Nov 12, 2008 8:53 pm US/Central
Stretch Your Dollar: Find An Extra $500 Per Month
CHICAGO (CBS) ―
-
-
Financial experts at Kiplinger's magazine tell us how to save an extra $500 a month by making a few simple changes.
CBS
How would you like to find another $400 or $500 a month? It may be easier than you think. We got some tips on how to stretch your dollar from experts at Kiplinger's magazine.
CBS 2's Rob Johnson reports that like most of us, Jamie Podworski wants to put more cash in his pocket.
"We're looking for ways to cut back," Podworski said.
Financial experts at Kiplinger's magazine say the biggest reward may be hidden in your taxes.
"Go to your HR department at work. You can re-file your W4 form and have less money withheld from your paycheck," said Deputy Editor Janet Bodnar.
Typically, it could mean an extra $200 a month in your paycheck.
Kiplinger's also recommends eliminating extra trips to the supermarket. You might save $30 or $40 a week in impulse purchases.
Say goodbye to fast food for awhile by packing your own lunch and making your own coffee. Kiplinger's estimates you'll save another $100 a month. At home, lower your thermostat by two degrees and you'll cut 10 percent from heating bills.
"When you add it up, day after day, week after week, it makes a big difference," Bodnar said.
Another idea for saving: Shop around for cheaper car insurance and lower your premiums on home owner's insurance by taking on higher deductibles. It can all add up to another $500 in your pocket.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
Celebrity Watcher: Real Or Fake?
Click to enlarge
Stumble It!
Reporting
