How to Give Yourself a Raise

I know this may sound a bit deceiving and illegal but trust me it’s not. Having more take home pay is not always possible but having more money after all the bills are paid is the same as giving yourself a raise.

Now before you go and assume that what I am about to tell you is ways to cut back on services or pleasures, actually quite the opposite is true, and easily accomplished if you know how, or what to do, that makes sense and benefits your life to do these things.

If you are like we were, depending on whether you are the designated bill payer or if someone else in your household does the bill writing, it doesn’t take long to see just how far your hard earned money doesn’t go after the bills are paid.

Paying monthly bills is a part of our lives, even though we despise having to do it. Bills and taxes are here to stay and they aren’t going away.

Actually, it is really far more simple than you might think, and the sweet part is, you will not be giving up any amenities from your services and you can immediately see the extra money staying in your pocket.

In essence, you are giving yourself a raise Without Telling Your Boss! Sweeeet!

More money doesn’t happen every day and when you see how to “Make it Rain!” the feeling is very satisfying and rewarding, just knowing you made it happen for yourself.

Okay, so let’s get into the different ways to pay less without giving up anything in the process.

· If you have more than one TV on cable, chances are it has its own cable box attached to it. If so, you are paying needlessly for multiple cable boxes. It is only necessary to have one main cable box and the other TV’s can use a Roku or Amazon Fire Stick to gain the wifi connection to use, as the cable box substitute. Then return the extra cable boxes to their respective store and you just save on average (most households have 4 TV’s) about $30 a month X 12 months, that equals $360 a year watching the same TV channels you were before the changes.

· While we are on the electronic side of things, you can do the same thing with your internet router. Stop renting it by buying your own at Walmart or Best Buys and swap them out, return the rented router and Bam! More Money Saved! Another $10 a month or $120 a year!

· Now, let’s speak to homeowners. If you own your home, chances are you are currently paying a mortgage that has an interest rate that is 3.75% or higher, right? With the economy in the stage it is right now, mortgage rates have dropped significantly and this affords you the opportunity to refinance your existing mortgage and save BIG TIME! On your monthly payments.

(To let you in on a little known secret, a credit union can offer you some really good deals on mortgage rates, even if you aren’t a member, during the loan shopping just ask them what they can offer you in a LOW Mortgage Interest Rate. If you choose their offer, you can then join their credit union for a small nominal fee, usually less than $50 a year and then you are a Member! Problem Solved!)

Take that savings and add making bi-weekly mortgage payments at no additional cost to you and your 30 year mortgage will automatically pay off in 24 years. With some of your total savings make one extra house payment a year and you’ve turned a 30 year mortgage into a 15 year payoff with very little effort and it is all at your choice whenever you choose to make that extra payment.

Depending on your homeowner’s insurance policy deductible, there is another hidden gem of a savings place. Let’s say you have a $500 deductible. What would you do if you had say a $1,000 thousand dollar structural problem, like a tree fell on your house.

Would you use the $500 deductible or just pay out of pocket the full amount to avoid a higher premium on next year’s insurance renewal rate?

Yep, most would just fork out the full cash amount to avoid an increased insurance premium. Then, why not raise your deductible and actually save some money?

Same goes for your car insurance. Think of the savings as a way to put money into savings and let the cash grow there for a rainy day fund that you control. And it can double as a vacation fund. Hmmm

Just thinking smarter and not harder can actually put money back in your pocket and see your life become less stressful with real cash money in the bank from the savings you can accomplish by a few simple changes to your finances.

About the Author: Trying to offer realistic solutions to your money woes is the intent here and not just hypothetically, but from firsthand experiences. The above suggestions, our family has applied and saved over $4,000 in yearly expenses and that equates to a monthly savings of approximately $335 per month, which is the equivalent to a free car payment or an electric bill.

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