Little Things: The Earning Edition

Last week’s blog discussed how minor expenses can erode a financial foundation and, if I may get scientific for a moment, the topic reminded me of how wind and water erosion lead to major ecological degradation. Keeping that geographical theme, this week I examined how small additions of income can build wealth, similar to how mineral deposits create structures like stalactites and stalagmites in a cave.

Bringing it back to the wallet, any positive adjustment, no matter how small, contributes to the bottom line. For example, my workplace offers a bonus for perfect attendance each month and I’ve made it a goal to achieve that for the duration of Project Money. There have been some close calls but I’m still going strong! Increasing cash flow may require creativity and keeping your eyes open – here are some suggestions:

• Wellness incentive programs. Health insurance companies may offer rewards for completing activities like filling out a health questionnaire or syncing a wearable activity tracker that counts steps. This is excellent motivation to take a walk or bike ride and provides an additional lure of earnings.
• Cash back and reward apps. Some apps offer monetary rewards for allowing access to step-tracking data, receipt-scanning, or online shopping. They may take some time to accumulate but will deliver rewards for things you might already be doing and that require minimal effort.
• Proof-of-purchase freebies. For example, I discovered an offer of a free children’s toy with proof of purchase for a brand of applesauce. Applesauce is something my family regularly buys and the toy will save money when my grand-niece’s birthday comes up this month.
• Entering contests. I’ve done this more than I normally would have considered in the past. It’s true that you can’t win them all but recently I won a $25 gift card to a thrift store and tickets to see Journey! Hey, someone has to win so Don’t Stop Believin’!

Creating a budget was one of my main goals upon starting Project Money and was the primary focal point of the first several weeks. I learned that the act of recording income and expenses on a budget is very helpful for personal finances but will not create change on its own. The act of using a budget as a tool can propel financial standing to the next level and I am up to the task!