Four Simple Steps to Saving $1000 When You Have Low Income

How can you save $1,000 while living paycheck to paycheck? I know that on the topic of saving money in general, some people don’t make enough money to save money and they’re barely living, so they have to live paycheck to paycheck. This is for those people and if you’re not one of those people, this article isn’t necessarily for you but you can keep reading for entertainment value. I’m not a financial adviser but I have some very helpful tips. Let’s get into those three simple tips that I do to make extra cash.

These tips won’t be for everyone. In some cases, you might have to get willing to get a little dirty. Others, you will need the ambition to get out and contact people, and the social skills to barter with people. They can be a little time intensive. Following are things I do to make extra cash.

Diversify Your Money

Step one is diversify your money. This it is very important to segregate your money. You have to segregate your money because if you do not, you will not be successful in saving. If you look at some of the most successful people in the world, the top 1%, they’re to be studied with an open mind. I know that some people who aren’t financially secure, they look at the 1% and they say, “Look at this guy, he’s got all this money and doesn’t care about people”. Money is really just a tool. Its value is what’s inside of you. Most of it is how you value the world. How you look at yourself, how you look at your family.

Everyone Has the Same Time

The one thing that rich and poor people have in common is they have the same amount of time within a day. Time is not prejudice, time does not discriminate against anybody. it gives everyone the same amount of precepts. Time is the same for everyone, whether you’re wealthy or poor, you still get 24 hours a day regardless of who you are or how much money you’re starting with.

Treasure Hunting (eBay)

If you’re living paycheck to paycheck and you need to save up a thousand dollars, you want to create some income. You want to diversify your efforts. How should you diversify your income? The first step to diversifying your income is through a method I call treasure hunting. Let’s call it scavenging. People have a lot of names for it, but I call it treasure hunting because I like having fun like that. I sell a lot of products on eBay. This is a little time intensive. You have to go to garage sales. You need to know what will sell and what won’t. To learn that, you investigate the different markets on eBay and see what sells and what does not sell. Things that sell in high volume, that is what you want to be looking for. Buying low and selling higher on eBay is a great way to make extra money. You can do this even if you have a job — this is what you do with your spare time instead of watching TV.

Free Things On Craigslist

Lots of people have extra money to spare. They upgrade their furniture or TV or they want to clear out raw materials that are sitting in their yard — good materials left over from a building project, it is worth money but they don’t want to bother with it. They put it up in Craigslist for free. If you have a truck and can haul things, you can make extra money. If someone is getting rid of their car that doesn’t run, or a big refrigerator, or rebar left over from a building project that they have extra materials remaining — that is worth a lot of money in scrap metal prices. If you and a friend with some muscles can load that up and bring it to a junk yard, they will pay good money for that metal.

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You might find other things on Craigslist that would sell well on eBay. Many people could easily sell things themselves, but they don’t want to bother with it. They just want to get rid of it, to clear room in their closets or free up extra space in their garage. Craigslist is an excellent place to make money this way, a very steady source of income if you work hard at it in your evenings and on weekends.

Scavenge for Metal Along River Beds

A bridge went up near my home. As they constructed it they used rebar, and fitted rebar to the size they needed to make the bridge. When a piece of rebar is too long, they cut the ends off, and in the case of this bridge near my home, all that spare rebar just ended up tossed into the river. Cast iron scrap is $3.50 per pound. One afternoon when the river was very low, I salvaged over 40 pounds of scrap rebar metal that was thrown in the river, with metal detectors and magnets. That was worth $140 when I brought it to the scrap yard.

Now, if you’re making lots of extra money and already have money, you may not want to spend the afternoon wading through mud, fishing out rebar with magnets, getting filthy and having to wash it all. That’s something I don’t mind doing.

Nate O’Brien is helping you grow your money so that you can live a financially successful life!

– Investing – Entrepreneurship – Personal Finance

Be the wolf, not the sheep.