I’m sure anyone who happens to stop by to read this has probably heard about saving your change and cashing it in for a rainy day. My change fund really came in handy this week. I do have funds for vacation automatically deducted each month and placed into a specific account, but between Katsu, my sister’s wedding, and our family trip to central PA (my favorite!), it’s been running a little lean.
I wasn’t about to dip into my emergency funds (especially when it is so close to hitting the 6 months of living expenses part!), so we’ve decided to cash in the change. I only recommend utilizing your change fund in 6 month-1 year intervals. This really gives it time to build up into a significant amount, we even have enough left over to put back into the emergency savings account. Finding passive ways of saving a little here and little there can really add up in the end.
Of course, building passive income to funnel into savings is also helpful. I’ve built up a tiny income stream over at Helium. 10 cents here and 5 cents there each day from well-rated articles may not seem like much, but it builds up quickly. I try to write at least 3 articles a week, and I’ve built up about 20$ a month in passive income (passive because if I stopped writing them right now, that’s what I would earn, on average). I’m always interested to hear what people do to save or make extra money on the side, feel free to let me know!
-Xias