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| Lindy Katzenburg |
5 Ways to Save Money With Your Job
- April 25, 2012
Tips on Saving Money
You may not be in position to negotiate a raise, lower your car payment or take an ax to your electric bill. But you can still stretch your paycheck to save money. Here are some ideas you might not have tried yet for saving money:
1. Use pre-tax deductions to pay for insurance and transportation costs to save money. You need medical insurance and some way to get to work. If your company has more than 50 employees, chances are they offer some sort of medical insurance and a metro transit card (if you live in a large city). If you're currently paying for these items out-of-pocket, switching to the company option will add a few dollars to your wallet if only because the expenses are paid from your gross income rather than your net income.
2. Lower your taxes. New York City income tax rates range from about 2.9% to 3.9%. If you make $100,000 per year, moving across the Hudson will save you nearly $300 per month in taxes. Your zip code won't be as fancy, but you won't give up much in the way of metropolitan living and you'll actually have a view of the Manhattan skyline.
3. Use the company gym and drop your gym membership. If you work in large office building or office park, it's likely your firm either has a gym or the management company that runs your firm's property has a gym available to tenants. You may have to ask around, call the management company, and take a gym bag to work. But it could be worth it to save $100-200 per month.
4. Drink the company coffee and eat the company lunch. I know you have a Starbucks downstairs and love going out to Café Napoli for lunch, but a cup brewed in the company's Keurig machine is free and will save you time and money.
5. Defer expenses. If you can't avoid them, that is. If you have to buy a new work wardrobe every 3-6 months, be sure to buy only what you are going to wear in the upcoming season. The sales may be hard to pass up, but there's no sense in buying a summer skirt in September only to have it hang in your closet until the following May.
Photo by Michelle Burrus
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