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26 Mar 2019   /   0 comments

15 Ways to Stretch Your Paycheck


Here are some of the best ways to stretch your paycheck and stop having financial anxiety.

  1. Budget closely and carefully

The best way you can stretch your paycheck is to budget very carefully for each and every month then follow through on that budget. This is a very common budget break down that average Americans use:

  • Housing – 35%pexels-photo-164527
  • Food – 15%
  • Transportation – 12%
  • Debt – 8%
  • Retirement – 7%
  • Health Care – 5%
  • Communication – 5%
  • Savings – 5%
  • Entertainment – 5%
  • Clothes – 3%

You can feel free to adjust this as need be, according to your unique financial situation.

  1. Save on electricity with just a one or two-degree difference.

By just turning your heat down one or two degrees or your air conditioning down one or two degrees, you can save between 3% and 6% on your utility bill. That may not seem like much but it really does add up over time, saving you tons of money.

  1. Save on unnecessary subscriptions.

Get rid of your landline as mobile phones are far more common now and you likely don’t even use it. Don’t sign up for an unlimited data plan on your phone and connect to wi-fi instead as that can save you tons of money every month. Wi-fi can be found nearly everywhere nowadays so why waste the money. And, finally, cut your cable or satellite bill and rely on streaming services like Netflix instead!

  1. Clip coupons

Find deals anyway you can but remember to only use coupons on things that you actually buy instead of spending more money on things you don’t need or usually buy.

  1. Brew your own coffee

We promise you that brewing your own cup of joe every morning will save you loads of money as it is a fraction of the price of your typical morning Starbucks.

  1. Track your spending with a smart phone app like Mint.

Use these great new technologies to know exactly where your money is going so you can cut expenses when you need to.

  1. Make some extra money on the side.

Sell some of your belongings online or have a garage sale. Start driving for Uber or Lyft on the weekend. Deliver pizzas on the weeknights and make a whole bunch of tips.

  1. Adjust your withholdings by filling out a new W-4.

You can simply make your paychecks larger by filling out a new W-4 since most employees actually have more taxes withheld than are necessary for income taxes.

  1. Stop buying bottled water.

Why waste money and plastic? Just use tap water instead and if you need filtered water, just get a re-usable filter like Brita. You will still be paying a fraction of the price.

  1. Buy less pre-prepared food.

Prepped food always costs almost twice as much as un-prepped food. So it is definitely necessary to stretch your culinary skills in order to stretch your paycheck.

  1. Always look for sale or deal items when shopping.

When you walk into any sort of retail store just head straight for the sale section. You can find great deals for items of just as high quality.

  1. Eat out less often.

Work on your culinary skills and cook dinner for yourself or your family more. You will not believe how big of a difference this makes in how long your paycheck will last.

  1. Use cash instead of debit or credit cards.

When you are using real money instead of little plastic cards, you are far less likely to spend as freely. When you use cash, you will think harder before making a purchase.

  1. Pay bills first.

Always try to pay your bills, especially the crucial ones, first so that you know exactly what you realistically have to spend for the rest of the month. That way you won’t come to the end of the month and realize that you don’t have enough to cover the necessary bills.

  1. Get a title loan.

Consider getting a title loan with TFC Title Loans in order to cover some expenses that your paycheck cannot stretch far enough to cover. We can get you up to $50,000 at competitive rates in as little as one business day.

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