This exercise may be extremely revealing for you. You may find some trouble spots that are really dragging down your ability to eliminate your debt and build wealth.<\/p>\n\n\n\n
If you\u2019d prefer to utilize technology to help you out, check out our list of the best budget apps for families<\/a>. Most of these free or cheap apps sync up your bank accounts so you don\u2019t have to import the numbers manually. It saves you time and saves you money! <\/p>\n\n\n\n There\u2019s something about the end of the year that makes me want to tidy up and get rid of things that I don\u2019t need. That way you can start fresh in the new year. <\/p>\n\n\n\n Let\u2019s definitely clean up our houses and also clean up our budgets too. Instead of eliminating those things that you and your spouse enjoy, I\u2019d suggest eliminating things that don\u2019t bring you joy.<\/p>\n\n\n\n You\u2019ll start to find them when you look through your budget. Thought like these may pop up!<\/p>\n\n\n\n You get the idea!<\/p>\n\n\n\n Small changes like these won\u2019t affect your happiness and they could free up thousands of dollars in your budget each year. <\/p>\n\n\n\n Let\u2019s say you\u2019ve examined your budget and there\u2019s not much you\u2019re spending that isn\u2019t a necessity. Well, you could definitely make more money!<\/p>\n\n\n\n I want to help you earn $1,000 before the month is over. Here are some thoughts on how to get it done:<\/p>\n\n\n\n Our trash can be turned into cash.<\/p>\n\n\n\n Clothes, bikes, toys, video games, furniture \u2026 you name it, people may be willing to buy it. Especially during the holidays!<\/p>\n\n\n\n I probably do this once or twice a year and pull in at least $100! Depending on how much stuff you have that has value, you could make $500 or $1,000 with your “stuff” that's just sitting around. <\/p>\n\n\n\n Do you have a job where overtime is an option? This may be the time of year when your employer would appreciate the extra hours and you\u2019d appreciate the extra cash.<\/p>\n\n\n\n It can\u2019t hurt to ask!<\/p>\n\n\n\n You may love photography, writing, or even woodworking. Let's find a way to get paid for it!<\/p>\n\n\n\n Here's a list of 30 side hustle ideas for parents<\/a> that can pay over $30\/hr. <\/p>\n\n\n\n There are thousands of people who have followed their passion and made great money. <\/p>\n\n\n\n They've used this money to pay off their debt, pay off their mortgage<\/a> and even reach financial independence. <\/p>\n\n\n\n Now, when you get that extra $1,000, consider throwing this money into your Emergency Savings<\/a> so you don\u2019t have to go into debt for the next Emergency. In uncertain financial times, it\u2019s always good to have some money in the bank. <\/p>\n\n\n\n With the year coming to a close, it\u2019s time to take advantage of your workplace retirement options like the 401k. <\/p>\n\n\n\n Is there an employer match that you\u2019re not taking advantage of?<\/p>\n\n\n\n Make sure you\u2019re getting all that free money before the year is up. If you\u2019re not sure if you\u2019re doing this correctly, check with your HR or benefits rep to ensure you\u2019re taking full advantage.<\/p>\n\n\n\n If you don\u2019t have a workplace retirement option, you can take advantage of a Roth IRA or Traditional IRA. <\/p>\n\n\n\n Related Content<\/strong>: How to Open a Roth IRA with Vanguard in 8 Simple Steps<\/a><\/em><\/p>\n\n\n\n Last year, the life insurance payout was the highest it\u2019s ever been. Over $100 billion dollars was paid out to life insurance beneficiaries<\/a> due to the high death rate fueled by COVID-19. <\/p>\n\n\n\n Ask yourself. If you were to die, how would that not only emotionally affect your family but financially affect them? Do they rely on your income (or your work) to survive and thrive?<\/p>\n\n\n\n If the answer is yes, then you should consider a term life insurance policy. <\/p>\n\n\n\n There are many providers out there. I have recommended our Quotacy<\/a> on my website for the past 5 years and they continue to provide a no-hassle sales experience, online and scan the marketplace for rates that work best for your situation. <\/p>\n\n\n\n There are dozens of other term life insurance providers<\/a> as well that can help you get the right policy fast. <\/p>\n\n\n\n A 529 plan<\/a> is a college savings plan for your child. <\/p>\n\n\n\n If your state provides a state tax deduction for 529 plan contributions, consider making another year-end contribution. <\/p>\n\n\n\n This additional contribution will not only help your children move toward a future debt-free college experience, but it\u2019ll help you reduce your state taxes as well. <\/p>\n\n\n\n I'm all about building family wealth! And I'm also all about building family happiness as well. <\/p>\n\n\n\n I believe giving money away adds to true family wealth and happiness. If you have the means this year, consider giving in three different ways:<\/p>\n\n\n\n This time of year is the lifeblood of these organizations. There\u2019s something about the holidays that opens people\u2019s hearts toward giving. Support your favorite charity this holiday season with a year-end gift. <\/p>\n\n\n\n We\u2019re all about giving gifts during the holidays. It lets your family and friends know that you care. <\/p>\n\n\n\n Have you ever given a big tip to a waiter or waitress? Or money to someone down on their luck? <\/p>\n\n\n\n That\u2019s the type of random act of kindness I\u2019m talking about. Get creative, do this with your kids and your spouse. This could be a fun family tradition in the making.<\/p>\n\n\n\nReduce Expenses (for things that don\u2019t matter)<\/h2>\n\n\n\n
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Earn $1,000 and Put in Savings<\/h2>\n\n\n\n
![\"hundred](\"https:\/\/i0.wp.com\/marriagekidsandmoney.com\/wp-content\/uploads\/2020\/09\/save-money-quotes.jpeg?resize=800%2C400&ssl=1\")
<\/figure>\n\n\n\nSell 10 Things Around Your House on Facebook Marketplace<\/strong><\/h3>\n\n\n\n
Extra Hours or Overtime<\/strong><\/h3>\n\n\n\n
Make Money from Your Hobby<\/strong><\/h3>\n\n\n\n
Increase Workplace Retirement Contributions <\/h2>\n\n\n\n
Get Term Life Insurance<\/h2>\n\n\n\n
Contribute More to a 529 Plan <\/h2>\n\n\n\n
![\"kids](\"https:\/\/i0.wp.com\/marriagekidsandmoney.com\/wp-content\/uploads\/2021\/04\/Happy-Kids.jpeg?resize=800%2C400&ssl=1\")
<\/figure>\n\n\n\nGive Generously (and Randomly)<\/h2>\n\n\n\n
Charities, Churches, and Non-Profits<\/strong><\/h3>\n\n\n\n
Family and Friends<\/strong><\/h3>\n\n\n\n
Giving Randomly to Neighbors<\/strong><\/h3>\n\n\n\n