Surviving in Today's Economy

With the economy spiraling out of control, thriftiness has become a trend. Here are some ways in which you can cut corners and save some extra money. The best place to begin is to make a budget. Stick to it as best you can. Differentiate between needs and wants. You need to eat. You don't always need to go shopping. You need to put gas in the car. You don't need to go to a concert.

Purchases:

Use coupons and send in rebates. This puts money back into your pocket and takes little to no time. Why not make the most of it?

Make your own coffee and bring it to work with you. A savings of $1 every day, five days a week, four weeks a month, twelve months a year is a $240 savings. Just by bringing coffee from home. Yes, the can of Maxwell House will set you back $5, but it'll provide you with 90 cups of coffee.

Make your own lunch and bring it to work with you. Think about how much you spend every day on lunch. Multiply by five, for days in the week, and then multiply that number by four, for weeks in the month. Multiply your final number by twelve. Staggering, isn't it? Think of what you could save by brown bagging it.

Buy generic. It doesn't have to be everything, but it will certainly save you money if a majority of what you purchase isn't name brand.

Buy fresh food at farmer's markets. You're supporting local business and getting fresher produce cheaper than your local grocery store, in most cases.

Buy in bulk. Split a membership to a bulk warehouse (Costco, BJ's, Sam's Club) with a coworker or two, a neighbor, a family member, or a close friend. By purchasing the items that you use most often in bulk, and splitting the items and the cost, you're purchasing only what you will use and saving money in the process.

Don't make eating out at restaurants a habit, make the outings a treat. Their portions are enormous, which is bad for you, and by the time you figure in that drink, appetizer, entrée and dessert, you're way over budget. Go out to celebrate special occasions, otherwise, cook at home. You'll be amazed by how much you can save.

Use supermarket circular to plan meals. Plan dinners around what's on sale, and stock up on non-perishable items the same way. Make a list, take it with you to the store, and stick to it. Impulse purchases are very costly.

Outside the home:

Date cheap. Ride your bike. Peep at leaves. Feed ducks. Walk around a local park. Attend a free concert. Sit outside and read. There are plenty of things to do that don't cost money. Be creative!

Go to the library instead of purchasing books from bookstores. This particular tip saved me close to $500 the first year I tried it.

Gas is expensive. When you need to run errands, plan it so that you run them while you're already out on the road (i.e. stopping at something along your route home from work), or plan to visit several places at once. We live near a mega center with several home stores, clothing stores, and a grocery store. If I need something at Bed, Bath, & Beyond, rest assured I'm purchasing it on the day I do the grocery shopping.

Inside the home:

Use photography to decorate the walls. Another neat tip is to find patterned or textured wrapping paper and frame it.

Turn the thermostat down. A degree or two can make a large difference in your monthly energy bill. Put on a sweater and quit complaining. Slippers help, too.

If you pay for cable, you should watch your television. Don't pay for extras like premium channels if you're not home often enough to watch them.

Use Netflix or Blockbuster's online DVD rental program, instead of going for a weekly night out at the movies. Think about it. If you figure you go to see two movies a month, which for a lot of people is a conservative estimate, those two tickets cost approximately $20 before you figure in candy and popcorn. That's a minimum of $40 per month. Netflix and Blockbuster offer online rental programs that deliver movies continually (sometimes as many as three at a time) to your door for less than $20 a month. You can keep a list in the computer of what you want to see, and every time you send one back (postage already taken care of), they will send you the next item on your list. Cheaper than rentals and no late fees. It's cheaper than movies and there's no popcorn temptation. What's not to like?

Salaries have to stretch further than ever these days. Wishing you the best of luck in your cost-cutting adventures.