Sometimes the best way to hold onto some of your hard-earned dollars is by figuring out any skills and services you can offer and swapping them out with other people.

For instance, maybe you’re a handy person and you have a friend who needs some odd jobs done around their house. And maybe that same friend makes their own wine. You can help out your buddy by doing his work and he can give you some of his wine.

Swapping is an easy and smart way to save money. Here are some ideas to get you started.

Clothing Swap

This is a great option for moms who have children who are roughly the same size. Kids can go through clothes like crazy, so if you can swap items that are no longer working for you and get ones from your mom friends, that’s a great money saver.

But it doesn’t just apply to kids, it can save women a lot of money too. If you have any friends who are close to your size, you can raid each other’s closets. Many items in most people’s closets sit unused because we tend to wear our favorites repeatedly. The items that we’re not as crazy about just sit there being ignored.

But one man’s trash is another person’s treasure. You can grab an armload of items you’d be willing to trade out and have a girls’ night where your friends of similar size meet and swap clothes. It’s like going shopping without receiving a big bill afterward.

Babysitting

Hiring a babysitter is expensive. You might just be looking for a date night out on the town or you might need someone to watch your munchkin while you’re at work. Either way, a friend may be able to help out free of cost. If they have a child too, you can offer to take theirs in return for another night.

Even if you only do this babysitting swap once a month, you can save hundreds of dollars during the course of a year.

Swapping Garden Produce

If you have a small backyard garden and your friend does too, you might want to strike up a bargain. If you have an excess of tomatoes, for instance, and your friend has had a great year with the corn he has planted, you two can exchange crops.

Exercise Gear

Paying for a gym membership can get really pricey. You’ll pay hundreds of dollars per year for a single membership in some cities and even more than that for a family membership. If you don’t have the money for that kind of thing, don’t worry. You can still get your exercise in.

Look at the equipment you do have at your house. Maybe you have some weights, a jump rope, a bicycle, and some exercise DVDs. Put out a notice on Facebook to see if any of your friends would be interested in doing a weekly gear swap.

Your friend might have a tennis racket and difference exercise DVDs. Another friend might have other equipment no one else in your group has. By doing a swap, you’ll get access to more gear that will keep your workout routine fresh, which will keep you more motivated.

To ensure you never have to worry about being laid off, you should try creating passive streams of income. Those revenue streams will come in handy even if you don’t get laid off – they may help you become financially independent so you can kiss your job goodbye as soon as you see fit.

Here are some ideas as to how to create those passive sources of income.

Buy a Rental Property

While you’ll have to do some basic duties as a landlord, it’s considered a passive income stream. You won’t have to do much work to collect your payday.

Some people have reached financial success by renting a duplex, living in one side of it virtually rent-free while renting out the other side to a tenant. You could also buy a house that’s in need of some TLC and spend a few weeks renovating it in your free hours. After that initial work, you’ll have a passive revenue stream you’ll always be able to count on.

Begin a Blog

Beginning a blog does take some work in the beginning. But once you set up your blog and add some articles, you might be able to turn it into a money maker. It will require some effort in the early months, but if you add in affiliate marketing or sell ads, it might be a long-term moneymaker.

If you have a great idea for a blog, but don’t have the time or effort to do the set-up work, you can always hire writers to provide articles. It will cut into your profits, but it may earn you more money in the long run.

Write an E-Book

Do you know more about a specific topic than almost anyone you know? You can write an e-book about it and potentially make a tidy sum of money. It will take a while to write your book, but after that, it can keep selling forever.

Look for a popular subject and give it your own unique spin. Wouldn’t it be great to make money off of something you did years prior?

Sell Your Photos

If you have a talent for photography, why not cash in on it? It takes a special eye to capture a moment as it unfolds. And it takes a savvy business person to realize that moment might bring in revenue for years to come.

There are numerous websites which allow you to post your photos. You won’t earn much money for a single sale, but over time, one photo can generate a hefty amount of money. And if you’re spending time doing a hobby you enjoy, you’ll have fun while doing it.

Charge on Your Cash-Back Credit Card

This won’t generate a lot of cash for you, but the good news is you won’t have to lift a finger to earn it. Charge any purchases you would regularly make anyway – like gas, clothes, and groceries. Use your cash-back credit card and make sure you pay off the full balance every month.

You’ll get paid to be responsible with your money.

You want to save money, and you know you have a bad shopping habit. So what are you supposed to do about it when the first thing you want to do after a stressful day at work is go out and buy something you don’t need?

We’ll give you some tips to help banish that urge to overspend because you’re stressed out.

Stay Off Your Computer

It’s hard to avoid stress shopping when you can do it 24 hours a day, seven days a week. Your computer gives you access to stores all the time, even when you should be sleeping.

The only way to help fight that urge to spend is to log less time on your computer. If you’re not on the computer, you won’t be able to visit your favorite cybershops. And if you’re not looking, you won’t be spending money.

Get Some Exercise

Finding new ways to cope with your stress will be good for your health and your wallet. Instead of going shopping, lace up a pair of sneakers and get in a good workout.

It doesn’t matter if you go for a walk, a run, or hop on your bicycle. They’ll all be great substitutes for shopping when it comes to dealing with your stress – and they’ll be healthier for you too.

Think About How Many Hours That Item Costs

If you hate your job and that’s what is stressing you out, you should think about that the next time you want to buy something. Look at the cost of the item and figure out how many hours you’d have to work to buy it.

So if you make $15 an hour and a $40 shirt catches your eye, you need to figure out if it’s worth more than 3 hours of work by the time you make enough money to pay for it after you pay taxes. Is a shirt you like worth spending 3 hours in a place you hate?

Thinking in terms of what you’re going to have to do to make that money might slow down your spending.

Wait Two Days Before Buying Something

It can seem like your world won’t be complete until you buy the object you’re after in a store. Even if you didn’t know it existed until that day, you can envision how cool you would look with it or how it might make your life easier.

But before you whip out the credit card or cash you were going to use to buy it, you should take a breather. Walk away from the store and consider that purchase for two days. That gives you enough time to really think about whether it’s worth it. Maybe you won’t understand why you wanted it so badly two days later. Or maybe you’ll want it even more.

You can always go back and buy it. But if you avoid buying even half of the items you’re considering because of this tip, you’ll end up saving a lot of money.

You’ve heard the experts talk about how badly everyone needs an emergency fund at their disposal and you’re in total agreement. You’re trying to set one up, but you aren’t sure how much you should aim to set aside.

Most experts will tell you it’s best to have 3 to 6 months’ worth of expenses in your fund. If your monthly expenses add up to $3,000, that means you could potentially need to have $18,000 in your emergency fund.

While that’s a good guideline to follow, you may need less money than that in your emergency fund, or you might need more.

The following factors can let you know whether you should plan on saving more or less.

How Steady Your Job Is

If you’re in a shaky industry or there have been layoffs at your workplace, you should aim for saving the full 6 months in your emergency fund.

Any time you think you’re in danger of losing your job, you should be extremely conservative with your money.

If Your Spouse Is Working

If you have a spouse who also works and would be able to cover part of your bills if you lost your job, you may be able to get away with only having 3 months of savings. It’s unlikely you’ll both lose your jobs at the same time. But if you’re both in shaky fields that have experienced a lot of downsizing, you might want to up that to 6 months.

Also, if you and your spouse work at the same company, it’s a good idea to save 6 months’ worth of expenses. If your company closes its doors, you’ll both be out of luck.

You Have Medical Issues

If you have a chronic or long-term medical condition, you should opt to save more, not less. Medical problems can be expensive and you have to make sure you’re covered fully for the worst-case scenario.

You Have Few Expenses

If you’re living at home with your parents still or if you are renting a place with a roommate, you should save more money. Although your expenses are low and conventional wisdom says you wouldn’t need as much in savings, you need to plan for the future.

Your roommate could move out and your parents could eventually kick you out so you can become more independent. If your expenses are low right now, that’s the perfect time to set aside more of your money.

You Have Children

If you have children, you need to save at least 6 months of expenses in your account. Children are wonderful, but they are expensive. They count on you for all their needs so you have to be responsible.

It would also be a good idea to open a Roth IRA on the side, in addition to funding your emergency fund. With a Roth IRA, you can take out the money you’ve invested in the account with no penalties in certain situations. That would allow you to have more money to fall back on if you faced some hardships and your emergency fund was drained.

You are sometimes only as good as the company you keep. That pertains to the type of people you hang out with in high school – if you hang out with troublemakers, you’re more likely to get in trouble. It also holds true for the type of people you gravitate toward later in life. If you surround yourself with spenders, you’ll probably become more of a spender too.

By finding one good money buddy, you can dramatically change your finances. A money buddy can be anybody – it can be your elderly neighbor, the guy you lift weights with at the gym, or a co-worker who seems to have their act together a bit more than you. It can even be someone online that you’ve never met.

Think about it, people tend to lose more weight when they have a friend cheering them on. They can save more money that way too.

Here is how a money buddy can take your game to the next level.

You’ll Each Bring Strengths to the Relationship

Maybe you understand the ins and outs of IRAs way better than your money buddy does and they are a whiz at finding ways to eat cheaply. By cashing in on each other’s strengths, you’ll be unstoppable.

They’ll Keep You Accountable

Make sure your money buddy knows what your goals are and you know what their goals are. That way you can keep the fire under each other’s feet. You should have a weekly or monthly meeting, whether it’s in person, over the phone, or through email or text.

See how you’re each doing on your goals and give each other the encouragement and feedback you’ll need to do even better in the future.

You’ll Have a Frugal Friend to Hang Out With

If your money buddy is someone you see in real life and don’t just chat with online, you’ll have a friend you can socialize with who won’t expect you to spend a lot of money while doing activities. They’ll be watching their money just like you are.

They’ll Tell You About Deals

Your ordinary friends won’t get too excited when you tell them about a great deal you’ve found at a store. Your money buddy though will hang on your every word. Nothing will excite them more than the idea of saving some of their hard-earned cash so they can reach their goal.

You Can Add Others

If one money buddy is good for you, maybe you should branch out and add more. You can make your own money group. You can easily create a forum page on Facebook that will only be accessible by the people in your group.

It’ll be nice to add more strengths and areas of knowledge to your group. It should help you get to your goal that much faster.

You’ll Have a Friend to Celebrate With

No one will understand quite like your money buddy how excited you’ll be when you reach your goal. Because they’ll have walked every step of the way with you, they’ll know how much it means to you. You’ll have someone to uncork that sensibly-priced bottle of champagne with.

You may be meeting all your monthly bills and even scraping together a small percentage of your paychecks to put in your 401k, but doing the bare minimum isn’t enough to be truly financially responsible.

Here are the 5 commandments you need to follow in order to build a solid foundation.

Be Responsible With Credit Cards

Credit cards can be a handy tool, but they can also quickly turn into a runaway train. If you find yourself charging groceries or other necessities without the money to pay off that card at the end of the month, you’re in trouble.

If you’re carrying a balance on your credit card, it means you’re spending more than you can afford to pay back. That’s a problem you need to address immediately before it keeps getting worse.

Do whatever you have to do to start shoveling your way out of debt. If you need to take a part-time job for a few months, try to power through it. Or make a solemn vow you won’t use your credit card anymore. Take any extra money that comes your way and start chipping away at that debt.

This is one of the top money commandments you can follow. Credit cards can erode your wealth and your sense of well-being.

Have a Will

Yes, this will cost you money, but having a will is a sign of financial responsibility. Your next of kin deserve to have some sort of instructions about what needs to be done if something happens to you. And if you have any assets at all, you need a will to help avoid any hard feelings or fighting amongst your family.

Do Not Buy More House Than You Can Afford

It can be tempting to go over budget on a house. It’s a long-term investment and you want to get everything your heart desires the first time. That way, you won’t have to move someday.

But overextending yourself is a bad idea. You don’t want to be so strapped for cash because of the big house payment that you can’t enjoy your life. If you worry about how you’re going to meet that bill every month, is it really the place you want to be?

In order to avoid breaking this commandment, when you’re house shopping, come up with a realistic budget. Don’t feel pressured to look at houses that are more than you can afford.

Save Automatically

If you try to count on yourself to set aside money for your emergency savings or 401k each week or pay period, you’re not going to get very far. You’ll be trying to scrape together the spare change that is left in your account, instead of taking the first swipe at the big bucks that are in there right when you get your paycheck.

Set up automatic savings that will take a chunk out of your check before you’ve had a chance to touch it.

Find Like-Minded Friends

If you want to be successful, you should surround yourself with successful people – people who share your goals and dreams. In this case, you want people who share your enthusiasm for having their financial act together. They’ll fuel your drive to succeed instead of your urge to overspend.

Are you thinking about opening a new credit card? Do you want to find one that gives you perks?

If you’re going to carry a credit card, you might want to make it one that works for you. There are several kinds of credit cards that carry rewards that might make it worth your while.

The trick with using these types of credit cards is learning to pay the full balance every month. You aren’t getting any benefit from them if you aren’t. So if you’re not already in credit card debt, try to become a responsible credit card holder. And if you are in credit card debt, start trying to dig yourself out of it so you can start reaping the true benefits of your rewards cards.

You should also make sure your card doesn’t charge an annual fee. If it does, it might not be worth it.

Let’s look at the two main types of rewards cards there are and what types of people will benefit from them.

Cash Back Credit Card

Cash back credit cards pay you just for using them for shopping. You’ll sometimes get up to 5 percent cash back for purchases you make with your credit card. For other cards, 1 percent cash back is a more typical rate.

Sometimes the credit cards will offer more cash back during a quarter for specific purchases. For instance, one Chase cash back card offers 5 percent on certain purchases during some quarters while offering 1 percent on other purchases. The catch is that you can only earn 5 percent cash back on up to $1,500 in purchases in the bonus categories every three months. But you can get unlimited 1 percent cash back on any other purchase you make.

If you are good at paying off the full balance on your credit card each month, you can earn money just for charging your groceries and gas that you’d be buying anyway. That’s a great deal for you if you’re committed to paying off the balance.

This type of rewards card is good for anybody. After all, we all like getting cash!

Travel Rewards Card

People who like to travel might like the travel rewards cards offered by multiple companies, including Bank of America. If you know you’ll be traveling regardless of whether you have a credit card or not, you’ll get a lot of use out of this type of card. You might be able to score a free flight if you spend enough – and as long as you’re paying off your balance each month, that will be a great perk.

With these kinds of cards, you earn points for every dollar you spend. Then you can redeem your points to pay for flights. If you’re not a flier, it’s no problem with this card. You can also use this card for cruises, hotels, and rental cars.

If you tend to be a homebody, this probably isn’t the kind of rewards program you should use. You’d get more use out of the cash back programs instead.

Both men and women should pay attention to their finances, but for women, the stakes are higher.

They are at greater financial risk than men are. That means they have to save more money. Here are some of the reasons women need to turn their focus to their finances.

The Wage Gap

Women earn less money than men do for doing the same jobs. That means women will earn less over their lifetimes, which means they’ll have less Social Security money coming in and they’ll either have less money saved or less disposable income to work with.

Women Live Longer

In a classic good news/bad news situation, women may be able to celebrate the fact they’ll live longer, but that also means they are at greater risk of outliving their savings. That means they need to have more saved up than men do.

Living longer can quickly erode your retirement account because many people have more medical problems as they age. They’ll need more money to fund their medical issues, as well as basic living costs.

They Might Not Work As Many Years

Some women stay in the workforce just as long as men do. But others take time out for raising their families or helping out their ailing mom or dad. Even if a woman stays in the workforce after she has her children, she might cut back on her hours – some women move to part-time work until their children enter school.

If they take lower paychecks for working fewer hours or they take a temporary leave of absence from work, it means they’ll earn less in Social Security benefits and they won’t be contributing as much to their 401ks.

They Don’t Love Risk

Generally speaking, women don’t tend to take on as much risk as men do when they are investing their money. Less risk can translate into less reward. While there is nothing wrong with being a bit conservative, embracing risk with your investments can help your money grow much, much faster.

What Women Can Do to Protect Their Financial Futures

The days of encouraging women to marry well in order to secure a comfy existence are long gone. Women can and do rely on themselves to take care of their finances.

If you’re the type of woman who doesn’t like to talk about money or even think about your long-term financial outlook, you need to roll up your sleeves and get to work.

You should draft up a budget as soon as possible. And if you think you’re being shortchanged at work, you should ask your boss for a raise. Women can be notoriously bad at asking for more money, even if they’re worth it. You have to make it and yourself a priority.

Consult a professional if you feel you’re not up to speed on what to do to improve your finances. Read some great financial books to teach yourself some basics.

Since you’ll need more money for retirement than many men will, you may need to consider working a year or two longer than you’d hoped to maximize your Social Security earnings. If that thought doesn’t give you the courage to ask for a raise, nothing will!

If you’re strapped for cash or you’re simply saving every penny you can to meet a financial goal, there is no shame about not giving people expensive gifts for the holidays. And there isn’t anything wrong with telling the charities you normally support that you’re scaling back some for the foreseeable future.

You can still help out charities and give your loved ones great gifts without opening and emptying your wallet. Here are some gift ideas that won’t leave you feeling sorry for being so generous.

Volunteer

Many organizations need volunteers willing to pitch in their time and effort as much as they need money. Habitat for Humanity, for instance, always needs people who are willing to help build homes. Even if you don’t have any experience with that kind of work, you can learn on the fly.

You’ll feel good about the effort you’re putting forth, whether you’re spooning up food in a soup kitchen or working for the afternoon at the local food pantry.

Money is nice and organizations certainly can’t survive without some funding. But hands-on work is just as important and sometimes harder to come by.

Lend a Hand to Family

Maybe in the past you’ve helped your grown children with their household expenses now that they have a family of their own to take care of. That’s great you’re willing to help and hopefully, they appreciate the financial assistance you’ve been giving them.

But if you need to scale back or perhaps not offer any money at all, there are other ways you can help them. Offer to babysit free of charge whenever you can if they’re at work or if they just want a fun night out. That way they won’t have to pay a babysitter and you’ll be able to spend some quality time with your grandchildren.

If the money you’ve been giving them has helped them with their grocery costs, you can go old school and grow some produce in your backyard during the nicer months to give them. Not only will you be sharing healthy food with them, but you’ll be saving them some money too. To make sure they have additional food for the winter, you can do some canning or freeze some of the produce that keeps well.

Give Them Heirlooms

If you’re considering downsizing or you don’t mind parting with some furniture or family jewelry, you can gift them to your relatives. Maybe your grandpa’s antique desk isn’t getting much use from you these days and you know it would look great in your child’s house. Or perhaps your daughter has had her eye on some of your nice jewelry for a while.

If you don’t mind parting with some of these things, it can be a great alternative to spending money just for the sake of purchasing a gift. Your family members will get a meaningful gift and you’ll be happy to see some of these items changing hands to the younger generation in your family.

Personal finance books can be a great way to teach yourself about better ways to handle your money, open your eyes about your finances, and even help gauge what’s important to you.

But not all personal finance books are helpful. Some might have great concepts, but they’re so boring you can barely keep your eyes open to read them. If you can’t convince yourself to read it, you’ll never learn anything.

If you’re looking for a personal finance book that manages to be entertaining and informative, we’ve got you covered. Here are our favorites.

The Automatic Millionaire by David Bach

My copy of this book is almost worn out because I’ve read it so much. It’s easy to follow along with, breaking down finances in the most understandable way possible.

David Bach outlines the simple steps you can take to become a millionaire with very little effort on your part. You’ll set up some automatic accounts and then forget about them as you become richer and richer year after year.

Bach will help you find painless ways to cut enough corners that saving enough money to invest will become a piece of cake.

How to Retire Happy, Wild, and Free by Ernie J. Zelinski

If you’ve never bought into that much-touted figure about how you need at least a million dollars to retire well, this is the book that will back you up in that conviction.

This book is more about teaching you how to live well on the money you’ve set aside. It also isn’t one of those finance books that tells you to put off retirement so you can maximize your social security earnings. It encourages you to pursue early retirement if that is what makes you happy.

The Total Money Makeover by Dave Ramsey

Dave Ramsey has arguably become one of the most popular personal finance gurus on the planet.

His books have helped many Americans dig themselves out of the financial holes they’ve created for themselves. If you have a serious debt load you want to tackle, this is the book you should be reading.

He doesn’t sugarcoat anything, so if you’re looking for a book that’s going to make you feel good about your past money mistakes and overspending, this isn’t it. But if you stick with the program, you’ll start paying off your debt.

Your Money or Your Life

This book is the ultimate testament to frugal living and all its perks. It is more about pursuing happiness than financial status symbols. What good does that fancy sports car really do for you if you feel like a piece of your soul is dying each time you head to work in the morning.

The main idea of this book is that every purchase you make is costing you your time. You had to put in the time to earn the money to buy that item. Because of that, you need to make sure it’s really worth it in the long run.

You’re trading your life minute by minute for your purchases and that’s a powerful message this book conveys beautifully.