Move into a house that has a smaller price tag on it and you could keep more of your paycheck, perhaps as much as ten percent or more of your paycheck. But, moving has unique expenses like shipping, transportation and labor. You’d also have to shop for a new home, play closing costs and inspection and mortgage fees.

Lower housing costs without leaving the home you love

And if you love where you currently live, moving may be the last thing that you want to do. Yet, you still need more money. Look over these tips to learn how you could keep more of your paycheck without moving,

  • Roll credit card balances into lower interest accounts. Pay attention to the fine print. Some cards start low then jump as high as 23% a year after you open the account.
  • Combine student loans into one low interest account. Check with your bank to see if they offer this service. If not, consider getting the service from another lender. If you choose this route, make sure that the total monthly payments and total interest that you will pay on the combined loans is lower than what you would have had to pay had you not combined the loans.
  • Rent out a portion of your home. You could receive several hundred dollars a month if you rent out one floor of your house.
  • Take on part-time freelance work. By working as a freelancer, you could work from home and increase your overall income. Set your own hours, deciding if you’re only going to work three, five or ten hours a week as a freelancer.
  • Conduct a monthly yard sale. A good yard sale can bring in a thousand dollars or more. Organizing a yard sale is also a good way to keep your house clear of clutter.
  • Create and stick to a budget. This is a habit that can pay off for years. Identify how much you are going to spend on food,clothing, entertainment, home upgrades and travel. See if you can cut back $100 a month on unnecessary spending.
  • Pay yourself first. Invest in an IRA or another savings plan before you go shopping.
  • Switch to lower cable, telephone and Internet plans. Are you paying for cable channels that you hardly ever watch? Consider switching to a lower priced plan. You may also find a better rate with a competitor.
  • Avoid giving into your children’s whims to buy them more toys or electronic gadgets. Steer clear of emotional spending to keep more of your paycheck without moving.

It doesn’t take a major repair to send you dipping into your savings to maintain your home. Routine lawn, roofing or wiring care can add up. Let your home owners association raise its fees or your local municipality raise property taxes and you’ll have less of your paycheck to keep. Fortunately, there are choices that you could make that allow you to enjoy keeping a larger portion of your income,without you having to move or log more hours at work.

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