Budget Archives - Making Sense Of Cents

Here Are 50+ Of The Best Ways to Save Money In 2020

January 20, 2020 BY Michelle Schroeder-Gardner - 3 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

How much money do you save each month? Would you like to learn about the best ways to save money in 2020?

If you're looking for some of the best ways to save money in the new year, then this post is exactly what you need to start saving even more money. There are tons of ways to save money, and you are going to learn about over 50 different ideas.

Teaching people about the best ways to save money is one of my most favorite things to talk about because I have firsthand experience with how it can help you reach your goals.

When I was working towards paying off my student loan debt, I used many of these tips. And, that’s what helped me pay off nearly $40,000 in student loans before I was 25.

There are lots of reasons for why you might be looking for the best ways to save money. You may want to:

Stop living paycheck to paycheck
Pay off your debt
Go down to one income
Save for a vacation
Put more in your emergency fund
Start investing more

Or, maybe it’s as simple as wanting to stretch your income so you have a little more flexibility in your budget. [Read more…]

How I Saved $149,000 for Retirement by 30

January 17, 2020 BY Michelle Schroeder-Gardner - 9 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Hello! Here is a guest post from a reader of mine, Alberto. Alberto is sharing his story on how he saved $149,000 for retirement by the age of 30. Enjoy!

Sometimes I can’t believe I actually saved that much for retirement before I even hit my 30s. It’s surreal to me thinking how far I’ve come in building my net worth.

What’s even crazier is I didn’t even have a full time salaried job until two and half years after I graduated!

Even when I did get a job, I didn’t know the first thing about 401k plans nor did I even give retirement a second thought. I was just relieved to have a job!

It’s hard to imagine without any context going from a measly $9,215 in Roth IRA savings from my parents making me save a few bucks over the years from birthday or Christmas money, to at 30 having a total of $149,000 in a span of 7 years.

But trust me, if I can do it, so can you.

Related content:

[Read more…]

How Do Credit Cards Work? I Answer The Most Important Questions

January 15, 2020 BY Michelle Schroeder-Gardner - Leave a Comment

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

How do credit cards work? Surprisingly, there are many people who don’t understand how credit cards work and how to use them responsibly.

I have heard so many false things and myths about credit cards even though they have been around for decades.

So today, I want to clear everything up for anyone who has ever asked the question, “how do credit cards work?”

When you know how they work and use them responsibly, there are some great benefits of having credit cards — a higher credit score, cash back, airline miles, rewards, etc.

Those benefits are why I love using credit cards, but I understand that they aren’t for everyone.

A family member of mine once struggled with credit cards, and they found that using a cash only budget was the best way to stay out of credit card debt. Fortunately for them, they were able to recognize their credit card mistakes and found a way to make sure they weren't adding any debt. Part of that was being proactive and noticing that they had an issue early on.

However, others are not as lucky.

I’ve heard many stories about people who continue struggling with credit cards and keep adding to their debt. And I’m always shocked when I find out it’s simply because they don’t understand how credit cards work. [Read more…]

80+ Ways To Earn Extra Money In 2020!

January 13, 2020 BY Michelle Schroeder-Gardner - 5 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Would you like to learn how to earn extra money in 2020?

Learning how to earn extra income on the side of my day job helped me pay off $38,000 in student loans in 7 months. It’s how I eventually turned my side hustle (blogging) into a full-time job, and it’s how I now travel full-time pursuing my passions.

It’s safe to say that learning how to earn extra money has completely changed my life for the better.

I talk a lot about finding new ways to make extra money on the side because it’s something that I truly believe in.

And, with so many ways to make more money, there is something for everyone.

So, whether you want to pay off your debt, stop living paycheck to paycheck, start investing more, save for emergencies, etc., there are dozens of ways that you can make your goals happen even faster. [Read more…]

19 Ways To Make Life Easier This Year

January 3, 2020 BY Michelle Schroeder-Gardner - 19 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Looking for ways to make life easier?

Trying to manage your life, especially your financial life, can be challenging. In addition to your bills and raising a family, you may also be planning for retirement, emergencies, and more.

Keeping up with all of those financial obligations can be very draining.

On top of financial stress, many of us live with a lot of disorder and chaos. These are things like filling our houses with things lots of things we don’t need or use, having spending problems, living with debt, being unsatisfied with your job, etc.

There is also a lot of emotional stress that can come when you live with so much mental chaos and clutter. You might feel depressed, anxious, have low self-esteem, etc. And, it can be very easy to start to compare your life to others — thinking that they have it so easy and are so much happier. [Read more…]

Why Investing for Retirement is So Important for Women (and How To Do It)

December 30, 2019 BY Michelle Schroeder-Gardner - 2 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Hey everyone! Michelle speaking for a moment. Today, I'd like to introduce you to my friend Amanda Holden. She runs one of my favorite financial blogs – Dumpster Dog. Below is a guest post from her on why investing for retirement is important for women – and how you can start. Enjoy!

Play along with me for a moment: Imagine a deliciously styled woman in her 70s.

She is having a sip of her morning espresso at a sidewalk café in Paris. She’s perusing a big, beautiful novel alongside her (much younger) Parisian lover, who is bringing her a third croissant for before 10 am (because why not).

This woman is you.

Or at least, this woman could be you.

Whether or not your retirement dream includes croissants and a Parisian lover, you’re going to need to save and invest to make it happen.

We’re so accustomed to thinking about retirement in terms of an age—age 65—when in reality, retirement is an amount of money saved.

Because young people will not have access to the pension plans of our parents and grandparents, retirement is entirely our responsibility. [Read more…]

89 Life and Money Management Tips To Change Your Future

December 27, 2019 BY Michelle Schroeder-Gardner - 3 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Well, we're looking at a new year already. Can you believe it?

As the year comes to a close, it's a great time to round-up all of my blog posts on Making Sense of Cents from the past year in one easy spot so that you can check them all out.

I have divided all of my blog posts into the following categories:

My most favorite
Money saving tips
Debt tips
Money management tips
Make money blogging
Make extra money
Income reports
Life, motivation, and inspiration
Travel

Also, I have a private community group for readers of Making Sense of Cents. If you want to improve your life and your financial situation, join here and let's all help one another out!

My private group has already reached over 15,000 members and continues to grow. We can’t wait to hear from you!

You can join the private support group here.

Enjoy these money management tips!

My most favorite

In case you just want to see my absolute favorite Making Sense of Cents articles from 2019, I have included those ones first:

Money saving personal finance tips

Pay off debt tips

Related personal finance tip: With Credit Sesame you can get your credit score for free, with no catch. It doesn’t hurt to check, so you have no reason not to know your credit score. Your credit score can affect whether or not you are approved for a loan, whether you are hired at certain jobs, your interest rate, and more. It’s relatively easy to raise your credit score, so you should start doing so today! Read How Your Credit Score Affects Your Life + Credit Sesame Review.

Money management tips

Related personal finance tip: Personal Capital is a great resource that I highly recommend. You can track your net worth, your cash flow, your portfolio, your investments, and more. Read Personal Capital Review – Manage Your Money For Free.

Making money blogging

How To Start A Blog FREE Course: With this free email course, I show you exactly how to create a blog, from the technical side (it’s easy – trust me!) all the way to earning your first income and attracting followers. Each day, for seven days, you will receive an email in your inbox that will help you create a successful and profitable blog, all from the very beginning. You can sign up here.

Make extra money

Life, motivation, and inspiration

Travel

Related tip: My preferred way to travel (other than by boat or RV) is to stay in short-term rental vacation homes such as Airbnb (this will give you a $55 Airbnb coupon code for your next stay). Airbnb vacation home rates are usually comparable or cheaper than a hotel, plus you usually have more room and there is often a kitchen as well. Also, if you have a lot of people going on vacation with you, you can split a house for much less than it would be for everyone to get a hotel room. Read my Airbnb review The Many Positives Of Using Airbnb Plus a Coupon Code For Your Next Vacation!

One last thing. My sister runs a great blog called FITnancials. Here are some of my favorite blog posts of hers:

What is the best personal finance tip you learned in 2019?

My most favorite

Money saving personal finance tips

Pay off debt tips

Money management tips

Making money blogging

Make extra money

Life, motivation, and inspiration

Travel

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