How to make more to save for trip?

[CantSwim63]

In addition to couponing, reviewing what they spend on extras and making changes could easily result in savings of $2 - $3 K in 18 months.

E.g. Switch from Starbucks coffee to a french press and grind beans to make your own coffee = at least $1/cup; each bag lunch vs. take out = $5; cut down on going out to restaurants; tap water vs. bottle water = $?; make your own snacks vs. store bought = $?, etc.

 

[Teresa Pitman]

I agree with the others who suggested looking for a local auction or sale site on Facebook. I know people who go to thrift stores and garage sales, look for items they think are underpriced, and then re-sell them on the facebook auctions or through craigslist. Baby and kids items do especially well.

TP

 

[DisneyEater]

All great stuff. They are pretty responsible and frugal, so they are doing a lot of these already, but there are some on here I think they can do. I hadn't tried Perk yet, so I will have to check that out.

 

[Iowajes]

ETA: If he can pick up ONE tutoring job per week, even at $50 an hour, he will have ballpark $2800 saved... I'm not counting summers, though I have tutored over the summer. That's for ONE hour per week.

Once you pay self-employment taxes on that, you have about half of that saved. Not that it isn't still a lot of money. (And make sure to pay quarterly! They hit you with a pretty big fee if you don't know you are supposed to do that and just pay at the end of the year- ask me how I know!)

But at $50 a week, $2800 will take 56 weeks, which is more than a year, so I don't really understand your not counting summers comment. My tax rate on self-employed is almost 50%, so to get $2800 post-tax, it would take 2 years and 2 months.

But still, there are very few part time jobs you can earn $25/hr post tax, so I highly recommend anyone who can tutor and needs extra money does it!

 

[abmitch01]

can you get the extended family to do some frugal things with the trip? Like maybe rent a house? we rented some gorgeous homes in Windsor Hills that cost much less than staying on property and we saved by cooking at home at least some of the time. We had our own private pool as well. The houses had two master suites. the kids loved coming home tired from parks for a quick swim before bed. We loved it.

 

[Aliceacc]

Once you pay self-employment taxes on that, you have about half of that saved. Not that it isn't still a lot of money. (And make sure to pay quarterly! They hit you with a pretty big fee if you don't know you are supposed to do that and just pay at the end of the year- ask me how I know!)

But at $50 a week, $2800 will take 56 weeks, which is more than a year, so I don't really understand your not counting summers comment. My tax rate on self-employed is almost 50%, so to get $2800 post-tax, it would take 2 years and 2 months.

But still, there are very few part time jobs you can earn $25/hr post tax, so I highly recommend anyone who can tutor and needs extra money does it!

I would imagine that every source of income being discussed would be taxed, no?.

The OP has 18 months or so. Even at $25 per week After taxes per job, it's a steady, predictable form of income. Two jobs per week would be easy enough to fit in.

I discounted summers because there tend to be fewer people looking for a tutor when school is not in session.

 

[Aliceacc]

How bizarre!

Every time I click on "User CP" to see a list of my thread subscriptions, this one thread comes up at the top of the list.. with nothing new.

I figured I would try priming the pump by posting, and see what happens.