So you make money only with tips and you want to start saving money? Well I have been down that road before and it’s not easy. When I was in high school I worked at Applebee’s as a food expediter. As a expediter you set up the bar tender or waiter their customers food with condiments, you make sure the order is right, you make sure that the food was hot and you make sure that the orders go the right person. Well as a expediter you made money with tips and you and the waiter would need to split that tip. So I was making about $4.00 dollars an hour plus tips. I didn’t make much money but I do learn some things about tips and how to save for tips. I am not sure if Applebee’s still uses expediters these days. Getting tips are hard to come by but you have to think outside the box.
How do I start saving money with a tip based income?
The first thing I would do is try your best to make more tips. Work harder if you can, go the extra mile for your customers, and try talking to your customers. when I worked in a tip based business, those things helped me get more money so the first thing is to make more money.
The next thing I would say is to spend less money if you can. I have written blog post in the past where spending less money and cutting out things that you can do yourself can help you save money. For example my wife and I used to pay someone to cut our lawn and we would pay him $40 dollars every 2 weeks which is $80 dollars per month. We got a lawn mower and weed eater and now I cut the lawn saving us money.
One thing I did was cut out the pest control from our bills and now I buy the pest control chemicals myself and spayed that around our yard which will save us money. So check out your monthly bills and see what you can do yourself without paying someone to do it and what can you just cut out or replace at a cheaper price.
Since you are working mainly for tips, maybe work more hours or maybe it’s time for a better job. Let’s face it, getting most of your money from tips is not a long term that we’re you can depend on that income. Maybe we should for a new job or keep that job, learn whatever you can from that job and try to find something else if you can.
Saving money:
Saving money today is mush easier now. Using your banking apps you can just set up an saving account and have some money automatic sent to your saving. You don’t have to save a lot of money. If you can, just do $20 to 30 dollars every time you get paid. Over time that will add up fast. With tips, you never know what you are going to get. You have a big night with tips and a slow night with tips. Try to lower your bills as much as possible and save money. With tip based business, you know that that is hard to live with just tips. Keep your tip job but maybe on the side try to find a job with stable income coming in. what I tell people know is maybe it’s time to start your own business. Nothing wrong with a tip base business but that income is not the same all the time.
Start a side hustle when you can and it does not have to be something that is hard. On this blog I tell people to start a YouTube channel. You can make videos on the go or on your lunch break with your cell phone. This is something to think about but it’s hard to live off tips. Saving money can be done with your banking apps today to do it passively so you don’t have to. But saving money is not the only that you can do. You can invest some money into yourself with online lessons to learn a new skill. You can invest into the stock market with only $10 dollars. You want your tip money working for you in different ways.
I invest in bonds, the stock market, a saving account, an acorns account and buying lessons online to learn something new. You can build things over time but it starts today. Having an online bank in my opinion have the best rates. But with today bank lowering their rates, you juts hard to make any money with a saving account. I drive for uber on the weekends and I do get tips sometimes which is nice. With the tip money that I get, I put the tip money into the stock market manly dividend paying stocks. With dividends stocks, I am buying assets that will make me money. Money comes and it goes but we all should be investing that money in some way. I use to buy dumb things when I was younger getting tips at my old job and I wish I would had invested that money.
Start saving money with a tip based income?
I would start by lower you bills as much as you can. Get a cheaper cell phone plan, try not going out to eat and eat at home. Use you bank online app and set up an deposit each week on a certain amount like $20 to 30 dollars per week if you can. Try is learn ways to make money. Invest in yourself, start an YouTube channel and a blog and build those up to make money. That tip based job will not work down the road cause the money you get is never the same. Try to invest your money into the stock market and the bond market but please do your own research before buying any stocks or bonds. If you want more info on how to invest in the stock market please go to YouTube and type in the dividend stock king. That is my YouTube channel talking about the stock market. Below I have links to the things that I invest: check them out and do some research before investing:
Investing in the stock market: Click here
Investing in bonds click here
Start a blog: Click here
Check out Udemy for online programs to learn something new: https://www.udemy.com/
