Shopping Your Way Out of the Economic Downturn

Certainly, we're all feeling the pinch from the current economic downturn. We're all feeling the need to cut back along with uncertainties regarding the future. Is the worst yet to come?

I don't know about you but when I'm going through a downtime, retail therapy works! And recently I'm finding myself in a catch-22: I'm down because my savings are low, and the only way I can make myself happy is to spend some more of those savings.

Not to worry! I've found some loopholes... For starters, there are many ways to save money and still procure the things you need. Let's start with food. We'd all like to eat organic and natural food and these categories have typically been the most expensive. As they enter the mainstream, there are many alternatives to the expensive versions at Whole Foods. Check out Stop and Shop's large selection of the "Nature's Promise" brand - everything is natural and organic at very reasonable prices. If you have a Trader Joe's near you, you'll find reasonably priced items there as well; just stray clear of the fruit and vegetables which are usually much more expensive than at regular grocery stores.

Wholesale stores like Costco are also working hard to keep prices low. Costco has not seen large price increases like other stores because of a number of cost-saving measures it has implemented. For example, Costco asked a number of its vendors to change the packaging of many products so they could fit more boxes in each crate - the jars of peanuts and pecans for example are now square instead of round, saving the company money on extra crates, transportation and gas. These measures are designed to counter the effect of rising global food prices so the Costco customer is affected as little as possible. Of course, shopping at wholesale distributors requires that you plan in advance for what you need. If you don't have a large family, you can also go to Costco with a few friends or neighbors and split the cost of the wholesale items you all need.

If you are trying to save some extra money in the next few months, take a close look at your current expenses. Chances are that you are spending a good chunk of your monthly budget on daily food and drink expenses such as Starbucks, a mid-afternoon snack, dinner and cocktails out. Instead, splurge a little on some specialty coffee and make your own every morning; it'll end up being cheaper than Starbucks daily! For dinner, invite your friend over for potluck. Search online for different party themes, recipes and cocktail ideas. Use websites such as the Food Network or Allrecipes for fun, seasonal guides. Dining in is not just about saving money, it's about eating healthy with ingredients you select and about eating the things you like, the way you want them. Saving money is just an extra perk!

Next, let's tackle clothes, bags, shoes and accessories! Watching your finances does not mean you have to stop your shopping. The economic downturn has created some new opportunities for good deals. Shopping at Marshalls and TJ Maxx is now better than ever. The TJX company that owns Marshalls and TJ Maxx, typically buys the surplus from department stores - the stock that department stores haven't been able to sell. Department stores are experiencing low sales and, as a result, much more of their stock is going to companies like TJX. This means, better labels and more department store products at low prices for you. Take advantage of these opportunities now by starting your holiday shopping early - stock up! You'll find anything from designer labels to more affordable high quality clothes for the whole family. They have a great selection of shoes, bags and even high-end jewelry. To treat yourself or someone you love, check out the low prices on bath and body products or home decorations. You'll have to go often for the real finds but I guarantee you will always find the unique items that everyone will compliment.

Because of the economy, many companies are also going out of business. Need some home products? Linens 'n Things recently declared bankruptcy - they will have large sales from now until December. This is also a good time to get great prices on luxury items. Websites like portero.com sell gently used luxury items and guarantee their authenticity. To increase their profits, many of these companies are offering great deals on expensive bags and jewelry. If you have the money, now is a great time to invest in that Chanel bag you've always wanted and you're likely to get it much cheaper than a few months ago. Individual sellers on eBay and other auction sites are also trying to make some extra money by selling their luxury possessions at lower prices.

In sum, to make it through this downturn, you don't have to limit your retail therapy completely. Plan early, get creative and shop smart!