The times are oh-so-bad and recession or depression or a slowdown (whatever you may call it) is upon us. Well, this world is all about survival of the money savers and so, save we must – here are 30 practical ways of cutting expenses and saving big:
1 Save on energy costs – use power-saving CFL lights, monitor and change your thermostat’s temperature as required during daytime and night and don’t leave lights/appliances on when you don’t require them.
2. Instead of going to the movies rent or borrow one. If you must go to the movies go to an early matinee and save some money.
3. Want to spend some time with friends? Instead of going out have a fun night of coffee, cards and good conversation.
4. Do you eat out at work? Plan ahead and pack your lunch.
5. Use public transportation or a carpool.
6. Save money on drugs with generics whenever possible.
7. Do you see a good sale for a product you use anyway? Stock up whenever possible! If you have coupons for the sale item you can save even more.
8. If you make a lot of long distance calls then it may pay to go with a plan that offers free long distance. Otherwise, limit calls to nights and weekends when rates are normally cheaper.
9. Piggy-bank loose change.
10. Buy clothes off season when you can get the best prices. I stock up on kids clothes a year in advance and just buy a size or two larger depending on the age of the child.
11. Stop smoking. Easier said than done but can you really afford not to?
12. Install a water saver type shower head.
13. Don’t waste money on a gym – instead, jog, walk, workout at home or cycle.
14. Keep up on maintenance to extend the life of you car.
15. Dollar stores are a great place to stock up on items such as wrapping paper, gift cards, gift bags, etc.
16. Get out from underneath credit card debt by making more than the minimum payment each month.
17. Eat out less. Try to keep stocked up on the ingredients for quick meals to keep from going through the drive-through on days you are just too tired to cook.
18. Always bargain at shops and look at a few options before making a purchase. If you’re buying fancy stuff like jewelry, buy it from a pawn shop.
19. In the market for a new home? Find a home under the price the your bank has pre-approved you for. With more affordable payments you may even be able to pay a little extra on your mortgage each month.
20. Try Freecycle.org for getting and receiving unwanted items for free. One man’s trash is another man’s treasure!
21. Stick with basic cable. Your family might balk at the idea but your wallet will thank you.
22. Do your own manicures and pedicures. Color your hair at home.
23. Open a savings account that you use just for emergencies. If possible have just $5.00 per week taking right out of your paycheck and work your way up. This will come in handy the next time you have an emergency car repair.
24. Save on dry cleaning costs by purchasing items that can be washed at home.
25. Do some comparison shopping on insurance for anything from car, life insurance, homeowners, etc.
26. Drink more water. Sugary soft drinks should be an occasional treat instead of an everyday staple.
27. Reduce clutter and earn some extra money with a garage sale.
28. Don’t be late in paying your bills – the interest can be killing.
29. Consider planting a garden. Produce such as zucchini can be shredded and frozen for future recipes. Find information at your local library online on how to get started.
30. Know when to splurge. Cut back on the trivial things that eat up your paycheck and you can splurge occasionally on something fun.
Whether you try just a few of these tips or all of them, these tips can really help you stretch your budget.