saving spending and credit

How to Increase Your Income

Finding money to save often demands an extra effort. It may require you to increase your income or reduce your spending. One way to increase income is to get a better job. This may be a challenge given the current economy, but it still pays to look -- and there are other ways to augment income. Which of these also may help you increase your income?

1. Review your tax exemptions to see if you are overpaying Uncle Sam.
2. Tap into the funds in your retirement account.
3. Make the minimum monthly payment on your credit card balance.

The correct answer is “A.” The IRS website (www.irs.gov) has a withholding calculator to help you do this. More ways to increase income: Get a part-time job, rent out a room in your home, apply for government benefits, or refinance your home, auto, and personal loans to reduce the payments.