Smart moves when cash is tighter than time – Newsday

Lots of people have more time than money nowadays. If you’re one — maybe you’re taking a staycation or you’ve freed up commuting hours by working from home — optimize that extra time by making smart financial moves that won’t cost a dime.

“If you have time but no money, it’s time to become the best version of yourself,” says Ryan J. Marshall, a financial adviser in Wyckoff, New Jersey. “What separates successful people from people who struggle financially is often how they spend the time they are given each day.”

Here are some ideas for freeing up cash. 

Assess spending 

Drawing up a household budget is step one, perhaps using the 50/30/20 method to divvy up needs, wants, and savings or debt repayment. But creating a budget should be about liberation, not deprivation — about finding money to spend on things you care about and cutting ruthlessly on things you don’t.

Recurring expenses are the black hole of regretful spending. Examine your credit and debit card statements to identify subscriptions and re-justify them. When a recurring expense makes the cut, try to get a better price — we’re looking at you, cable, internet and cellphone bills.

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