I pinched pennies and boosted my income to save thousands - Business Insider

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I used to think penny pinching was the only way to build savings, but now I have a 4-part strategy that helps me save thousands and enjoy my money

of living on my own in Los Angeles. At the time, I was earning a salary of $30,000. For the first decade or so of being gainfully employed, I practiced an extreme form of frugality.

For instance, during the Great Recession, I went through my expenses, line by line, and checked to see which ones I could lower. Even though I was fortunate to still have a job, I knew that it was important to save as much as I could. I wrote a letter to my landlord to ask for a temporary pause in my rent, and she agreed.

Also fun? Calling my cell phone and home internet providers and seeing what discounts I could snag. One year I brought my internet bill from $60 to about $30 a month, which saved me $360 over 12 months. I know that negotiating a lower rate can be a drag for some, but I find sublime joy in going for the ask — especially if it means a year of savings.When I had a day job, I side hustled in the evenings and on weekends.

 

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