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The recession is showing little sign of abating. Millions of us are having to tighten the purse strings and cut back on life’s little luxuries more than ever. It’s enough to send you cowering under the confines of your duvet and give you cause never to resurface.
Fear not, though, there are still countless ways to make and save money, and they’re all around you just waiting to be discovered. So, put your ‘glass half full’ cap on and read on to see how you can uncover the overlooked and unusual ways you could bolster your finances.
1. Put Some Faith in the Stock Market
OK, so we may not be in such a financial pickle if it wasn’t for the stock market, but whether we like it or not it is an essential part of the global economy. And, even in this rocky time of recession, there is always room to strike it rich. The size of the world stock market was estimated at around $36.6 trillion US at the beginning of October 2008, and is increasingly growing.
To get a slice of the action, you will need to find yourself a stock broker to buy shares on your behalf and some good advice to lead you along the way. Not only can it be lucrative, it can be an exciting experience to take a chance with your money in the rollercoaster ride that is the stock market. You don’t need to be a trained in the art of the share market to give it a go, there are many courses and books open to the public bursting with information that claim to help improve your skills in buying and selling, and assist in helping you choose which companies to invest in.
2. Keep an Eye Out for Random Notes
Imagine your luck: smiling up at you from the pavement is a bank note you stumbled upon completely unexpectedly, and the beauty of finding one of these is that you did absolutely nothing to earn it! Think of what you can save money on by finding an extra $10, it could buy you a day or two of groceries or allow enough room in your finances to treat yourself to a great bottle of wine.
Finding money can come in many different forms. How many of us have checked an old bank account only to realise there is money still in there that we forgot we had? Or, in a flush moment of glory you overpaid on your credit card and decided to keep it for a rainy day. Now is the time to cash in on your forgotten bonus, and enjoy.
3. Search for Hidden Treasures
Running parallel to the joy of finding money is the elation of finding an item that contrary to its unremarkable appearance is secretly worth a fortune. These ‘diamonds in the rough’ could be something you happen to pick up at a car boot sale, a charity shop, or garage sale.
People are often attracted to these pieces by gut instinct only find later on they’re in possession of something very special.
This incredible experience happened to a lady in New York when she found an old discarded painting behind two rubbish bags. She went on to discover it was a ‘missing masterpiece’ and worth over a million dollars. She explained when she saw the painting; it had a “strange power” about it. You can read the full story on the New York Times website.
4. Return a Stray Pet to Reap Rewards
An owner who places ads, leaflets and flyers in desperation of finding their lost pet will usually offer a substantial reward for their safe return. Pets are more important than people to some furry fiend lovers, so it comes as no surprise that a few owners have been known to offer $1000 in exchange for their pet being found and returned safe and sound.
Not only will you succeed in making someone’s day a little brighter by being instrumental in reuniting them with their beloved pet, but your day will also be a lot sweeter with that extra cash in your pocket! So, don’t ignore those bedraggled bits of A4 paper stuck to various posts and piles around the city, they could be key to increasing your bank balance.
5. Check Out Those Last Minute Deals
It is a well-known fact that you can save money by doing things at the last minute, and we’re not suggesting just using one of the various last minute travel websites, but applying that logic to your way of life… adopt a ‘fly by the seat of your pants’ approach to anything and everything. It may not be for everyone but it’s amazing what deals will come up when you least expect them to.
Be ready to jump to when goods are discounted. In supermarkets there are often reduced price foods that are perfectly fine to consume, the shops just have to comply with their selling standards but often the food could last easily for a few more days. If you think about it, you’ll be helping to curb the atrocious amount of waste in the developed world by doing so. And always keep a beady eye open for closing down sales; it’s amazing what deals you’ll pick up.
6. Give Up Smoking
If you’re a slave to the dreaded weed you probably will have heard this before, but … maybe you haven’t: Not only will your health and life expectancy improve when you choose to give up the habit, but so will your bank balance, especially if you’re a heavy smoker able to go through 20 a day. By kicking the habit you’ll easily save a couple of $100 a month. That’s a good few thousand a year. Just imagine what you could do with that money – book a holiday, do up the house, get a new bathroom, or simply be able to finally pay a few nagging bills; the choice is endless.
7. Unclaimed Assets May Be Waiting for You
We’ve all seen and enjoyed films like ‘Brewster’s Millions’, where an average Joe inherits a substantial sum of money from a distant relative and lives happily ever after, but what if it actually became a reality for you? What if there really was a pot of money out there somewhere with your name on it? Apparently, this hazy dream could become a reality for many, as there are billions of unclaimed funds just floating around ready to be retrieved. These unclaimed billions are usually held by federal and state governments and come in the form of taxes, pensions, savings accounts, property and bonds. They are usually the result of people losing track of their money through forgetfulness, abandonment or old age, or the unclaimed money belongs to an unsuspecting heir.
Finding out if you have unclaimed money is easier than people tend to think it is, all you have to do is pick up the phone or visit the Unclaimed Assets website (US only). There are lots of success stories out there to spur you on; one account is of a retired school nurse who found $5,000 in retirement funds, after 19 years of work.
Be warned though, this doesn’t mean that all those dodgy emails you’ve been receiving from the Ivory Coast about someone’s dead husband who left a fortune are worth pursuing. They’re not!
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