, but I feel like putting a specific dollar value on it is kind of squishy.

    Some things are obvious, like do not spend a hour or more on things that will only save a tiny bit of money.

    But some people genuinely enjoy things like cooking and DIY projects that save money. I would rate that very differently than doing something you think is a hassle to save some money.

    Although I am not paid by the hour, I can easily calculate how much I get per hour. Or maybe more accurately how much I get paid after taxes. A dollar saved is a dollar, but a dollar earned is less than a dollar after taxes.

    Someone on one of the financial forums said that since he earned $50 a hour, he does not do any money saving things that save less than $50 an hour. But his job situation was such that he could just work an extra hour if he wanted an extra $50. But I think that most people are not in situations where they could simply work an extra an hour or two if they wanted more money. I'm not. Most people don't earn $50 an hour either, but that is a different issue.

    I do feel like if I was in that type of situation my ideas on frugalness might change.

    In general though I think ideas of how much work is reasonable to save a buck varies depending on your income. That is loosely related to how much your time is worth.

    Thinking of retirement is part of "what is your time worth." I plan to retire at age 59 which is a little on the early size. That is when I can claim my pension. Now my pension would be higher if I worked longer. And social security would be more. And my retirement fund would probably be better as well. From a pure finance perspective, it is better to wait. But giving up the extra money is worth it to me. I value having more free time to spend with my husband and do the things I enjoy worth it.
    KathyB

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    Registered User Contrary Housewife's Avatar
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    I think your time is only worth what someone will pay you for it, or what you can hustle out of it. People will say "My time is worth $20 an hour" and won't take jobs that pay less. But it's not really. Nobody is going to pay you $20 to sit on your couch. But someone might pay you $15 to mow their lawn on your day off. If you haven't got a job or you are not working on Saturday, your time is worth zero, because nobody is willing to give you money. It might be worth it to spend an hour collecting cans on the side of the road for an extra $7, or pick up some part time hours at Walmart if the extra cash is needed. Likewise, I could sit home and read internet forums all day -- where my time is worth zero, or I could spend a couple hours snipping coupons and looking up sales and save $30 of my husband's money -- in which case my time was worth $15 an hour. If you're living paycheck to paycheck like most Americans, that's a big difference.
    Stop trying to organize all of your family’s crap. If organization worked for you, you’d have rocked it by now. It’s time to ditch stuff and de-crapify your world.

    If you're not using the stuff in your home, get rid of it. You're not going to start using it more by shoving it into a closet.

    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

    A clean house is a sign of a wasted life. ~unknown

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    Registered User bookwormpeg's Avatar
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    Kathy B.....I use Ibotta, Checkout 51 and Shopkick. I am not very good at it but right now I have a $5 Walmart gift card and $25 on Checkout 51....I am not very good about checking these but when I do, I usually get a couple of bucks and it adds up.....I have friends who get $50 just about every month...of course she has a family she buys for....I only shop for 2 and we don't eat like we uses to........to me it's easy money and I don't stress over it....

  9. #8
    Registered User MaryinFL's Avatar
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    Quote Originally Posted by Contrary Housewife View Post
    "Saving money is more than clipping coupons and opening a savings account. There are hundreds of hacks that can help you to squeeze a couple more dollars out of your earnings. Here are some of our favorite and most creative ways to save money."

    https://www.themoneymanual.com/save-money/

    Most of these have links to apps or online services, but you don't need to use them in order to save money or reduce spending.
    At one time I tried to do the online survey thing. It seemed that I would spend 5-10 minutes answering questions only to be told I didn't qualify for the payment due to either owning a home, or one of their other perimeters that they didn't disclose beforehand. I almost felt like they had gotten the answers they wanted and then found a way to duck out. I have been leary ever since and stopped trying.

  10. #9
    Registered User KathyB's Avatar
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    Sometimes it not necessarily about how much someone will pay you for that hour. It is about how much you would be willing to pay to have an extra hour of free time.

    Years ago, I worked at a job with a holiday party at a nearby restaurant that cost $30. If you went to the party, you would be entitled to four hours of leave for the party. One guy showed up ate a single cookie, chatted with people for a few minutes and left. Later his co-workers said why spend $30 if you are going to eat one cookie and leave. He said it was worth $30 to be able to leave work four hours early that day.

    I think it comes down to quality of life. Quantifying time as money is one way to look at it. But I feel like it is an awkward way to put it.

    Money can increase your quality of life. It can prevent bad things like being homeless or not having food to eat. It can give you a better home, a home in safer neighborhood, a home in a better neighborhood, better food, nicer clothes, more hobby supplies, opportunity to enjoy more leisure activities that are pricey. Money gives us choices. For example, if I am low on money, I might only be able to afford the store brand groceries. If I am doing good on money, I could choose between the store brand, a name brand or a high-end gourmet brand. I might still get the store brand, but it is my choice.

    Time is also a factor in quality of life. Having time to do the things you like, time to relax, and time to spend with friends and family all contribute to your quality of life. Having two free hours a day is better than having half an hour of free time a day. Having no free time, or very little free time, can lead to bad things such stress, depression, burnout, mental health issues and physical health issues.

    In this part of the country, because of bad traffic and close in homes being pricey, it is not unusual for a commute to be over an hour each way. I work nine hours days (in exchange for having a day off every other week). I get home 12 hours after I leave for work in the morning. And that is not considered unusual here. There are lots of people here who are “time poor.”

    The less money you have the more precious it becomes. Saving $30 is more important to someone who has less money than it is to someone with more money. But time also becomes more precious the less you have. Saving two hours is more important to someone with less free time than it is for someone with more free time.
    KathyB

  11. #10
    Registered User Contrary Housewife's Avatar
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    You are right Kathy. DH values his free time. He would rather pay someone to do yard work than spend his day off getting hot and dirty and tired out. And it is cheaper to pay a menial worker, than for him to take an hour off work to do it. That was why I bought him an electric saw this spring, so he could spend less time in the yard and more time relaxing. The money for the saw wasn't as needed as his time off work. He doesn't do car repairs or oil changes either. Someone with that skill can do it in 15 mins, where it would take DH an hour and he'd be dirty and grumpy afterward. There are some guys who are very handy that way, DH isn't one of them. OTOH, if your accounts payable isn't, and weird error messages are popping up and the database is filled with blank data fields, DH is the guy you want.
    Stop trying to organize all of your family’s crap. If organization worked for you, you’d have rocked it by now. It’s time to ditch stuff and de-crapify your world.

    If you're not using the stuff in your home, get rid of it. You're not going to start using it more by shoving it into a closet.

    Use it up, Wear it out,
    Make it do, Or do without. ~unknown

    A clean house is a sign of a wasted life. ~unknown

  12. #11
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    I also have done the survey thing for money, er well tried. Didn't go so well. I decided I was going to try to make some extra money doing those silly surveys on weekends to help supplement my corp america job. Well I quickly realized I'd spend hours on these surveys only to qualify for $0.50.

    I'd imagine it would be similar with an app, the creators of the apps do NOT do anything for free. They are likely gathering data for companies, advertising, etc.

    I have used apps like Ibotta and such and I continue to use them. One big thing is I don't go out of my way for them. Ibotta is awesome because you can get money back just for shopping like you normally would. (I don't let it steer me in another direction to get more expensive products for example). When I consistently do it I probably get $20-50 a month back. Now is that a crazy high amount? No way, but time is money and this is money I get back without putting any real extra time back into it.

    Its all a balance of your time and what it is worth to you.

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