If you really want to make a dent in your debt, check out Wall Street Journal reporter Brett Arends’ in-depth look at major cost-cutting moves you can make this year. Total savings: $15,000+. Some of these are no-brainers, like saving water at home, dumping your TV and the costly cable subscription that comes along with it ($600) and using loyalty cards and discount programs to score great rates on car rentals and air travel.
But there were a couple ideas that stood out.
Sometimes it takes a lifestyle makeover to really make a difference in your finances.
“Everyone wants to magically earn more money by working less, but it doesn’t work that way,” Clear writes. “You need to be willing to try new things. You don’t necessarily need to be creative. You just need to be willing to try to earn money in a different way than you currently are doing.”
If working longer hours or taking up a freelance job isn’t possible, try some of Clear’s other tips. He suggests flipping items around your house on Craig’s List for extra pocket money and renting out your room on Airbnb.
Stein was among thousands of consumers who made the switch on National Bank Transfer Day in October, saying she was fed up with Bank of America’s monthly $14 charges.
See Arends’ full post here.