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Debt Destroy

Three Good Ways to Save Money, and Make money at the same time!



 Freelancer Tips, Tricks, and Advice! - Posted: 3/29/2009
Now this is a pretty simple solution so listen in closely. Make seperate accounts. What do I mean? Make an account to store money for any sort of bills, make an account for savings, and make an account for alternate sources of revenue such as freelance jobs on the internet, or independent contractor type of jobs/ the account can also be used as "rainy day funds"

    So let's say you work a standard fulltime job. Before anything, first determine the bills you will owe for that month. Combine all your "needs". You need to pay the bills, you need to put a certain amount of money into general survival such is food, water, shelter etc. and i'm sure there are a few other needs as well. There is not necessarily a "need" to watch TV, or a "need" for a fast internet(unless you do some sort of business from home.). If you can't afford them with the monthly income you make try to figure out means to boost that monthly income, or. Drop those fancy things and scale down to something that you can afford while saving at the same time. You don't want to make $1300+ a month and put $1100 into your bills. Because then you're only saving $200 for your wants and savings. That's not very much for both of them since a majority of that spare money should probably go into savings only leaving yourself with maybe $20-$30 possibly a bit more for your wants!!

    Anyways, after covering your Need's basis you move on to your savings.. before your wants. You want to save at least 10-15% of what you make to be stuck in a high-interest savings account.(The more you make above a standard worker the less of an amount you'll generally have to save.) The idea behind this account is to simply stick in 10-15% each month and don't touch the savings account until whenever you deem you're ready for retirement(or if money gets a bit too tight and you have no other choice!). It's probably best to choose a savings account that best fits your needs. If you can't figure what your needs are, it's probably best to hire a consultant to help you along the way.

    After getting all your Needs out of the way as in putting the money for bills into one account & savings account money into another account, whatever is left is your "wants" fund so you'll know exactly what you have to spare. Keep in mind that it's probably best to leave a little extra just in case of a "rainy day" or unexpected turn of events where an extra bill might need to be paid. It might also be simplier to simply have a little extra money to spare in your "bills" account but it's your choice, really. It's also helpful if you have time to find an alternate source of obtaining revenue to stick in this spare 3rd account aside from your fulltime job to help to boost your "wants" and rainy-day funds. There are more then enough freelancing opprotunities on the internet that you can find to fairly easily boost that income. It might simply be an extra $100-$300+ a month, but hey. $100-$300+ a month adds up to quite a lot over time and it's money you wouldn't have otherwise! That, and there are quite a few things you can do to build up a residual so that you have a steady amount of money coming in each month after doing a certain amount of tasks online. If you're interested in getting started with some Freelance Jobs you can check out the links to the right to get you started in no time to make an extra side income online!

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