Saving Money on the Essentials

With the current economic recession, consumers everywhere are looking to save money and spend smarter. The first and most obvious step is to cut back on the luxuries-but what if you still find yourself strapped for cash even when you're just buying what you need? There are some buying strategies that will help a savvy individual save money even on the basics: food, clothing, and shelter.

Food: This is the ultimate essential; we eat food every day, so how can this daily activity become more cost-effective? First, buy in bulk. Visit a local wholesaler and you'll find a lot of your favorite meals at low, bulk-rate prices. Second, save everything-don't underestimate the power of leftovers. A Groovy Green article by Michael d'Estries reports that the average American family throws away 122 pounds of food every month! If you aren't sure what to do with that extra ingredient or that little bit of food on the side of your plate, save it and look up creative recipes online or at the library. Lastly, the old penny-pinching method still works too: take advantage of coupons, special savings, and even free samples.

Clothing: Clothing that is "factory second" or "slightly irregular" offers an amazing price. Most of the time, the defects are unnoticeable-out of the dozens of factory second items that I have bought over the years, only two have had noticeable problems. And if you're really worried about the appearance of such clothing, you can always still purchase factory second undershirts or other less visible items. Secondhand stores like the Salvation Army, Goodwill, or St. Vincent DePaul thrift stores also allow for great clothing finds-these stores also occasionally get new clothes donated from local businesses. As with food, the last tip is an old favorite: check the clearance aisle at your favorite clothing store.

Shelter: Believe it or not, there are actually ways to get cheaper housing for those who really look for it. Working for your apartment complex can provide discounts-janitors and groundskeepers are sometimes tenets who pick up chores around the building in exchange for reduced rent. If you're lucky, you may even be able to find a job as a building manager, thereby snagging cheap or even free rent! Along with rent fees, shelter savings can come in the way of reduced utilities. Changing out your light bulbs to Compact Fluorescent or LED bulbs is a great way to cut back electricity bills. Also make sure to unplug appliances when they are not in use; a product that is powered off still drains some energy if it is plugged in. Lastly, get a space heater so that you can turn off your heat at night and just use the space heater in your bedroom-why spend money to heat the entire apartment if you're just cozying up in one room?

Source:

Michael d'Estries, How Much Food Does the Average American Family Throw Away Each Month?, Groovy Green.