David Parker
CEO, BeatThat.com

Barack Obama said it well in the second debate with John McCain – the government and US citizens both need to think about carefully managing their money coming in and money going out.  It's not enough to simply manage your spending – you have to manage your income as well. 

A simple example:  If your spending has to go up – due to an unforeseen medical issue, or even something as trivial as an invite to a relative's wedding (hence you have to get a present, plus maybe travel to the ceremony), then  you have two options:  1) cut other spending, or 2) pull in some additional income.

Saving Money

Most people try to cut spending.  We're seeing that now – restaurant receipts, travel expenses, and big ticket purchases (cars, TVs, furniture) are all down compared to last year.

But what about reducing spending on the “little things?”  Is there a way to save money consistently on smaller ticket purchases?

My web site, BeatThat.com, might be able to help.  BeatThat is a site that promises the lowest prices possible on hundreds of the most popular consumer electronics products.  The reason BeatThat is different is that every deal shown on the site has been submitted by consumers.  BeatThat is a “wisdom of the crowds” site – if you get hundreds of people scouring the Web for the best deals, through the law of numbers you'll find the very best.  BeatThat only pays its “Deal Finders” when they find a better deal than what's already on the site.

So as a result, if you have to buy a consumer electronics product – to replace a broken digital camera, or as a wedding gift to a young couple – try BeatThat, and see what the truly lowest prices are.

Adding Income

A potentially harder approach to managing your finances is to increase your income.  These days, just holding on to your job can be considered a success, so for most of us, adding income sounds appealing but nearly impossible.

One option is to find part-time work in addition to your “day job.”  Here, the Internet can be a life-saver, if you can figure out how to work at your computer at home for a couple hours in the evening.

Once again, BeatThat.com might be able to help.  Each month, BeatThat sends payments to its Deal Finders for their work.  A number of Deal Finders are pulling in thousands of dollars monthly!  Payment per approved deal is between fifty cents and two dollars (it depends on the quality of the store), and if you're good at finding deals, these cents and dollars can quickly add up.  BeatThat's Deal Finders work at all hours of the day and night (think:  While eating lunch at work?).

Conclusion

In these uncertain times, it makes sense to watch your personal and family finances carefully.  You may not be able to do anything about falling stock or housing prices, but you can do something about your expenses and your income.  Save as much as you can on both big and little purchases, and look for ways to pull in some extra income.  And don't forget about BeatThat.com, a site that can help you do both.