Post Holiday Savings

After every holiday season spending spree, how many of you feel like you’re cash-strapped? With the six tips below, I can help you bounce back from your spending extravaganza in stride — and help you plan to save for next year.

Sell Unwanted Gifts

Head to eBay, Craigslist or Amazon to sell your unwanted gift. Did you receive a gift card to a place you never shop at? You can actually turn it into cash you can put towards your savings! With Gift Card Granny, you can sell your unused gift card to someone who will use it. You may not get full price for the card, but it will be something you can put towards your savings.

Tip: This site is also a great place to purchase gift cards for yourself. You pay a small fraction less than what the gift card sells for — meaning you can save a few dollars here and there!

Hit Unsubscribe

Take a moment to think about how many emails per day you get about sales. It’s tempting to go shopping, isn’t it? Put a stop to the temptation and unsubscribe from those emails. The button is usually in small text at the bottom of the email. Tricky, right? Your wallet will thank you.

Review Your Budget

You might have some wiggle-room with your monthly income. Take a look at your budget and note how much you’re actually spending per month. If you notice you have extra money, take a fraction of that to put into savings. You can make it a game to see how much more you can contribute to your savings each month by slowly increasing the dollar amount that goes into your savings account.

Have a Change Jar

This is a small, but effective trick for saving money. At the end of each day, empty your pockets of change to donate to your “coin jar fund.” However, be careful with this strategy because it may be tempting to steal money out of the jar. To maximize your change jar savings…

  • Have a coin slot so it’s harder to steal money out of the jar.
  • Use a clear jar so you can visually see the savings you’re making.
  • Make sure the jar is large. When it’s full, you will be amazed at the amount of money you’ve saved.

Make Extra Money with a Side Hobby

Maximize your passion by turning it into a side job. Do you love to knit? Sell your items on Etsy. If you love to write in your free time, think about freelancing. Upwork, Freelancer, and Freelance Writing Gigs are good places to start. There are plenty of other industries that need freelancers as well — graphic design, web development, construction, coders, and salespeople are just a few. Put your earnings directly into your savings account.

Strategize Your Payment Method

Pay off your credit card debt quickly by targeting the highest interest rate debt first while paying the minimums on other accounts. Once you finish this payment, target the next highest interest rate while paying minimums on the others.