Three Ways to Put $100 in Your Pocket Each Month

Always up for some extra cash?  Here are three sure fire ways to add an extra bill into your purse each month.

1.  Bring lunch to work. 

Oh no I didn't just pull out the ol' bring your lunch to work idea, did I?  Uh, yeah, you bet I did.  I go into our office EVERY day (not exaggerating at all) with my lunch from home.  I don't need to get too creative; usually a sandwich, a soup, sometimes fruit and such.  At the most, I spend approximately $12-$14 per week on lunches.  Compare that to people I see stopping at McDonald's or Starbucks in the morning, then spending $6-$7 per DAY on lunches and maybe a buck or two in the vending machines!  Let's just call their average $38 per week.

$38 * 52 weeks = $1976 per year
$1976 / 12 months = $164 per month

Compared to:

$14 * 52 weeks = $728 per year
$728 / 12 months = $60.67

Savings of $103.33 PER MONTH in YOUR pocket!!  You're on a roll!

2.  Pay for gas and groceries with a debit card and take out $5.00 - $10.00 extra dollars in cash.

Wait a minute, I'm supposed to be telling you how to put money in your pocket not take it out, right?  Well, here's the thing.  Let's say you're like the average American who fills up once per week and shops once per week.  That's two trips where you're pulling out a total of about $20 extra each time.  You then take that $20 and put it into a "secret stash" at home.  You don't really feel that extra $10 coming out each time and at the end of the month you have extra cash you would have invariably spent on foolishness (like lunches, maybe?).

$20 * 52 weeks = $1040
$1040 / 12 months = $86.67

There's an extra $86.67 you would have normally seen do a magical disappearing act come back into your life!  You rock! (P.S.  each month deposit that cash into a savings or money market account to keep you away from the temptation to spend it!)

3.  Claim more on your taxes

Now before you rush out to your HR department, please consult a tax advisor or the irs.gov website. 

This seems crazy to me:  People get all fired up about getting a tax "REFUND" each year.  Some people I meet with actually think that the government is giving them free money.  There is a reason it is called a REFUND.  It is simply because you OVERPAID the government taxes and they are required to return to you what you overpaid.

Guess what is happening during the entire year as you keep giving away your extra money to the government?  They are earning INTEREST on your money.  By claiming more you will actually be able to get more of that money on a monthly basis and therefore earn interest on YOUR OWN MONEY!  Instead of giving the government a LOAN and not requiring them to pay you interest when they give it back to you each year!

Some people tell me that they like getting a refund because it's almost like a forced savings account.  Well, if you don't like "thinking" too much then just set up an automatic withdrawal straight from your checking account for the extra you would normally have needlessly given to taxes into a mutual fund.  Some banks are even able to coordinate your direct deposit to withdraw and distribute funds before you even see it in your account.  Therefore you wouldn't have to "think" about putting your money away and you'd be instantly earning interest on your own cash to boot.

Plus, at the end of each year, you're paying off a ton of bills with the refund money.  Bills that you likely wouldn't have accrued had you had enough money to pay for it up front (Saving you interest dollars also!).  Lots of people use that money to go shopping or take a trip.  You'd be more careful about mindlessly blowing your money if you understood how hard you've worked for it rather than thinking it's a free check from some random source.

Savings:  AT LEAST $100 per month.

Do all three and then voila....$300 or more EXTRA in your budget each month.  Money is simple, just learn the rules.  Whether you are playing on the right side or not, the game continues to go on!