35 proven ways to put off a “rainy day”

Life is full of unexpected surprises, which sometimes come cheap. If you suddenly lose your job, you have to do urgent repairs or pay a bill for medical services, you must have cash to cover costs.

Photo: Depositphoto

Money set aside “for a rainy day” guarantees you peace of mind: you don’t need to take out a loan if your water heater burns out or your car breaks down. Experts say you should keep enough in the bank to last you for 3-6 months if times get tough.

If you haven't started saving for a rainy day yet, start now and use these 35 tips to top it up.

1. Take advantage of loyalty programs

Many retailers offer rewards. If you are not registered, now is a great time to do it.

Josh Elledge, executive director at SavingsAngel.com, recommends ShopYourWay.com, which has many business partners.

2. Unsubscribe from cable TV

Most likely, you do not watch most of the channels that you put on a subscription. Save by discarding them.

“By switching from online streaming services, you can save about $10 a month,” said Jake Norton, co-founder and financial planning expert at Stewardship.

3. Take a side job

If you really want to save for a rainy day, use some of your free time to earn extra money. ForumDaily писал about ways to work.

4. Do not keep money in the wallet

It is always good to have some extra dollars in your wallet. But direct access to money is fraught with the fact that you can spend it, if you, for example, do not have enough for a new expensive bag or for something else. Keep your money away from your eyes.

5. Have a garage sale

Replenish your budget by selling everything you no longer need. House cleaning is a great way to make extra money.

“Make a habit of going through your stuff regularly and selling anything you don't need on eBay or Craigslist, or having a yard sale or garage sale,” Gallegos said. vice-President of Phoenix. - Do this every 3 or 6 months. Even small funds can add up surprisingly quickly.”

6. Replace credit cards with cash.

It's very easy to miscalculate if you're paying with a credit card. By ditching your credit card, you can increase your savings for a rainy day.

"Using a credit card is easy and convenient, but paying with cash (or a debit card) allows you to stay within your budget," says Gallegos. “Many studies show that people spend 15% to 20% less when paying with cash.”

7. Shop with a list

“Make a list before you go shopping,” advises Gallegos. -You are more likely to make impulse purchases if you go to a store without a list. Plus, when you make a list, you can look at what you have in your pantry, refrigerator, or closet so you don't end up buying unnecessary items."

8. Plan your menu according to sales

“Try planning your menu based on what's on sale and see how much you can save,” Gallegos says. - Check the weekly sales announcements and base your menu planning on that. You can also buy perishable items at a discount, such as meat.”

9. Use savings card

It's great to look at your receipt and know you saved money at the grocery store. “If you have a grocery savings card, you'll see how much you save on your check,” Gallegos continues. “Add up these amounts from each store visit and put them into your savings.”

10. Use credit card rewards

If you, like many people, received credit card rewards, do not waste them thoughtlessly. Include them in your emergency plan.

"Check your credit cards to see how many points you have," Gallegos says. - Next, visit the rewards website to see if you can convert rewards into cash or gift cards. Some credit cards will even double the value of your rewards at certain retailers.”

11. Save on monthly bills

"Everyone is overpaying on their monthly bills," says Barry Gross, founder and president of BillCutterz.com.

Gross said his team can help people save up to $ 1500 a year or more on their monthly bills, including cable and satellite television, telephone and the Internet.

Decide for yourself whether it is worth hiring professionals to reduce your bills and save for a rainy day or not.

12. Invest in your emergency account

Saving money for a rainy day is easier when money is automatically deducted from your account.

“You can automatically set up a debit from your checking account on your desired date of the month, and it will automatically transfer money into the account you use for a rainy day.” Install this feature and forget about the account until you need it,” advises Abby Eisencraft, CEO and Senior Tax Advisor at Choice Tax Solutions, Inc.

13. Treat your savings as a mandatory payment.

It's much easier to part with the money you put aside for a rainy day if you treat it as another mandatory monthly procedure. “You pay your rent, you pay your cell phone,” Eisencraft says. “Make topping up your emergency fund another mandatory payment.”

14. Reduce your holiday expenses

Buying holiday gifts for each of your family and friends can be expensive and tiring. Instead, try to buy one family gift and warn everyone in advance. In this case, you will have money to replenish your savings. In addition, many will be grateful to you that you have freed them from such waste.

15. Refuse to buy morning latte

“An easy way to save money is to avoid buying a $5 morning latte every day,” says Deborah Sweeney, CEO of MyCorporation.com. — By doing this 5 times a week, you save $25, and the amount per month will be $100. By the end of the year you will have saved about $1200.”

Of course, no one makes you forget about coffee at all, just make a cup of coffee at home.

Photo: depositphotos

16. Do not carry big money in your pocket

If you are prone to spending cash in your pocket, Gene Caballero, co-founder of GreenPal, has a solution that will benefit your savings.

“ATMs typically dispense $20 bills,” Caballero says. — I usually ask to change this money for $1 or $5 at a car wash or somewhere else. At the end of the day, with small change in my pocket, I always put it aside for a rainy day.

17. Trim your mobile tariff plan

“Do you really need unlimited calling on your phone? Most people answer no, says Stephanie Genkin, certified financial planner and founder of My Financial Planner, LLC. “So, switch to a cheaper plan and put the difference aside each month in an emergency fund.”

18. Stop early paying your student loan.

“Of course you want to get out of college debt, but some interest rates are very low,” Genkin said. – Pay the required monthly amounts on time and not a penny more. Put the rest of the money into your savings account.”

After accumulating reliable savings, you can return to repaying your federal student loan.

19. Hand over free residential space on Airbnb

If you have an extra room in your home, you can make rainy day money by listing a bunk or an entire room on Airbnb. The money you can make depends on your location and the type of space you offer.

For example, according to Airbnb, a resident of Los Angeles can earn an average of $ 350 per week, settling someone in his house.

20. Check your automatic credit card charges

“Check your automatic credit card deductions,” says Annalee Leonard, founder and president of Mainstay Financial Group. “Obviously, organizations have a vested interest in persuading the consumer to agree to the automatic conclusion. I don't mind when it's an essential service, like my car insurance, but when it's an online newspaper subscription or children's games, or Netflix or an Amazon Prime membership, make sure it's important to you or cancel the subscription."

21. Grow yourself

The grocery store is important. But shopping is expensive. Luckily, there are options to reduce your financial burden by growing herbs or some vegetables at home. USDA statistics confirm that you can save up to $1000 per month.

22. Stop your gym membership

Going from a treadmill to jogging in the park will help you save and replenish your savings account without compromising your health.

“You can be fit and healthy, but not spend a dime on it,” Leonard is convinced. — Stop your gym membership and create an at-home workout routine. Not only will you save that money, you will also save on gas.”

23. Postpone your bonus

Put the premium on your savings account, which will increase its balance in a short time, and the main costs will be covered by salaries.

24. Get interest from savings account

Open an account for a rainy day reserve and enjoy double the benefits - safe storage space and the opportunity to earn money. To do this, look for the best offers from banks. Also check whether you will have instant access to money if you urgently need it.

25. Transfer meetings with friends at home

Obviously, saving for emergencies is much easier when you are not going to the bar with friends every night. However, reducing these costs can seriously hinder your social life. Transfer your meetings from bars and restaurants home.

26. Meet at Happy Hour Specials

If you have to meet with friends, schedule an appointment for Happy Hour Specials. Usually such watches are made between 16-00 and 19-00. At this time, big discounts on food and beverages. Calculate the amount you saved and put it into a savings account.

27. Stop Paying Overdraft Fees

In 2015, JPMorgan Chase, Bank of America and Wells Fargo received more than $ 6 billion in overdraft fees, according to a report from SNL Financial and CNN Money. Tariffs depend on the bank, but, regardless of the amount, spending money that you literally did not earn, in any case is not good.

28. Save on shipping

If we choose same day delivery, this is reflected in the price. If you really need this or that item, place your order in advance and take advantage of the discount on delivery from 5 to 10 days after ordering. Set aside the money you save for a rainy day.

30. Do not use paper products of famous brands.

You use paper towels, napkins and plates only once. Spending more just for the promoted brand is simply unprofitable. Buy an unadvertised brand, and deposit the difference in a savings account.

31. Earn on the return

Currently, many companies are returning a certain percentage of purchases back. Do not forget to read the fine print and make sure that the account does not require a monthly subscription fee or a monthly minimum.

After the checks, all you have to do is check your report at the end of the month to find out how much you earned and set aside that amount for a rainy day.

32. Stop going to the movies

“I understand that going to the cinema is an interesting way to spend an evening, but it is certainly an expensive pleasure,” says Kofke, an expert in the field of personal finance. “If you go to the movies twice a month, you’re spending a lot of money in exchange for a few hours of fun.”

The average cost of a movie ticket is $8,61, according to Box Office Mojo, while the cost of renting a movie on Redbox is just $1,50. After all, you probably won't remember where you saw the movie, and the difference can be saved for a rainy day.

33. Get new quotes for your home and auto insurance

If you've been on the same insurance plan for 3 years or more, contact your insurer for better prices—as a repeat customer—or consider other options from their competitors.

34. Forget about dry cleaning

“I can honestly say that I have never used a dry cleaner,” Kofke said. “Ironing a shirt will take some time, but it will really save you a lot of money.”

Save money on dry cleaning, buying those things that can be washed in a washing machine or manually.

35. Do not pay full price for local events.

“Sporting events can be expensive,” Kofke says. “I don’t go to games often, but if I’m going there with my mom, I use the ScoreBig.com website and save on the cost of our tickets.” They offer up to 60% savings on select tickets.”

This method can also be used when purchasing tickets to events, such as concerts and theatrical performances. Just do not forget to compare prices in stores before you pay a face value.

All the money you save should be put into a savings account.

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