What’s The Best Was To Save Or Make Some Extra Money When You Have Very Little?
A Reader Asks…
What’s the best way to save money, when you have very little?
I have started an ingdirect savaings account, sell old CDs and books on Amazon and sell items at flea markets. How else can I make money or save extra money?
I’ve read that once I have a few hundred I should roll over my savings into a CD which will allow me to earn more interest. Good idea or do you have a better idea?
(Scroll down to see responses)
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Tags: Best, Extra, Have, Make, Money, Save, Some, Very, Whats, When
August 16th, 2009 at 2:11 am
work. if you have a job, get another part time job.
August 16th, 2009 at 3:45 am
How about Purse Party?? Thats’ what I do for extra money and it’s great!
August 16th, 2009 at 6:32 am
Work a second job if possible.
Rather that tying money up in a CD, look into some online savings accounts. Some pay as much and some even more than CD’s but you can get to the money within 2-3 days instead of having to wait for a CD to mature.
Check this link to some online savings accounts…http://www.emoneycentral.com/Savings-Mon…
August 16th, 2009 at 9:04 am
If you use tobacco, quit cold turkey.
August 16th, 2009 at 3:39 pm
Sounds to me like you are doing a good job of coming up with ways to save money. When I am out and want to splurge on a say a Big Mac or Starbucks I take the price of what I want and instead of purchasing I save that amount. It has added up to a little and every little bit helps, right?
Saving is hard and sacrificing to do it is even harder at times. But in a few years you will look back and realize not one thing that you gave up would have made your life better but, what you saved is a great reward.
At least if you roll the savings over into a CD you do not have immediate access to it. And the temptation of dipping into your saving is gone. I am sure there may be better ideas out there but, if you are just getting started and only having a few hundred I would think the CD idea would be a great start.
Congratulations on a great job so far. Good Luck.
August 16th, 2009 at 10:14 pm
Selling old CDs and books is definitely going the right direction to make some extra money. Savings CDs are great for the short-term, but I would look into some other investments for the long-term. The best thing to do is to talk with a financial planner about options such as stocks, commodities, and many other things available.