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Updated about 6 years ago on . Most recent reply

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Joe M.
  • Erie, PA
348
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413
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How do you earn/save extra money thread?

Joe M.
  • Erie, PA
Posted

Thought it would be a cool idea to share how you earn or save extra money, no matter how large or small....to help make our pockets bigger. I think finances is an area one can always improve on....might as well learn from each other. 


I called xm radio and got my bill reduced about 8 dollars a month.

Also started using chase credit card. 1.5% cash back and bonuses on purchases I already make, I'll have about an extra 700 a year.

What are some hacks or extra income streams you have, real estate or otherwise?

Most Popular Reply

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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
16,111
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Steve Vaughan#1 Personal Finance Contributor
  • Rental Property Investor
  • East Wenatchee, WA
Replied

My goal is to save $60k /yr. Rather save 60 than make 90. The net is the same after taxes.

I focus on big stuff. Saved $47k buying the LLC vs the commercial building, self-close buys, sell my houses by owner, draft my own finance docs, do my own taxes, swap my own water heaters, etc.

Of course I brown bag my lunch, have OTA antenna tv only and borrow seasons of shows and movies from the library. Also get audio books there.

Bought my last sports car way below value with the commission savings of my FSBOs last year. Could drive it a couple years and sell for what I paid. Invested the difference in stocks at key support levels, now can buy something else. Multiply your $. 

I buy stuff like counter and cabinet resurface kits & ceilings fans on clearance at 70-90% off, then do the project. Bought $20k worth of windows for $1500 at the dump.  Never spent more than $9-$10 on a $40+ gallon of mistint paint. Will buy $170 5gal buckets for $35, then mix my own and have a house painted or save a trip to the store picking and matching.  That kind of stuff, while I'm there anyway.

I won't drive across town to save $.03 on gas or cancel my newspaper or gym membership, but will save on the fatties.  Good discussion!

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