Something You Should Know:Easy Ways To Find Extra Cash

Easy Ways To Find Extra Cash
Interview with Danny Kofke, author of How to Survive (and Perhaps Thrive) on a Teacher's Salary

Mike Carruthers:
Money may be tight in your household but there are some things that you may do to free up some extra cash without much effort.
Danny Kofke:
It's not the major things that I think that are killing people, it's those little ten, twenty, thirty, forty-dollar purchases that over time when a month, two months go by you realize, "Wow, I've spent five hundred dollars on this."

Danny Kofke, author of the book How To Survive (and Perhaps Thrive) on a Teacher's Salary…

You eat out at lunch every day and spend ten dollars a day - that's three hundred dollars a month. Three hundred dollars a month is a lot of money and it adds up over time. If you go out once a week, go to a movie and eat dinner you're going to drop fifty, sixty bucks easy. Over a month you do it every single weekend, there's two hundred dollars - right there.

Buying things with cash instead of a credit card can make a big difference.

First off it keeps you out of a lot of trouble because the spontaneous purchasing with credit cards is so easy to do - very easy to swipe a piece of plastic. But if you bring out that green stuff it's hard to spend it and you might think twice about this purchase and that might be a good thing. Instead of buying it right now you go home you think about it twenty-four hours, forty-eight hours - if you still want it, OK then you go back and get it.

Danny practices what he preaches and says he does not live a life of deprivation without fun and an occasional dinner out.

We still do those things, we just don't do them all of the time and for us then it's more of a treat whereas I think some people are so used to eating out all of the time that when you do do it, you almost take it for granted.
At somethingyoushouldknow.net I'm Mike Carruthers and that's Something You Should Know.