Many individuals who are currently involved in a Christian debt relief program may feel like they are doing everything they can to reverse their bad financial choices of the past. Some of the tenants of Christian money management do require a great deal of sacrifice.

You may not be able to believe that there are any other areas in your life in which you could possibly save another dime to go toward your debt relief efforts. You would be surprised, however, at how some old school savings methods can really translate into extra cash over time.

Coin Jar Magic

Simply collecting change in a coin jar can really add up if you deal mostly in cash for all of your purchases. Using only cash is a good habit to adopt for individuals who struggle with controlling credit cards.

All that change left over from each transaction goes straight to the jar and does not leave till you are ready to deposit it into your checking or savings account. Only use bills to pay with, reserve all change for your jar. Get Rich Slowly author Danny Iny, tried this experiment for seven months and was able to rack up over $700 for his emergency fund.

The Forbidden Dollar Bill

If you really want to see some savings add up with very little effort then designate the dollar bill as the forbidden bill. Refuse to pay for anything with a dollar bill. Take all of your dollar bills and hide them away in a designated place at home.

This can actually become a  fun game especially if you play with a spouse or other family member to see who can save up more each week. Each month pool the money together and apply it to your largest debt bill. The satisfaction you fell at saving that money and paying down those debts will make the dollar bill sacrifice well worth it.

The 52 Week Challenge

This is a great New Year’s resolution savings plan that can help you save up over $1,000 dollars in one year. Each week of the year deposit or hideaway in cash the amount of money corresponding to that week. Week one= $1, week 2=$2 and so on till week 52 when you will put $52 in your savings and you will have accumulated $1,378! Not bad for a rainy day.

My favorite twist: do it in reverse. Save $52 this week, $52 next week, etc. This way, it gets easier and easier as time goes on.

The Old Coffee Can Trick

Do you remember the old movie “Where the Red Fern Grows”? The young hero had a dream of owning his own set of coon dogs. The only way he knew to make this dream come true was to start doing some side work for neighbors and stuff that cash away in an old coffee can. After several months he made his dream a reality when he emptied that can and bought his dogs.

This is not just a piece of movie fiction; this is a tried and true old school savings plan that can actually make an impact on your budget.

Taking on extra work to make a budget work is what our grandparents and great grandparents considered the only answer to a tight budget. You need more money, you do more work.

Designating side income toward a single goal is a great way to feel the psychological satisfaction of actually seeing a goal accomplished. In most cases side income does not have to be a permanent change to your life. Do the extra work until you have reached your goal and then resume your usual work schedule.

If you need a jumpstart on simplifying your finances and increasing your savings, consider speaking with a Christian debt relief advisor at FaithWorks Financial. A debt management plan or debt settlement program may be a great way to reduce your monthly outgo and give yourself some much needed breathing room.