S U PE R SAVE R Secrets
FIX IT WITH FACEBOOK For all those little projects that need doing around the house, Tai says Facebook has been her savings network. “I’ve recently joined a group for handymen in my area— it’s free, and packed with amazing professional contractors, painters and carpenters looking for a little side income.” Tai posts when she needs something worked on. “I just describe the work that I need done, and within minutes, I have qualified candidates bidding on it,” she says. “I got my daughter’s room painted for $50 instead of the usual $200 to $250!” To find a group in your area, type your city, then the words “Area Handymen Group” in the FB search box and request to join. (Just be sure that anyone you hire is licensed and insured.)
GENERATE INTEREST Kathleen Celmins, stackingbenjamins.com Hometown: Portland, OR
Your savings should be earning you interest. If you have a long-term goal, a regular savings account, with its superlow rates, isn’t the best spot for your cash. Kathleen suggests an index fund—one she used from Vanguard grew more than 12% during 2014, as opposed to the under-1% average yield for a savings account. “If I needed it, I could access it in 48 hours, and I got higher returns.” Kathleen also likes not seeing high balances when she checks her account, since “that might make me want to book a fancy vacation.” Index funds fluctuate, so this isn’t a good shortterm savings option, and you’ll pay taxes on your capital gains. But if your timeline is measured in years, the return is much higher.
BINGE WORK
Lauren Bowling, lbeeandthemoneytree.com Hometown: Atlanta
Earlier this year, Lauren was slowly paying off $8,000 in credit card debt. “Then I went on a debt blitz,” she says. A content marketing manager by day, Lauren devoted every spare moment to earning money to throw at her debts. She found gigs on spot-job websites and through old clients. “I got a few jobs just by asking,” she says. In the end, she was able to pay off the money in 90 days. “It was a crazy time but absolutely worth it,” she adds. The debt monkey is off her back, and she is free of interest payments!
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womansday.com
September 2015
TOP RIGHT AND CENTER LEFT: GETTY IMAGES. BOTTOM RIGHT: BRIGITTE MERLE/GETTY IMAGES. BOWLING: COURTESY OF STACEY BODE PHOTOGRAPHY. MCNEELY AND CELMINS: COURTESY OF SUBJECTS.
Tai McNeely, hisandhermoney.com Hometown: Chicago
