Christina LaRosa

speaker

55 appearances 1 recordings 1 series first heard May 2020 last heard May 2020

Christina LaRosa’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Saving Money During Coronavirus: Some Not-So-Obvious Tips · 27 May 2020 podcast

But if you are, the idea is that you basically force yourself to pay for wearing these comfortable clothes again.

So if I decide today that I'm going to wear, you know, a pair of sweatpants or maybe even a pair of comfortable jeans to work as opposed to getting more dressed up, then I'm going to almost make myself put money into the sweatpant jar.

This is actually, I think, my favorite hack of all the ones that we receive.

It kind of is a reversal of what most people do.

Most people get direct deposits into their checking accounts and then they will transfer a certain amount into savings.

This kind of is the opposite.

You get all of your money going directly into your savings account.

So the savings is built in and then you just transfer out the amount of money you know you need to spend.

So you don't have to think about, oh, let me put aside this amount of money because you're doing that by default.

The trick to that is you have to be pretty cognizant of how much money you actually are going to spend and what your expenses are because you want to make sure you have enough of that in your checking account.

I think all of us during the quarantine have cleaned out attics, have cleaned out basements, have cleaned out closets.

And the idea for this one is that you take one item a month and you sell that item.

And if you do this on a monthly basis, then you're creating a bit of a revenue stream for your savings account.

Instead of the article of clothing or the piece of furniture or the toy sitting in your attic or your basement, you're actually selling it and making some money.

Thank you for having me.

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