A rainy day doesn’t have to be a lazy day. If you’re stuck inside your house, there are plenty of ways to make the most of your free time. For example, if it’s been a while since you reviewed your budget, it might be a good idea to look over it. And if you haven’t been saving enough money, you can figure out how to cut back on spending. Check out 13 ways to save or make money on a rainy day.
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1. Start Freelancing
Whether you have a knack for designing websites, writing blog posts or taking photos, you can use your talents to earn extra income by freelancing. Don’t forget to tap into your network and ask whether anyone’s looking for freelancers. If that doesn’t get you anywhere, you can spend your day off searching the web for opportunities.
2. Prep Your Meals for the Week
If you’ve been spending too much money on groceries lately or eating out too frequently, you can take advantage of your rainy day by prepping your meals for the whole week. You might be surprised to find that an ordinary meal can last for several days. Planning and preparing meals in advance are great ways to save money.
3. Research Investment Opportunities
If your busy schedule has kept you from investing, you can spend the day looking for a financial advisor or doing research to find out what’s happening in the market.
By investing, you’re essentially putting your money to work. If your investments perform well, you could potentially build serious wealth and increase your net worth. Just keep in mind that you’ll be taking on some degree of risk and that returns aren’t guaranteed.
Related Article: How to Choose Between Saving Money and Paying Debt
4. Bundle Up
If your electricity, internet or water bills are costing you a fortune, a rainy day could provide you with the perfect opportunity to find out why you’re paying so much for utilities. If you can’t negotiate and convince your service providers to lower your rates, you could always ask whether they’ll allow you to bundle your services. Having a single company provide you with all of the utilities you need could help you boost your savings.
5. Evaluate Your Budget
Regularly reviewing your budget can help you get rid of your bad financial habits. After all, it might be easier to stop wasting money if you know that you’re spending the majority of your fun money on food or travel. When you have plenty of time at your disposal, it never hurts to evaluate your budget and make appropriate adjustments.
6. Automate Your Finances
If saving is something that you always forget to do, it might be a good idea to automatically have a portion of your income withdrawn from your checking account and deposited into your savings account. That way, you no longer have to worry about it.
There are many ways to automate your finances. You can sign up for auto-pay so that your bills are paid on a certain date every month. But even if everything’s on autopilot, it’s important to look over your account statements from time to time to make sure that your bills are being paid and that you’re socking away the right amount of money.
7. Surf the Web for Deals
The internet is full of discounts and deals. Instead of watching TV all day or twiddling your thumbs, you could check out a website like Groupon or Coupons.com. Those kinds of sites give you the chance to save money on everything from gifts to groceries.
8. Evaluate Your Credit Situation
If you’re paying high credit card fees or you’re charging your credit card too frequently, it might be a good idea to spend part of the day figuring out which card to cancel. Doing that might hurt your credit score, however. Before you decide to ditch one of your cards, it’s important to consider how that might affect your credit history and your credit utilization ratio.
Related Article: What Is a Debt-to-Credit Ratio?
9. Clean House
Are there any clothes or equipment in your home that you can get rid of? Your old junk might be worth something to someone else. You can spend the day gathering together whatever you plan to sell. Then when you have additional free time, you can try selling your clothes at a thrift or a consignment shop. You can also score a tax deduction by donating some items to charity.
10. Make a Pact
Meeting your financial goals might be easier if you have someone to hold you accountable. For instance, you and your family members can pledge to spend less money. You can agree to save a certain percentage of your income or work toward some other goal, like trimming your grocery bill.
11. Plan to Start a Garden
Even if you don’t have a green thumb, you can use your rainy day to think about the fruits and vegetables that you want to start growing in your backyard. That’s another way to minimize your grocery costs and with access to a garden you’ll be able to eat healthier food as well.
12. Manage Your Debt
Paying off credit cards and other kinds of debt can take months or even years. If you’re struggling to dump your debt, it might be a good idea to come up with some strategies that might speed up the debt repayment process – strategies like debt consolidation.
Why buy something that you could just create? Cleaning supplies and home decor are two things that you can make at home. Arts and crafts projects can be fun and rewarding at the same time if they allow you to save money.
Rainy days don’t have to be depressing or boring. If you have the day off, it might be a good idea to use that free time to get your finances in order.
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