MI$C

Here you’ll find miscellaneous methods for making more money.

Traveling for Free is great, but even ‘Free Travel‘ comes with some unavoidable costs.  Here are some tricks for making a little extra cash on the side, or methods for saving money (which has the same net effect).

They vary in ease and time required, and some may lie within moral grey areas.  These opportunities are geared towards people who have a little bit of down time they want to utilize making more cash on the side.  I didn’t invent any of these concepts, I’m just putting them all in one place for your convenience.

Easy Savings Anyone Can Use

One of the easiest methods of cutting financial waste out of your life is simply minimizing the amount of money you spend on stuff you rarely use.  Things like Internet, Cable, Insurance, Cell Phone bills etc are traditionally a sunk cost, since you can’t imagine life without them… However, you can trim hundreds off your monthly expenses simply by ‘asking.’

 

Auto and Home Insurance:

Many people fall into the rut of just paying their usual insurance bill every year without shopping for a better offer.  With sites like Progressive.com and other ‘Insurance Comparison’ sites, you can easily do an ‘Apples to Apples’ comparison and trim

Most Insurance companies will also give you a better rate for having more than one policy (Home plus Auto, Bike plus Auto etc), having more family members on one plan, and for paying your bill in full every six months instead of monthly.  That’s another great way to meet Minimum Spend Requirements.

Utilities

On the Apples to Apples note, Cleveland and many other cities have a ‘Rate Comparison’ tool that you can use for your Gas and Electric SUPPLIER costs too.  The Ohio Utilities websites make the process easy, but I’m guessing similar sites exist for other locales.  We lowered our gas rate significantly, and there are usually no long term contracts so you can switch if your variable rate goes up a lot.  This can net you a savings of $120-$360 annually if you save as little as $10-30 bucks a month.

Do you have a Garden? A)  You should have a garden, home grown food is amazing.  B)  If you have any plants, you can benefit from a simple Rain Barrel that will also cut down on your water bills.  A 50 barrel can be attached to your gutter, and routes water into your barrel for watering your garden and anything else.  As an added bonus they’re good for the environment and your city’s storm sewers.

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At the more frugal end of the spectrum, you may already recycle… But if you wanted to save all of your aluminum cans or glass bottles in a separated receptacle, you could bring those to the local scrap yard which might yield enough money to make it worth your while.  If you live in one of the ten states that pays deposits, the usual rate is 5 cents per can or bottle.

 

 

 

 

Financing

Any time you have to ‘Pay’ to Borrow money you’re pouring it down the drain.  There are some cases where this is unavoidable, but as with insurance, you can shop around for a better rate.  Student loans and Auto Loans can be consolidated.  You can put as much as possible down up front on a car or home to save yourself more money in the long run.  Already have a mortgage?

Refinancing even one percent can save you THOUSANDS of dollars.  People avoid doing this because they think a home mortgage ReFi is a huge hassle, and it can be – but in my experience of doing it twice, the payoff is well worth it.

If you are currently stuck in a 30 year mortgage, but think you can swing an additional $200 or so a month, Refinancing to a 15 year mortgage can save you TENS of THOUSANDS of dollars over the course of your 15 year loan.   As a quick reference, a $150K mortgage setup last year, refinanced to a 15-year would cost an additional $311 a month, but save you $66,000 over the course of the new loan.  A 20-year ReFi would only increase your monthly payment by $135 and save you $46,000.  Obviously your #s will vary, but you can easily see your Break Even Point with this or other ReFi Calculators.

 

Side Hustle$

Bank Account Sign up Bonuses:

Doctor of Credit manages a fantastic website that reviews all of the best current Sign Up Bonuses for various banks in your region or nationally.  So far in 2017, I’ve made over $1600 just by Signing up for Bank Accounts for my wife and myself.

Refer your spouse/friends to AirBnB, and you both get referral money.  If you want to thank me, use this link for $40 off your 1st stay!

Do you purchase things online?  Save 2-10% off by using ‘portals’ to buy items you already plan to purchase online.  Usually this is done through points or rebates, that add up over time.

 

Buy Gift Cards for Home Projects at grocery store that gives you ‘Fuel Perks’ or gas % back benefits… Example:

You have a $1,000 home improvement project.  Use the card in your arsenal that gives you 2%, 3%, or 5% cash back at grocery stores to purchase 10 $100 Home Depot or Lowes gift cards.  That Purchase will give you on average a 10 cent ‘discount’ on gas per $50 of GC purchase… Or $2.00 off a gallon of gas.  Use 2 5-gallon containers when you fill up your 20 gallon tank, and viola – you’ve just saved $60 on gas, plus $20 via credit card savings.  You could alternatively purchase HD gift cards on a site like Raise, GiftCardGranny, or OfferUp.

 

Credit Card Piggybacking:

Sell your good credit lines ($8K limit, good standing card, ideally 2+ years old) – to people who need them for a month or two to boost their credit.  This is a LEGAL practice, but frowned upon by the folks who like to be the Puppet Masters of your FICO Score and Credit Worthiness.  None the less, an average AU add can bring in $100 per name! In most cases you can add one new AU a month and remove the old one.  You can do this through a 3rd party or just add your less credit worth friends while they’re buying a home or financing a car… Add them the month before they go searching and remove after theyve made the large purchase.  The credit boost is often only 20-60 points, but for some people that can be a 2% difference in APR, which can amount to hundreds or thousands of dollars over time.

 

Cancel Audible.com (Audio Books) subscription or stop buying books and use the library instead.

 

Moral Grey Areas:

Exchange your Netflix Password with someone else’s Cable Login… and Cut Cable out of your bill to save about $1,000 a year.

Sell your plasma for $ instead of donating it for cookies.

Garbage Picking – You would be surprised how much stuff people throw away that can be resold easily on Craig’s List.

More Money Hacks will be added soon.  In the meantime check out Reddit.