"But I just can't save $1000 for my BEF!"Here are some ideas -
1. Sell something - ebay, Craigslist or a yard sale are all great places to start.
2. Make only the minimum monthly payments on your credit cards - It really doesn't make sense to send extra money to the credit card company if you aren't prepared for an emergency and "have" to charge it, does it? Besides, you will be doing this once you start your debt snowball anyway.
3. Cash in your rip off insurance policy - Dave Ramsey recommends that you keep a term life policy. If you are unlucky enough to have a cash value plan, now is the time to cash it in and use the money to help kick start your financial future.
4. Stop going out to eat - If you use restaurant meals as a time saver, try cooking during your down time. Work all week? Use your days off to stock the refrigerator and freezer for the upcoming week, or have ingredients on hand for a few quick meals. Instead of ordering pizza, try making it at home.
5. Spend less on groceries - Designate one night vegetarian night, one night soup and sandwich night and one night casserole (just for example. Do whatever you want to cut your grocery bill.) Add the money you saved to your BEF.
6. Skip the salon - Cut and color your own hair. Do your own eyebrows. Paint your own nails. It won't kill you... I promise.
7. Use the library - I'll admit that some libraries are better than others, but you can usually get most books, magazines and even movies you want through the library. Ask about inter library loans, if your library doesn't have what you are looking for.
8. Put your online movie rental account on hold - Netflix allows you to put your account on hold for up to 90 days. I am not sure if Blockbuster allows it, but you can always ask. Better yet, just cancel the subscription all together.
9. Have the kids brown bag it - At my local school district, school lunches are $2.25. Packing lunch for a month will save you $45... before you factor in what you spent to pack. Hillbilly Housewife has a great article about the basics of packing lunch, including everything from what to pack your lunch in, to nutritional information.
10. You brown bag it - Take leftovers from dinner the night before, take a PB&J... whatever you decide, it has to be cheaper than the local fast food place!
What are some ways you can think of to save your Baby Emergency Fund?
Picture from flickr
3 comments:
6. Instead of cutting and coloring your own hair, which could result in disaster, go to a beauty school.
They're learning, they need the practice, and it's a whole lot cheaper than a salon. We're talking maybe 5 bucks for a hair cut and 20 for coloring.
It might not be perfect, but it will probably be better than trying to do it on your own.
Good idea! I can't believe that I forgot that. When we lived in Detroit I used to go to the beauty school just down the street from us for just about everything.
Thanks for the reminder. :o)
You're welcome.
We're all allowed to splurge a little, right? lol
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