The Trend of 2009: Money Saving Tips

General Motors is laying off thousands of auto workers due to slow sales, possibly scrapping the Hummer along with other big, gas-guzzling vehicles. Other auto makers are going down the same road, leaving thousands of people out of work. Not to mention the gas pains that most of us are feeling these days, with gasoline at or approaching $4 a gallon with no relief in sight. Therefore, one of the hottest trends in the next year will be saving money.

You see, the record price for a barrel of black gold has been reset 51 times in the last 61 days, according to reports. That by itself is bad enough, however, rising fuel prices mean rising costs of seemingly everything we buy in stores. So what, you ask, is the answer to spiraling prices, a new President? Drilling for oil in Alaska, biofuels, hybrid vehicles?

Sadly, as much as some of the above items might help alleviate our oil problem, there is no one simple solution. The only answer, as I see it, is to do everything we can to live within our means and cut costs for everyday living. How do we accomplish that feat? Here are a few ideas:

First of all, as much as we might want to control the actions of others, we cannot. But if we all start doing even a little, we can at least make the gas pains a little less painful. Many Americans are spelling relief H-Y-B-R-I-D. While there may be some difficulty in finding what you want in a hybrid vehicle, look for the automakers to ramp up hybrid production to meet the demand. Also, the federal government is offering tax breaks and incentives for purchasing a hybrid car.

I realize not everyone can afford the expense of a new vehicle right now, so there are other ways to increase the gas mileage of the vehicle you currently drive. Make sure your tires are properly inflated and your air filter is clean. Get your wheels aligned. Avoid jackrabbit starts and stops. Plan your trips to avoid unnecessary driving. Carpool if you can. I know most of us want to listen to our own music and avoid riders with obnoxious habits or body odor. Surely some of us can find someone to carpool with without these risks.

Other ways to save gas include using an electric or rechargeable weed trimmer or other such yard tools. If you have a Sam's Club nearby, they are usually a few cents cheaper than the average price per gallon. A few cents a gallon can add up to dollars over a year's time. Saving three cents a gallon with a 25 gallon tank once a week saves $39 a year, for instance. It may not sound like much, but let someone take $39 out of your pocket all at once and most of us are perturbed to say the least.

In addition to saving gas, there a number of other ways to save money to offset high gas prices. If you have credit cards, try to pay your bills as soon as they arrive in the mail. That way, you are sure to avoid late fees and predators, I mean creditors, can use late payments as an excuse to jack up your interest rates, which can cost you hundreds or even thousands of dollars over time. As your interest rate goes up, so do your minimum monthly payments.

If your bank doesn't post deposits the same day, switching to one that does may save you in return check fees. Our old bank did not record deposits after 2:00 P.M. until the next day. We had checks bounce after a deposit had been made after 2 on the Friday before a Monday holiday last year. The deposit wasn't credited to our account until Tuesday. We switched to a bank that credits deposits made before 7 P.M. that is also closer to our home, eliminating a few miles of driving. Better yet, have your check direct deposited and if you have to work late or for some reason can't make it to the bank before closing, you're covered.

The trend of charging late fees has extended to most public utilities, also. Fees to get your water, electricity or gas turned back on after being cut off are expensive. If you can't pay the bill on the due date, give them a call and see if you can pay part of the bill or get an extension. Turning lights out when leaving a room, and not using excessive water when showering or shaving can lead to savings every month. Selling unwanted items at a garage sale and trading old CDs or books in for store credit, which many stores offer, are other ways to save money. I recently traded in 4 unwanted CDs at Hastings for $17 in store credit and found a used CD I wanted for $7 and thus had $10 left over.

These ideas won't make you rich, but they can help you quite a bit over time. In the spirit of disclosure, when faced with overwhelming bills a little over a year ago, my wife and I had to make the difficult decision to file a Chapter 13 bankruptcy. The payments for everything come right out of my check and all the bills are being paid. Since we started consistently applying these principles in our daily lives, our situation has greatly improved to where at least now we aren't living from paycheck to paycheck.

While I'm don't posses a Yale MBA, our President does and look at the deficit. Who would you take advice on not drinking from, a lifelong teetotaler or a recovering alcoholic? I've been to the bottom financially speaking , but have put down my bottle, which was credit cards, and am steadily working towards a much brighter financial future in large part due to practicing these financial principles. I believe they will help you in these uncertain times, as well.