First, let me start off by saying that I’m not advocating that you should spend your money willy nilly. I think good financial management includes making good choices about how you spend your money. However, when money is tight, many people go into save mode, instead of earn mode. Both take time and effort, but one keeps you feeling stressed and lacking while the other improves your financial situation.

I know when times have been tough in my family, I start couponing more aggressively and look for ways to cut my cable bill and other non-essential expenses. These tactics can help, but often not enough to stop the financial hole being dug. Further, when you consider the time saving takes, especially couponing, you have to consider that earning more income is a better financial option. While extreme couponers may get their groceries for nearly nothing, they’re spending the equivalent of a part-time or full-time job to do it. If they save a $1000 on groceries a month and spend 30 hours a week to achieve that, it comes to saving $8.30 an hour. A better option is to work part-time from home earning $10, $15 or more dollars per hour. Earning $10 an hour working 30 hours per week, nets $1,200 per month, $200 more income than couponing saves.

That’s not to say there isn’t a place for frugal spending. Why pay $100 per month in cable, when you can get Hulu Plus and Netflix for $16 to $25 per month? Why pay full price for groceries when a loyalty card will save you 10 to 20 percent even without coupons? However, setting a goal to earn more instead of saving more is usually a better use of your time and allows you to keep your current standard of living as opposed to feeling like you’re giving up things you enjoy.

There are many ways to generate extra income including selling your unwanted items on eBay, find freelance work on microwork sites, or starting a part-time home business. Below are links to articles on WAHS to help you make extra income quickly.

Ideas to Make Money at Home ASAP

Make Extra Money Fast

24 Microwork Sites to Make Money

Make Money with Your Smart Phone

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