Whether you want to become your own boss, start a side hustle, or earn extra money on the side, any of the strategies listed above can help. By finding ways to increase your income, you can free up more cash to pay down debt, save for the future, or invest for retirement. Saving money is only half of the equation. And if you truly want to get ahead, you might want to figure out how to make money – and hopefully, lots of it.
In the meantime, it also makes sense to save as much money as humanly possible – either through responsible spending, cancelling or reducing existing bills, or creating a budget and spending plan that helps you spend less than you earn.
- Related: How and Why to Use a Zero-Sum Budget
The saying, “a penny saved is a penny earned,” isn’t just a play on words; it’s absolutely true. While there may be an emotional or intellectual distinction, your pocketbook doesn’t know the difference. And at the end of the day, all dollars earned or saved spend the same way.
So, why not do both?
What is your favorite way to save money? Have you used any of the strategies mentioned in this post?
If you want to find more ways to save money every day, continue reading The Simple Dollar and check out this post: How to Save Money: 100 Great Tips to Get Started.
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