In a recent post, I mentioned a sacrifice of just $10 a day in your paycheck could stack up to be over $1 million in about 35 years.  Most of the folks that read that article probably thought, “well that’s great Murphy but where am I going to find $300 a month”.   I understand that may be a problem for most. CNN Money reported most Americans are living paycheck to paycheck and 60% do not have $500 to cover an emergency.

Check out the Murphy On Money podcast! Listen to “Murphy on Money – Ep7 – 2 Effortless Ways to Save $300 a Month” on Spreaker.

BUT as luck would have it, I came across a post that gave 10 Ridiculously Easy Ways to Save $300 a Month.  I mean it was actually $300, serendipity am I right?!?  Well almost. If I’m being honest with you, most of the ideas were pretty lame. So I’ll just highlight the two gems I’ve used in the past which were super helpful in my debt-free journey.

Cut back on the cars:

The average car payment in the US is $480. That means almost half of car payments are 500 dollars are more! For some reason when I was younger I realized that massive car payments would keep me from having financial security. I chose lesser cars than what my friends drove. It was hard especially when my ego wanted to chime in. You see, I knew I was making more money than some of them but they looked the part much more than I….  (maybe that ego comment was a little too real but common, you’ve felt that too yeah? maybe I’m just terrible.)
So if you have a big car payment see if you can get out of it and get a lesser car.  Heck, maybe you could drive a paid for car and bam!  you would have freed up at least 300 dollars.

Get a roommate:

I’ve got good news and bad news.. which do you want first?

Okay, the bad news… turning 30 and having a roommate didn’t exactly feel awesome. In fact, before I met my wife, I felt girls I met perceived it as if I wasn’t doing well for myself.  (Remember I had a roommate and a 13-year-old car!)  However, that was pretty far from the truth. Actually, between my roommate and I, our ‘household’ income was well over $200K and we split a $1,300/month rent for a 1,100sqft apartment.

So now the good news…  I met my wife.  She proved to be one of the most supportive people I have ever met.  She was super cool about my frugalness while I worked to get myself out of debt. So I guess the good news is that in a way I attribute me meeting someone of such quality, not in spite of, but BECAUSE of, my living situation.  At the end of the month that saved me well over $700 every month!  So if things are tight, maybe try a roommate that should save you much more than $300/month.

So if you can, take advantage of one of these two saving gems and free up that $10/day to direct toward your retirement so in the future you can, as Dave Ramsey would say, “live and give like no one else.”

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