Using Small Income Sources To Fund Important Things

We often see small amount of money unimportant and we often use that money either buying dinner in weekends or shopping some new wardrobe.

And why not? It’s a little chunk of money what else you can use it? But I look every dollar I earn as precious as some thousand dollars people forget the fact that a large sum of money is nothing but a combination of these small dollars as a whole.

But even if you give respect to your money and you are kind of a guy that love saving money, many times some dollars slips out from right under your nose either in day to day expenses or other sort of household budget and you doesn’t much care about it as it’s a small sum of money, but I have seen several situations where small income helped to sort out big problems like emergency funds if someone got under accident, education fund for your son.

Thinking about saving will not going to save your money the right way to use this small source of income is to create a reason behind every save.

Giving your small income a reason

Many people are not ready for upcoming financial needs like at the end of the money you get your credit card statement with over budget bill or you got a renewal of you gas subscription.

But now you don’t have to panic if you do what I did when my son was at school i got a part time teaching job at that time I made up my mind that the money I earn even if any amount I will transfer it to my online saving account which I have opened specifically for my son’s education soon day after day passed by and soon the small figures started to grow and at the time when my son was older and ready to start his college the figures reach to almost 6000$ and I used that fund to pay the college fee and other expenses which I have to pay from the household budget or I have to take some education loan.

This way you can have other source of small income for other purpose too for those people who don’t have other part time job doesn’t mean that they can’t save money there are many hidden income source which many people fail to realize like commission for some work, tips, cash back from credit card, some contest prize, cash gift from your family and friends, money you got from used item sale last summer. If you enroll a habit of saving these dollars you can build large sum of money at the end of the year in my case here is what I have able to save apart from my part time job.

Tips and commission – 60$/month                      - 750$ year

Gifts from family and friends – 25$/month        - 300$ year

Cash back and petrol saving – 122$/ month       -   1464$ year

Yard and other used item sale - 150$ month     - 1800$ year

Then yearly I have able to save 4314 so at the end of the year I have 4314 $ and if I kept doing this for next 3 years the sum will be 12942 now that huge.